All Forum Posts by: Ann Bellamy

At Marven, there are tons of them.  Go to the Networking tab here on BP, then events, and you can search by location.  Then go to Meetup, and you can search by zip code and by keyword, use "real estate" or "real estate investing".    Leave your credit card in your pocket when you go to the ones that have selling speakers.  I host Black Diamond, and you will find both our March 19 event in Burlington and our April 16 event in Worcester in both locations.

Thanks for the kind words, @Anthony Thompson.  we have changed the Black Diamond schedule somewhat.  We now meet in Burlington and Worcester, and meet monthly, instead of twice a month.  We alternate between Worcester and Burlington.  So the March meeting is March 19, and is listed her in the BP events directory:  

https://www.biggerpockets.com/forums/521/topics/670181-black-diamond-finding-the-gold-in-oz-opportunity-zones

Haha, it was four years ago, so I guess you did miss it!  Here is the link to his website from a google search

https://goddardconsultingllc.com/

You can reach out to @Marina Draper also, she specializes in real estate accounting, and is local.  She volunteers at all our Black Diamond events, so you can meet her on 3/19 in Burlington as well.

@Kenneth LaVoie, this thread is 5 years old, so somethings have changed, but not most of them.  The problem is that he is unlikely to be able to get title insurance to cover the transaction, which means the end buyer's lender won't allow the transaction.  Let us know how it works out, though.  Interested to know what happens.

I can better give you specific resources if I know what part of MA you are in.  Even a county will help.  In the meantime,  mass.gov has a whole section applying to landlord/tenant law.  It is no joke in MA to comply with the laws, so read them carefully.  Charlie is right about the testers at MCAD.    I also recommend you start attending groups in your area.  Specifically landlord assns, which I can't recommend without knowing your area.  There are several of them.  

Your first an most important task, IMHO, is to read and understand the MA laws.  Do not assume that because something sounds ridiculous, like triple damages, that it is not enforced.  Do not underestimate professional tenants.  Do not skimp on screening.  Read up on BP about screening tenants in MA.  

Look for the best accountant who specializes in real estate, not the closest.  It has been years since I sat face to face with my accountant.  PDFs and phone conversations get the job done.  Accountants are crazy busy this time of year, and in-person takes longer.  

Well, I'm a hard money lender, and I work in NH, so I can give you some feedback.  

• In general, there are very few hard money lenders who lend 100% of purchase and rehab.
• There are plenty of hard money lenders who won't lend to beginners on their first deal.
• Put the two together, and you're pretty much dead in the water.  In fact, I just spoke on this topic last Wednesday and Manchester.
• It also matters where the property is, your plan for the rehab and your exit out of the hard money deal (refinance or sell)  
• You can also get more info on hard money in general on my podcast in my signature below.

So my suggestions are

• Start saving:  you'll need more than you expect.  You'll need down payment money, closing costs, money to start the construction (because you get construction money as you go, not up front) and money to make interest payments, money for insurance, utilities, snow removal, taxes, etc.  
• Start networking for partners.  Sometimes people want to invest in real estate, but don't have time to find the deal and manage the construction.  (Don't post publicly that you are looking for investors or partners, you can violate SEC regulations when you do this.  Meet people at REIAs and other real estate groups and chat with them
• I'm not trying to imply this is easy, it's not.  It's hard work and time consuming. 

Good luck!

Well, @Joshua St Fort, you may have found your attorney, I'd reach out to @Patrick M Nichols.  And thank you, Patrick, for your input.  We always appreciate input from attorneys in the state under discussion.