215: Condo Conversions, Student Rentals, and Profiting in a Hot Market with Ricky Beliveau

<p>Boston is a tough market. Prices are high, but even high rents aren’t enough to make it profitable to invest.&nbsp;<strong>Ricky Beliveau</strong>&nbsp;makes money by renting to students, converting small multifamily buildings into condos (it’s easier than you think!), and transitioning&nbsp;unused space into more bedrooms to add massive value.</p><p>In This Episode We Cover:</p><ul><li>How Ricky started&nbsp;by&nbsp;<strong>borrowing money</strong>&nbsp;from his mom</li><li>Thoughts on buying&nbsp;an&nbsp;<strong>expensive property</strong>&nbsp;in an expensive market</li><li>How he got&nbsp;<strong>4 signers and co-signers</strong>&nbsp;per unit</li><li>Tips for finding a&nbsp;<strong>property manager</strong></li><li>The upsides to having a&nbsp;<strong>college rental</strong></li><li>How he achieves next to&nbsp;<strong>zero vacancies</strong></li><li>How he&nbsp;<strong>tenant-proofs</strong>&nbsp;his&nbsp;rentals</li><li>The&nbsp;<strong>value</strong>&nbsp;of his property today</li><li>The details of his&nbsp;<strong>next deals</strong></li><li>How to find these&nbsp;<strong>gems</strong>&nbsp;of properties</li><li>What a&nbsp;<strong>condo conversion</strong>&nbsp;is</li><li>The average&nbsp;<strong>cost</strong>&nbsp;for condo conversion with an attorney</li><li>How he sets&nbsp;the&nbsp;<strong>HOA</strong>&nbsp;up</li><li>How to tell if&nbsp;a property is good for&nbsp;<strong>conversion</strong></li><li>Thoughts on keeping a&nbsp;<strong>day job</strong>&nbsp;while investing</li><li>How to find r<strong>eliable contractors</strong></li><li>What’s&nbsp;<strong>next</strong>&nbsp;for Ricky</li><li><strong>And SO much more!</strong></li></ul><p>Links from the Show</p><ul><li><a href="http://biggerpockets.com/marketplace" target="_blank">BiggerPockets Marketplace</a></li><li><a href="http://biggerpockets.com/forums" target="_blank">BiggerPockets Forums</a></li><li><a href="https://www.biggerpockets.com/pro" target="_blank">BiggerPockets Pro</a></li><li><a href="https://www.biggerpockets.com/re