All Forum Posts by: Jason Regan

No problem @Hossam Elaskalani! I am closing this week on a 4 family in Athol with a partner. I also was supposed to close on a 2 family last month in Fitchburg, but probate was done improperly. This delayed the process and I am set to close on this next month. My purchasing strategy currently is for cash flow as I can use this to snowball to more properties quicker. I buy in areas with higher cap rates. On the flip side these properties will not appreciate a large amount in value, As a note, both these properties should be full BRRR.

I looked into out of state investing, but bought my first property in Ma. I know Ma has some very hard tenant landlord policies and can be expensive. I looked in Memphis and other areas where it is more landlord friendly and the prices are cheaper. The reason I stayed in state boil down to 2 reasons. 1 is that this is my first investment so I want to see it and know it before going forward. I know this will change in the future but it made me much more comfortable. I can also self manage to save some money while I have a small amount of doors. The second is I had a hard time finding BRRR protentional farther away. I don't know the market so it was hard to figure out what actual repair costs are. I do want to find a team elsewhere when it opens up to begin BRRR elsewhere.

I am in Leominster which is more of central ma.  What areas are you investing in?

@Gert Dervishaj I would love to hear from someone with experience in this.  I have been looking into new builds and have a few projects that might fall soon.  The costs I am getting is anywhere from $140 - $160 per square foot to build a stick home

Oh that's great to know!  I was hoping someone would help me if anything was out of place

Thanks @Linda Roberts

@Linda Roberts

It has been a huge help for me.  I use the forms in the Managing Rental Properties book from BP.  He gives you the downloads for pretty much anything you will need when you buy the book

I would ensure you read up on everything.  I receive 1st,  and last on signing of the lease.  If they are moving in later, the lease is not signed, but rather a deposit to hold.  This deposit to hold requires a non refundable deposit be given as a money order and is non refundable. This becomes the security deposit if they move in. The person must then move in within the set amount of days agreed on.  If they do not the rental goes back on the market and the non refundable deposit is kept.

Id love to hear from others their thoughts on my process

Pints and Properties with @Jonathan Bombaci is always a great meetup.  I think he is trying to get it back to in person too.  

I havent read this. Can you explain high level what his method is and I can try to see how it works with BRRR

Research and Research more.  Find networking groups and then you can make connections.  Learning for me was great and I put in a lot of sweat equity for an investor.  In exchange for helping him keep an eye on his project and providing updates, he filled me in on the process, his decisions and next steps. This was a huge help!