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All Forum Posts by: Johnny Kula

Johnny Kula has started 14 posts and replied 74 times.

Post: What are your "prerequisites" in finding the right investment property?

Johnny KulaPosted
  • Rental Property Investor
  • Billerica, MA
  • Posts 75
  • Votes 10

Thanks everyone!  I appreciate the info.  It helps to open my eyes to places like Lelith mentioned.  Does anyone have any advice on common things that arise to walk away from?  I guess signs that the house isn't what you think it is and to walk away?

Thanks,

Johnny

Post: I have no experience and I'm here to learn live around Boston area

Johnny KulaPosted
  • Rental Property Investor
  • Billerica, MA
  • Posts 75
  • Votes 10

@Thiago Limawelcome aboard.  I'm new myself and from the same area looking at making an investment soon.  The folks here will post many resources to check out.  I'm in the process of taking my RE Agent course/license.  Look into local meetings and I'll probably run into you there.  Hoping to build a great team soon and get some property under my belt :)

Johnny

Post: What are your "prerequisites" in finding the right investment property?

Johnny KulaPosted
  • Rental Property Investor
  • Billerica, MA
  • Posts 75
  • Votes 10

OK, this might be very broad, but I'm putting together my list of what I want to invest in so my broker can start looking.  I'm looking at two options: "very local" multi-families in the Lowell, MA area and property in Florida (where I used to live and have a buddy still there and his wife is a real estate broker and he used to flip/hold houses before the market crashed on him).

Both are for income purposes.  Not for vacation, etc...

What are the down and dirty GO/NO GO criteria to guide one to success in their buying strategies?

Hopefully there will be a ton of posts with all sorts of angles.  I can't wait to pick some brains :)

Thanks everyone,

Johnny

Post: Using equity from primary residence to put down payment on multi-family investment

Johnny KulaPosted
  • Rental Property Investor
  • Billerica, MA
  • Posts 75
  • Votes 10

My broker mentioned seeing I have cash to put down on an investment property, rather than using the cash, use the line of credit on the equity and put the savings in a "safe" investment fund or somewhere that I could liquidate and pay down line of credit if rates start to jump, etc. 

Is this something recommended?  Anyone have any thoughts on why/why not this would be a good or bad idea (besides the obvious "don't spend the cash").

Johnny

Post: Importance of business cards and Contact Info

Johnny KulaPosted
  • Rental Property Investor
  • Billerica, MA
  • Posts 75
  • Votes 10

@Mike Hurney thanks for the great pointer!  I'll be sure to fix it up for the next batch :)  These ones will hopefully go before the ink dries ;)

Post: House Sale

Johnny KulaPosted
  • Rental Property Investor
  • Billerica, MA
  • Posts 75
  • Votes 10

Kam congrats, that's GREAT!  Tell us some of the deal and how it worked out so well for you!  Looking forward to hearing more.

Johnny

Post: Getting my team together/ What I have done & what do I do now?

Johnny KulaPosted
  • Rental Property Investor
  • Billerica, MA
  • Posts 75
  • Votes 10

Wow that's great news and FAST!  I'm searching for a Broker in MA to work with, working the financing now (pretty much all set) and have some cash as well.  Also currently working on my RE License to hopefully give me an advantage to being able to work my own deals and also work with a broker on their deals so I can learn Mr. Miagi style lol.  Look forward to hearing how your first deal goes!  I'm right behind ya!!!!  My kid is in Tyler, TX area now and I keep telling him to look for a multi-family to buy so his tenants could pay for his house and he could live for free!  Wish I started at his age......hind sight is 20/20...

Johnny

Post: Importance of business cards and Contact Info

Johnny KulaPosted
  • Rental Property Investor
  • Billerica, MA
  • Posts 75
  • Votes 10

@Mike Hurney I didn't even think of your comment about putting RE Investor on the cards...dohh...Great point!  Glad I only got 100 of them......  

Will have to rethink my approach.

Johnny

Post: Importance of business cards and Contact Info

Johnny KulaPosted
  • Rental Property Investor
  • Billerica, MA
  • Posts 75
  • Votes 10

From a newbie to others...I thought the same and said, nahhhh, I can wait for cards...Well, as soon as you open your mouth about your motives, you will be asked for a card...I ended up giving a business card from my day job and it didn't look so good...So the next day I setup my name, website and business cards are in the mail now....I didn't think it was a big deal until it was a big deal...grab some cards, even if they don't have much info on them, it's enough to let people get in touch with you!

Post: New to BP - Leominster, MA Multifamily Investor Here

Johnny KulaPosted
  • Rental Property Investor
  • Billerica, MA
  • Posts 75
  • Votes 10

@Rob Beland good to see some other MA folks on here.  Especially with as much experience as you have.  I'll shoot you a connect.  Look forward to looking at the advice you send out on posts!  Don't want to make the costly mistakes that would put me back down the road.  Glad this snow is melting too!!!! ugh!  

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