I am very excited to finally come out and introduce myself here. After lurking in the shadows over the summer reading books, analyzing deals and listening to all of the podcasts, I am ready to dive in. My goal is to fix and flip in Middlesex County this fall/winter- Framingham, Natick, Hudson, Maynard, Marlborough, Wayland, etc. are all towns that I am interested in.
A bit about me: I purchased our home in Wayland in 2007. Since then (has it really been 10 years?) my amazing (and super patient!) wife and I have completely gutted and renovated the entire thing. We transformed a typical 1950's split level ranch into what we like to call a 'Farmhouse Cottage'. It looks awesome! Along the way we learned an incredible amount about all aspects of construction, dealing with subs, and general home improvement. I liked working on our house so much that in 2011 I made a career change into the world of home performance, and since then I have conducted over 3,500 residential energy inspections in the metro Boston area.
I am looking to connect with investors, agents, and wholesalers in order to find a single family deal in Middlesex County. My first question to BP Nation - does it make sense for me to pull a line of credit on our primary to help fund the first deal? I am very disciplined with money, have excellent credit, and we have established significant equity here as a result of our renovation efforts. HELOC rates seem attractive.
Thank you all for taking the time to read this. I look forward to engaging with many of you! If anyone in the Boston area needs help using the Mass Save program for their personal or investment properties please let me know and I would be happy to help you out. There are incredible rebates and incentives available and I can help you navigate the process as it is not always straight forward.
Hey @Jimmy Seaborg , Welcome! Congrats on the first fix up! I would be happy to talk more about the process you went through and also would be happy to help you look for other properties to work with.
Good Afternoon ,
Welcome to this awesome online networking platform. I'm an investor as well as an active Real Estate Agent. The exact same thing you are considering, I'm currently working on with another person who is actually doing the same efforts. They are actually working on a line of credit in order to buy another property.
What's great about it is that their rental will be paying off that line of credit as they buy the other property and fix it up. If you feel that it will not strain you financially then it's a great option.
As you mentioned about the saving programs, I would definitely like to learn more about Mass Save.
I looking forward to awesome endeavors this year.
@Jimmy Seaborg Hello, Jimmy. Welcome to BP. It seems like a simple thing, but reaching out in BiggerPockets about getting started as a real estate investor is a great first step. Congratulations and I wish you a ton of success.
Thank you for the welcome @Gilian Gegawin !
Thanks for the response @Mariah Cajuste , I will send you a note and we can connect about mass save, heloc's, etc.
That's awesome you have the experience renovating your primary residence! Also increasing the value, building equity-
I am looking into the mass save program and now need account numbers so they can go in each individual unit to complete the energy audit.
Right- getting the account #'s for each tenant is annoying. And then you need to schedule them at the same time- also very annoying! But the program is still pretty awesome despite that! Which company are going to use to run the audits?
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