All Forum Posts by: David Briley

Hey, 

@Tanya R. welcome!  I'm an investor-friendly agent from Atlantic Coast Homes in Salem and I live in Amesbury, next to town over from @Shamus Quirk.  What's up man? :)

Depending on your patience, another approach might be to use less capital to invest in a class C (or even D) buy and hold, fix up a little, then a few years later pull out equity in a refi to purchase a flip.  

Again, with B/H properties, it's only about the spreadsheet and there's much less risk.  There are other excellent B/H markets besides Haverhill and Lawrence in MA, just not as geographically close, but we've helped 6 of our clients make money in those markets.  

Just keep your mind open.  Good luck on your investing!

2 Family house on quiet dead end street, park within walking distance, plans in hand to rehab existing property w/ addition and add 3500 sq. ft. attached SF. Will be sold fully permitted and ready to roll. Demo has already been done on existing unit and hauled away. Permitting for both is in process and should be done in about a week. 

Final specs would look like this:

• Unit #1: 4 bed 3.5 bath 2 car garage, total sq. ft.= approx 3500
• Unit #2: 4 bed 3.5 bath 2 car garage, total sq ft.= approx 3550
• Purchase Price: $1.5M
• Build Out/Rehab: $825k (this is generous)
• Total: $2.325M ARV: $2.7M
• Gross Profit: $375k (less holding/soft costs)

Was just under contract but fell apart.  Please text David Briley 978-219-4736

Following.

As long as you're doing a thorough screening, (social media, calling references, employers, and previous landlords) with a good open-ended script with the right questions, you should be good with those Sec 8 applicants.

What towns are you looking at in MA?

@bradmicinnis I TOTALLY agree with @MikeHurney .  The market has peaked.  I just listened to a podcast from a couple of finance whizzes from the area.  

And as far as Malden and Chelsea, I think you're behind the power curve on those towns.  I'd look for other towns a little further out with T access.  Professionals are being pushed out toward those towns.  (See development explosion near Beverly Depot).

Good luck, man.

Honestly,

If you find a deal, you'll find people to get money for it; as far as someone who isn't in your SOI entering into a partnership with you, with you not having any skin in the game,  I promise you that'll be tough.