All Forum Posts by: Eric A.

@Charlie MacPherson wow, I couldn’t imagine Massachusetts not taxing this already. Sorry, I live in Maine in the summer and I cringe thinking about spending money in that state. Anyway, they all look like normal tax provisions that exist in several states. I would immediately register and do not pass go! There will be more regulations coming and you will be grandfathered in under state law and that’s very hard to change once done.

@Dev Paul I would suggest only doing single family homes and steering clear of condos with locations near the water. Too many moving parts and in the end the condo board owns you. If they decide to do a huge assessment because of a power hungry board you HAVE to do it. Second, if a hurricane hits, and it will eventually, the repairs and coordination is not up to you on the exterior. We always go single family for our markets.

@Jerry Murphy I would go to Proper and deal with them. In the end insurance companies can do anything they want. As a consumer you can choose not to deal with them. Good luck!

@Ashley Wolfe I will give you one of our secrets that should help you. Always buy your furniture and TV’s on Facebook marketplace or Craig’s list. We furnish all our places with very high end furniture or antiques and get wonderful compliments. People ask huge prices for items but you will soon find out that they will only get pennies on the dollar. Just purchased a leather couch and love seat that cost $4900 at Ethan Allen for $250. They were two years old and after a professional cleaning look like new. Deals like this are everywhere. Oh, by the way they were asking $1500. Take care.

@Mike V. I’m always amazed what people will tell you on a message board. Trust me, if you have a tenant with a sleazy attorney they look for everything, but typically use a flunky in their office who makes $10 an hour. Not trying to be a jerk but I would post stuff like this any more. Take care!

@Patrick Vos the market is very stable now and there are several higher income individuals moving into the area as the aerospace industry comes back. You can study the market through all the STR sites and determine the best neighborhoods. Don’t fall in love with a property you want to stay in, fall in love with a great deal.

@Jay Hinrichs just about to mention this wonderful maneuver. It also applies to trucks or SUV’s over a certain weight. Creates a lot more toys!!!

@Donald S. thanks for the reply and I agree with you when you have a large portfolio of properties. I won’t go into my own personal experience but trust me I know. If someone has a handful of properties it’s a waste of time. Also, there were a bunch of gurus years ago hawking asset protection courses and they all went away. Why? It really wasn’t needed in the end.

@Mikael Lickteig I would definitely change agents. They aren’t a very lucrative commission for most agents so they are not thrilled with them. You can easily get a 5 million dollar umbrella policy.

@Phil Sharp you need to do some deals and then look for private money. Especially right now there are people with very large stock portfolios that want to diversify.