All Forum Posts by: Michael Fratalia

Welcome to BP @Kenneth Farrell!  Start young, you're heading in the right direction.  Earn, save, invest, repeat.  Keep doing this wholeheartedly and eventually your investments will be bringing in more than your W2 job.  Keep it up.

I'm out in Westwood, MA but I'd be happy to help in any capacity with your Real Estate search. 

@Account Closed great advice!  A well experienced man, it seems.  Thank you for that.

Hi @Rodrick Wright, welcome to BP!

@Account Closed is right, the podcasts are great.  That's actually how I first found BP was by stumbling across the podcasts on iTunes.  Really great stuff.

Feel free to reach out anytime.  I'm an agent out of Westwood, MA but I have a lot of contractor connections and real estate connections on the Cape.  I'd be happy to connect you with whoever you need down there.

Good luck!

@Thomas Hickey

I don't know for sure but I'd imagine they did.  Norwood is pretty particular with their zoning and "special uses".  In any town it helps to know somebody who can help get your approval through.

@Thomas Hickey, I've seen a few of these in the area.  Somebody in my town bought a big old Victorian that was run down and beautifully restored it to make it into some sort of special needs housing.  There is also a large Victorian in the area that was made into a rooming house not long ago.

Do you have a specific property or town in mind for this project?  MA might have certain guidelines but the town level is where it will get very specific.  Depending on the town and the location within their zoning boundaries or may need a special permit from the zoning board or the board of selectmen.  Again, every town has different rules.

My approach would be to compile a short list of towns I'd want to do this project in and then contact each one.  Ultimately pick the town that will be most friendly/forgiving toward this style of housing.  Also, don't rule out similar types of services - elderly or assisted living, housing for deaf or blind, some sort of physical rehabilitation, etc.  Especially if you can help service patients of a local hospital or students of a local school, etc.

Feel free to reach out for any help.

@Timothy Woodland, congrats on your first multi!  It seems like you're doing it right, owner occupied for financing, rehabbing one unit at a time while renting the other two out, can't beat that.

Please reach out to me if you have any questions about the market or need any help with finding good quality tenants for the renovated units.

Also, I've worked with some really great contractors in the past for grading and paving.  Give me a shout if you want names and contact info.

@Edgar Avila, congratulations on getting your Massachusetts license.  I see you're from Manchester NH, will you be practicing in both states?

I would recommend looking into Keller Williams also.  They have some really great training and technology available to the their agents plus profit sharing and a capped commission split.

@Rob Poulin, I have a painter based out of the Bridgewater area that I can recommend.  I'll send you over a colleague request.

@Pete Schwan and @Rich Thomas, both great posts.  I too have been thinking about these same ideas in the Boston area (and more southwest of the city were I live and work).

I'll be following this thread closely, thank you.

Pete, where and when was this seminar?  I would have loved to attend.  Hopefully I can grab the next one that pops up in the area.

@Kevin B., sounds like you found a great deal.  Depending on your situation, I think @Jochy Perez is right - try to get somebody else to pick it up while you make a fee in the middle somehow.  Keep that money aside so it's ready for your next investment opportunity.

@Tory Kelliher, I'm local to you - practically next door!  Reach out anytime if you need help with anything real estate or contractor related.  I work with lots of investment property owners and tradesmen in the area.

Hey @Andrew Massard, welcome to the forum!

Lots of really great info here and on the podcasts.  Be sure to set up some automatic alerts so you can keep on top of the stuff going on here in eastern MA.

I'm a commercial and residential agent based out of Westwood, MA.  Feel free to reach out anytime with questions or if you want to see a particular property.

Best of luck!