All Forum Posts by: Robert Granara

I see your from Norwood...I'm on the North Shore, basically still greater Boston...my experience is that cash flow inside 128 will be very difficult...even inside the 495 belt will be tough but doable maybe in the cities of Lowell and Lawrence or down closer to you say Brockton or Taunton ...to get good cash flow you have to go to central Mass or even RI...

Buying a single family for a rehab deal...I usually like to replace the woodwork with new trim, but this one has natural woodwork that is in decent shap ([b]not banged up too much) however it has lost its look and is a bit tired...was wondering if I should try and bring it back, something tells me I should...any ideas?

I've listed entry only listings many times...I sell all my houses this way...I have also listed a few of my rentals this way but have had better success on craigslist and the newspapers...

Jonathan,

A lot of investors, myself included use hard money to finance deals...When I hear of exit strategies I think of getting out of hard money...when you use hard money you need to make sure you have multiple "exit strageies" so that you have many options to get out of the higher interest rate loans associated with hard money loans...these are the 2 exit strategies I use:

1)buy, rehab and sell
2)buy, rehab ,rent, refinance and hold

Dee,

How many HML's did you go to?...first off I'm not sure I like the numbers on this one, but without knowing more about the property if I were to be into a 4 unit for $460k I'd want to be taking in at least $6k per month...unless all 4 units are 3 bedroom units I doubt you'll be taking in $6k per month...the income/cash flow is only 1 factor the HML's will be looking closely at...it is very hard to find good multi family deals in the greater Boston area, they are out there just very hard to find especially in the Walthams, Watertowns, Arlingtons, Somervilles type cities...you need large down payments in order to cash flow in those cities close to Boston...

Also say if you were to get a HML on this property what is your exit strategy out of the hi interest loan?

I get uncomfortable telling people how many properties/units I own...that's just me, I know I should more proud of my hardwork but I don't like to boast/brag

I'd be interested in this note...send me a pm or email me [EMAIL REMOVED]

Not sure if this is a state law I'm looking for or what...but I got a 3 family at auction last week here in Mass...the owner lives in 2nd floor unit...The other 2 units are occupied by TAW, so I know how to deal with them...

I was told by another investor that there is a new law that after a foreclosure the owner has 72 hrs to vacate the premise...anyone know if this is correct?...or do I need to proceed with a regular eviction like a tenant...

Do you already own the house?...is it fully rented ...what are the numbers, if it makes sense you can find a lender, but it may depend on the size of the loan also...where in mass is the property?...i buy with hard money then rehab, rent and refi into a commercial note and usually get most of my cash if not all back (mostly 3 families)...

Buy a 2-4 family in a decent blue collar area, fix and rent out but keep one unit open for an owner occupied and market it to them, as they can live rent/mortgage free...if you can't sell at least you have income coming in and if your area allows you should be making cash flow or at worst break even to cover your carrying costs, this is my strategy now that I have 20 rental units and vie been working this now on 3 deals....just another idea to give you more exit strategies