All Forum Posts by: George Post

Great points @Daniel McDonald!

Remember: with a conventional loan, you typically need six months of reserves for owner-occupied multifamilies. That means if your mortgage payment is $4,000, you'll need $24,000 in reserves after closing.

 Try to bake in closing costs—either by negotiating seller credits or adjusting the purchase price. It’s a smart way to ease your out-of-pocket burden and get your foot in the door.

One popular strategy—especially if you're single—is the "rent by the room" approach. You can buy a property with as little as 3% down using a conventional loan, then rent out the other bedrooms to roommates. It's a great way to drastically reduce or even eliminate your monthly housing expense.

If you live there for at least two years and then sell, you may qualify for up to $250,000 in capital gains to be tax-free (as long as it’s your primary residence). That profit can then be used to roll into your next property and continue building your portfolio.

It’s a solid way to get started in real estate investing without needing a ton of capital upfront.

Happy to answer questions if anyone’s considering this route!

Cheers,

George

Got questions? Shoot me a message—I’m happy to help.

Super nice to meet you! I am a local mortgage lender and also investor with eight units on the south shore of Massachusetts. Happy to chat. 

Hey man — just wanted to share some advice. I’d definitely go with LVP (luxury vinyl plank) if you can. I recommend reaching out to Lowe’s — they’ll send someone out to quote it for you, and the team can also confirm if LVP will work for your specific flooring.

Also, definitely get the Lowe’s for Pros credit card. Anything over $1,500 gets sent to the quote desk, and I’ve scored some awesome deals through that — like 30% off fencing.

Quick heads-up: I’ve got a three-family in Hull by Nantasket Beach, and when the Lowe’s crew came out to install LVP, they said it wouldn’t work due to the condition of the flooring. I ended up having to use carpet. So it’s definitely worth having them assess the space first.

Happy to connect as well, when your done with the work to pull some capital out ;)!

Overall though, LVP is a solid choice. Good luck!

Doing one right now with TD bank!

@Lucas Vanroboys Hey man! Sounds like you have "a good problem" on your hands lol! But probably frustrating none the less. We have some outside the box primary residence cash out options (would not be a line of credit however), but you could tee one up if you saw an opportunity to purchase something with a DSCR loan. Interested in that futures contract. We have helped athletes in the past.

Happy to chat - 781-534-8071. I have 7 doors in Hull MA!

Cheers,
George

Excited to see everyone tomorrow! Will be a great time to start planning to crush your 2025 goals :)!

Thanks for the mention @Daniel McDonald!  @Derek Morrison I live in Scituate! LOL small world man!

Happy to connect - 781-534-8071! Shoot me a text!

Stoked to see everyone there!

Thanks to everyone that came! Lots of fun and see you at the next one :)!

SEE Y'ALL Tonight!