All Forum Posts by: Zachary Watson

My wife and I just bought a 3-family in Marlborough, MA, there is knob and tube all over the place, and we are planning on moving into the first floor. 

We want to update the 2nd and floors, and if we do it could be verrrry costly, possibly 16k for each unit to update electric and plumbing, we do plan on owning this for the long haul. 

What I can't tell is if updating the plumbing and electric now will cut down on future headaches, or will the headaches be caused if we have a few hundred more to pay monthly in loans on the renovations. 

Originally posted by @Thomas Hickey:

Zachary Watson
Resist the urge to overimprove. Replace countertop and paint existing cabinets, replace light fixtures. Avoid unnecessary plumbing and electrical work. Single pane windows are ok if have storm windows. White appliances look nice with painted cabinets. Think I covered most of the big money wasters. I usually spend 3-5k when I first turn a unit and after that it's good for many tenants.

 Thank you for this as I am realizing we just sized up some pretty aggressive renovations that may cause some over spending. We will definitely keep these ideas in mind!

My wife and I are about to close on a three family in Massachusetts, we are going to be renovating two of the floors for a higher rental, what do we do next, we we don't have much cash now that it is in the house or in renovations, what can we be doing to get into our next deal?

Me and my wife are new to real estate, we have not done our first deal yet. We have been running numbers on a 2-3 family home everyday and trying to make an offer weekly. All of a sudden a 7-unit property popped up on our feed from our realtor, its 750,000, we have 40k saved up, how do we get in to a deal like this?

Hey! Thank you for hosting this! My wife and I are working on buying our first home-hacking project and would love to meet all of you like-minded people!

Is this still available?