Boston Newbie

5 Replies

Hello everyone!

My name is Josh Parra and I currently live in the Boston area, Savin Hill to be exact. I am a United State Marine Corps veteran and local business owner with a boutique real estate brokerage and a dog walking/pet sitting business.

I have been in the Boston area for about 10 years. I also produce house music and DJ in nightclubs on the side. Music and real estate are my true passions. Both reasons as to why I dropped out of college. My interests were never really engaged in school so I decided to save myself from an eternity of debt. I'm a firm believer in entrepreneurship and creating a future for yourself and your family.

When my wife and I moved to New England we settled in South Boston and watched as the neighborhood gentrified into what it is today. I was clueless about anything having to do with real estate but realized that there was money to be made in these 3 family condo conversions.

My first job in Boston was a retail job at Giorgio Armani on Newbury Street. This is where I got a taste of the success that people have had with their lives. One of my clients happened to be a real estate/mortgage broker so I decided to get my real estate license and went to work for him for a couple of years. I then moved on to a corporate real estate company to learn their business model. I made the decision to move on when this company provided me with a buyer lead for a $700k property in which they took their 50/50 split then also a 35% referral fee for the lead. Don't get me wrong, I appreciated the business! But after picking up the check at closing which was close to $20k and seeing the fraction that I was paid out, I knew it was time for a change. So I got my broker's license, registered an LLC and set up my own business, now able to keep 100% of my hard work. Well almost 100%. You can't forget about Uncle Sam! :)

In my years of helping people buy and sell real estate I've always had a deep passion for homes, I think partly from living my whole life in a small apartment in Upstate New York while my single mother was on welfare trying to make ends meet for a few years. I remember visiting my classmates' nice single family homes and always having that gut feeling of awe and appreciation, the same feeling I get to this day when I walk into a beautiful home. I love helping people realize the American Dream but I've gotten to a point where I'd like to do the creating of these homes.

Knowing the Boston market has helped out a great deal and I've been able to see new developments and rehabs sell for great profit. I've also been able to differentiate the price points between cookie cutter remodels with the standard stainless/granite finishes compared to those with finer details, wainscoting/crown/carrera baths etc. The latter is what I hope to eventually accomplish.

I'll be honest, I don't know the first thing about rehabbing, wholesaling, tax liens etc. But I do have an idea and I do want to learn. I'm learning a lot from this forum, the podcasts and just recently from the first Black Diamond Real Estate meeting here in Waltham that I attended.

I'm looking for mentors in all fields. Someone I can shadow and help. I'm not afraid of getting my hands dirty. My days are usually wide open since we've finally been able to reach a point where we can generate an income for ourselves without doing the brunt of the work ourselves.

My apologies for the extra long post! I'm looking forward to hearing from other members on here.

Thanks for reading!

@Josh Parra  

Welcome. Thanks for your service. Fill in the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 70 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers. South of Boston there are meetings in Rockland, Taunton, Plymouth and Cape Cod.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

Promotion
Turo
Turo car sharing
Average $50K/yr with 5 cars
Join thousands of entrepreneurs who have started successful car sharing businesses on Turo.
Learn more

@Josh Parra  

One thing I would recommend is feel free to ask questions and post it on forum. Many a times we are hesitant to post a question, but surprisingly you will find there are lot of ways to answer the question and its always to get to have multiple perspectives.

As @Ned Carey says - Just ask the questions and follow up with people, keep in touch

Also would recommend reading How do I find a Mentor?

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you