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Investment Properties in Rhode Island : Real Estate Advice

  • All111
  • Local Info3
  • Home Buying61
  • Home Selling10
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Activity 11
Thu Jul 14, 2016
Mymrmac348 asked:
We are fairly new to investing in real estate, within the past year, and are in the process of evicting one of our tenants. We have a month to month lease in place. The eviction is for nonpayment,…
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Tue Oct 27, 2015
RoseAnne DeAngelis answered:
Hi!
I would suggest that you speak to a qualified mortgage broker. They would be able to tell you what you could quality for, as well as if you would be able to use the equity in your home for a down payment. If you currently have a mortgage and want to take out an additional equity loan for a down payment on an investment property a mortgage broker would be able to determine the ratios required.
If you would like my assistance in finding an investment property or if you would like me to refer you to a qualified licensed mortgage broker please feel free to email me at roseanned3393@gmail.com or call/text me at 401-623-1566.
Thank you,
RoseAnne
Braodway Real Estate Group LLC
... more
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Mon Sep 28, 2015
Scott Godzyk answered:
Trulia does nothandle any property, they are not agents or brokers but simply a site where agents and brokers can post their listings. Agents can post some types of commercial property but commercial properties should be poste don commercial listing site sto reach commercial buyers ... more
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Fri Aug 28, 2015
Amelia Robinette answered:
If you're asking a bank to loan you money to purchase, you need to conform with their guidelines. Different banks have different guidelines. If you don't have cash or equity, you're a high risk borrower, so if you do find someone to finance your purchase, expect to pay a higher interest rate. ... more
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Mon Jun 3, 2013
James Merida answered:
Carlos,
Depending on what kind of situation you're in if you have the ability to occupy the property you could possibly do a 203k. Its an FHA loan but only requires 3.5% down and you could borrow what seems to be an unlimited amount of money. But you'd have to occupy the property and have it be your primary residence for I believe up to 1 year. But it can be used on multifamily properties as well as singles. Please feel free to contact me if you have any questions at 401-451-2281. Thank you and good luck. ... more
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Tue Apr 2, 2013
Jeremy Booth answered:
That is a very desirable location during the summer season. Depending on exactly how close to the beach your property is, the condition, and other parameters, a weekly or monthly rental can generate thousands. Be cautious of town and State laws and ordinances and regulations. I have experience with this type of rental and the Middletown area, please give me a call or email to discuss anything. Thank you ... more
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Sat Jan 5, 2013
Josh Greenwald answered:
I have a lot of experience with precisely these rentals and situations - being well connected both via the Brown University area and others. Do get in touch: joshg@alumni.brown.edu. We could probably find a very rewarding deal for you. ... more
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Wed Nov 21, 2012
Janet Coppa answered:
Hi Dan, I know this property very well and almost fell over when I saw it on MLS at 1.9M. I checked the history and it was on the market just one year ago at 850k and did not sell. Thinking it is a case of an owner with grandoise ideas as to it's worth. My sympathy to the listing agent on this one but it is a very busy area with access from 2 main roads in Warwick. The building has been empty for years now and a tear down may be cheaper then a rehab. In todays's market the assessed value is meaningless but someone thinking of buying this property at that price needs a good calculator.

I do not specialize in commercial property, my forte is residential but I have to say this one got a smile out of me. My best wishes to all involved.

Have a great Thanksgiving

Janet Coppa
Coldwell Banker
831 Bald Hill Road
Warwick RI 02886
401-487-6757
janet.coppa@nemoves.com
... more
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Sat Sep 15, 2012
Jose Diaz answered:
Hi my name is Jose Diaz and I work for Legacy Real Estate. I would be happy to help if you would like to call me at 401-316-3172 and I could give you a free consultation.
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