All Forum Posts by: James Morrison

Hi Folks, One of my clients wants to remove lead from a building in Medford, MA. Had lead test done and it wasn't too bad. More light carpentry than anything else. Google has failed since no one has returned a phone call. BPer's from MA anyone got a recommendation? Thanks, Jim

Hi Darsh Pat, I have helped many LL's in Boston deal with this one. If you like to talk options PM and we can go over what's best for you.

Hi Dylan Ciolfi I can help you. I'm an agent that works with investors. You can reach me here on BP. Watertown and Waltham are great.

Mark Nolan I use Steve Coote of Square Foot Management. I would have him out to look at the scope of work you have. Very professional and I find what he quotes and what it costs are always very close. I've used him on multiple projects. PM me if you want his contact info. Can't post here.

Here's a decent article to let you see how so MA towns handle there Tax Lien Sales. Its far from the late night infomercials.  

https://www.bostonglobe.com/business/2014/11/28/to...

Political climates vary from town to town here in MA. If you notice in the article Boston never publishes Tax Liens. Where as Lawerence, Lowell and Worcester will.   

I have looked into them here in MA. It seems that investment companies target them in our state for the large interest rates. Tax Liens destroy the returns you can get from a CD with the bonus of maybe foreclosing on a property or two after a lengthy legal process in our land courts. 

I'm with Steven Picker and his first comment. Don't waste your time with waiting to hear from the agent. Send the owner an Offer Sheet and an Escrow check. She can work with her attorney and you with yours to close this transaction. There's no need for an agent in this deal.

Self-Directed IRA's allow you to invest in products outside of traditional stocks and bonds. Real Estate is one of them. From what I understand you can not use the funds to buy your own personal residence. Hope that helps.

I've been working with Michael Cabral of Gellerman Cabral for over 10 yrs. Wouldn't use anyone else. He services your area last I checked. Offices in Norwood and Boston

Wow,  Thanks for all the quick replies. I had my clients remove the appliances from the in-law apt so it wouldn't cause any red flags with the appraiser. She actually thanked me when she came by saying it makes her job easier. 

We are in the same boat here in MA. The in-law has to be shown it's for family use and not income generation otherwise zoning and tax codes change for the owner. 

I don't think its viable for every flip or new construction project but if a plot of land allows for a walkout basement it will be hard for me not to consider it. I feel shifting demographics show a need for this. 

@Pat L. This home was in a flood zone and also sold far faster than its surrounding competition. Will check with my lawyer to see how towns expected this to be handled. 

Hi All,

I'm looking to brainstorm with the BP community on something I experienced this past year on the real estate brokerage side of my real estate obsession. 

The situation: 

I represented a client who was selling a home with an in-law suite/apt in a blue collar town 4 miles north of Boston, MA. Typical basement 1 bed in-law apt with separate entrance and private driveway. Upstairs was a move in ready cape with modern appliances. Showed really well. 

This little listing had the most foot traffic in my career. All because of the in-law suite. 75% of the foot traffic was represented by younger baby boomers (50 - 55) who were willing to sell their home along with a parents to purchase this one. Majority passed because the apt was outdated and not up to the standards of their parents wants. i.e. High ceilings, full sized windows, good light.. basically they didn't want to feel like they lived in a basement. 

My Question: 

Is this a profitable flip Niche? Every person I talked too said their families couldn't afford nursing home prices should that day come and wanted to proactively look for places safe for Mom & Dad to carry out their senior years while not physically living in their own personal space.  Should we just give them what they want? Build new homes or reconstruct our flips to fit their needs? i.e. Full Sized apts with private access and updated senior friendly amenities? Would buyers pay a premium for this option? 

Could this be a new trend for home builders or flippers in blue collar communities where nursing home care may be out of reach? Would you explore this or pass? Why or Why not? 

I feel like there is an opportunity here. Am I crazy? Thanks in advance! - Jim