All Forum Posts by: Jamie Adames

Thank you @Jay Hinrichs, I appreciate the advice. 

I’m looking into possibly starting a small scale, local only lending business as I have a few investors who would like to venture out of the stock market.

I was hoping to receive some guidance from people that are in the business and what are some good practices. I’m a Real Estate Agent in the MA/NH Area, specifically in the Merrimack Valley Area. I understand the investment side and to make sure that the deals make sense before Lending but need some help with the paperwork / Admin potion.

Contracts, paperwork, etc would be very helpful, as well as any other advice.

Hey Brett, 

Feel free to reach out to me and we can bounce idea's I can possibly assist you with your goals.

-Jamie

@Cathy Wang Hi Cathy, it might make sense to hire a PM company unless you plan on doing the brunt of the management work yourself, they will probably be able to find tenants for you. 

Make sure you do thorough background checks with your applications if a leasing agent is going to be used. Finding good tenants is extremely important in hopefully having a stress free experience. 

As someone hiring the PM, I would personally want them relatively close to the properties in which they are managing. 

I think the charge is standard, many PM's charge a broker fee for the initial process of getting the tenant ( leasing fee ) as well as the 10% monthly fee based on rent. 

I think you may have misunderstood the charges on this one.

Hi George, 

I think that Sam makes a great point with hard money. I would also be in touch with your attorney to make sure that these assets won't be in question with divorce. 

Hi Sharad,

There are a few requirements in MA to charge for water and sewer. It might make more sense to pay for this yourself and change your rent. Feel free to send me a message if you would like to discuss!!

Seperate Water meters for each unit

Installation of low flow faucets and toilets by licensed plumber

Certification with the local health board

Obligation must be in the lease

Can only be imposed at the beginning of the lease

Hi Scott, I can see by the responses you've posted that you are definitely interested in owning properties. I think that it will be a lot less scary when you actually started investing and owning more properties, you're 55+ home will probably represent more of what you'll actually see. You will also have attorneys available and lessons to learn if sued. Good luck! 

Hi Nick, there are great deals in Western, MA in my opinion. Buy and hold properties as the values are very low there.