All Forum Posts by: Dave Lamattina

Bill,
These would not be listed securities, per Regulation D rule 506. I have raised capital on my own simply through networking and creating relationships. I am now trying to get specifics on using a placement agent who already has these relationships in place and can raise significantly more capital than I can. I am suspecting that person would have to be licensed and registered with the state. I do not believe my company has to be licensed in any way.

I am looking to take on a placement agent to work on PPM's and investor relations for my established real estate company. Anyone familiar with series 7 licensing requirements? It is my understanding that if someone were acting as "agent" on behalf of the issuer seeking outside capital and is being compensated solely on those efforts, than they are required to hold a series 7 license. The agent however is not required to hold license if it can be shown that that agent performs several other duties for the company in which he is compensated. Any thoughts would be greatly appreciated.

HI guys,
I am also from the Merrimack Valley, born and raised in North Andover. I currently own 3 apartment buildings in Lawrence and Methuen. If anyone knows of anything for sale off-market in the area I would love to know about it. Thanks!

Timothy
That is exactly waht they will do in this unit. Heat fans will be brought in and the apt will reach 135 degrees killing all bugs and their eggs. At a cost of $800 it better work as I cannot afford to have this problem again.

I agree with most....language is a bit obsurd, I would cut out asap. Basically law states tenant under lease that breaks, is liable for any lost rent incurred by landlord (there is a bit more to it but that's basically it). I inserted a clause into my lease that says if tenant breaks lease early, they forgo their last month rent already paid. They simply just pay the last month as usual and I keep the last month paid upon move in as damages.

Daniel: When I bought my first 4 family, I had to borrow the cash from family to do the deal (I was lucky my family members trusted me, having no experience). I got a traditional loan and immediately converted into 5 units. I still own the property today. My expenses run around 50% of what I collect for rent. As of now, I am targeting complexes with minimum 24 units though will look at something slightly smaller if price is right. It is definitely easier attracting investors now since I have a bit of a track record and going strong. I see people trying to raise private equity having no experience or record. I can promise you it won't work. Stick to friends and family that may be generous and help you get a start....from there rest is up to you.

Tony: I am definitely in this business for the long term, most everyone I know in real estate have become wealthy over time. I see too many people starting out trying to get rich quick in this business and I can tell you it does not work, ESPECIALLY in this market. I have partnered with one investor so far, it's a 75/25 equity split with investor receiving preferred rate of return paid monthly. It's a good model that I'm looking to expand. Any property sold in the future would be 1031 basis which is only way unless I'm retiring (got at least another 30 years).

Guy should definitely be jailed for legitimate fraud, theft, etc. How is it that laws in place can let this guy do what he does? Note to any landlord out there....do your background checks!!! One minute into my background check on this guy and I know I wouldn't rent to him.

To be honest with you I tried a certain software that cost me $250 and was terrible, most reports were pretty useless. I figured I could recreate most of what I wanted in Excel which is what I have used for my 3 buildings and works great.

I will. As of now they will come out in a couple weeks. This company uses the heat treatment which is supposedly the best way since it kills them all in one shot. I am just nervous the bugs may return in a few months starting the headache all over again....oh well just another day in the business.