All Forum Posts by: Veronique Leroy

Hi Brett, I am a local investor(Buy and hold) in your area. Congratulations on your new investment property! The numbers in my opinion look really good for Western Mass. Happy to assist you in case of any questions. By the way,  any similar deals that you may encounter please let me know. Thanks.

TAW and it has 3 units. 2 units are 3/1 and one is a 2/1 , Rent  $1,100, $950 and $700 . I think I will be doing more research regarding the lead part before buying. Thanks all for your contributions. 

Massachusetts laws are not landlord friendly at all. Even if parents sign a document saying that they are aware of lead in the property you still liable. Also you cannot decline a tenant who has kids if you know the unit has lead because that would be discrimination.

It is big liability if there is a kid already living in the unit. The kid is at risk for lead poisoning.

I all, I am new to BP, interested in buy and hold and trying to get my first rental. What would you do? Triplex in Massachusetts. Asking price: $262,000 ( came down from $279000) Total rent : $2,750( all units occupied with good tenants) Estimated repairs: it has new roof and 3 unites recently remodeled. Only expense is that unit #2 tested positive for lead. It may need deleading ASAP, there is child living in the unit. Not sure about cost but I am calculating $ 10,000 ( tell my if I'm wrong). for the 3 units. The siding is metal. I am not including state credits that if I'm not wrong is $1,500 per unit. Minor improvements : $3000. After using the BP calc these are the numbers: Monthly cash flow: $462.49 Cash on Cash 8.36% 2% rule: 0.98%.( in the area is tough to get the 2%). Many, many thanks for your advice.

Hi, I am in your same situation, I have lived and worked in Western Mass for the past 8 years. I am about to buy my first Multifamily. If I can be of any help please let me know.