All Forum Posts by: Christopher Moran

i just took one out 2500, no contamination, he's taken out over 200 and had 5 contaminated.

Don't be scared ,negotiate price and go for it!!!  Just FYI 10k was price if land was contaminated..If your using bank financing they will want it out ,and INS company will want it removed before they give u a policy 

I have a potential candidate for lease option, she has the property rented out right now. So do we have to wait for rental agreement to expire? Should the property be vacant? Not sure if that's a good idea for insurance reasons.. And can anyone shed some light on rent credits? Does the $$ go into an escrow acct set up by an attorney? Does the down payment go into escrow? And how do I receive my fee? Bank check from seller in my name? When the time comes to purchase property at the end of lease I'm assuming there's closing costs involved paid by the seller?  

Thanks for the input

Hey Beau,

check out Jackson Home Inspections, they were at an REIA meeting I was at and were recommended to me by another investor

get a deposit from cash buyer so it will be A lot harder for them to back out of the deal.. If it's A good deal find the funding and do the project yourself . "hard money, private, or even A investor friendly bank" my father and I just bought our first investment property using A bank .. We had the mortgage in less than 3,weeks 

Are they multi family units ? If so you'll need to track down where the owner lives.. I got a list from city hall for the same thing and they where all landlords who really didn't care about the violations!!! Try your local courthouse see if you can search there database 

I've been going through the same thing with my father , my problem with cash flow properties especially in Boston, if you buy at market value how are you going to get the 20% back out of the property??? putting 100k into a property and waiting for it to appreciate to do A cash out REFI.. how long is that going to take? I wouldn't purchase a rental property for more than 80% market value.. But who  am I ,, 4 months of investing that's my thoughts on it..

That's absolutely not ok!!! I'm also a licensed GC in Ma, if he cant provide his own tools how can he do the job?? Every contractor should have a MITRE saw  I use it for everything I do and you can buy A cheap one for 120 bucks.. Be careful and post the out come should be interesting.. Power painters are nice but not necessary . 720 should come off your bill no questions asked if purchases are for material only!!

@Josh Reynolds ,

I have no problem paying for A lead, but I'd like to close on it.. My birddog's understand what I'm trying to do 

@Robert Kohalmi ,

I'm closing my first deal Aug 15 single family in Dracut 4 Acre lot with a single family on it. My father as my partner..In the process of subdividing the lot to build new homes, If we get an offer on the land we'll sell but in the meantime It's a buy and hold. Working on wholesaling to build cash flow in Somerville, Malden,Revere, Everett, greater Boston and Middlesex county. Using Yellow letters and driving for $$$$.. I have realtors calling me all the time with foreclosures on the MLS , I low ball it and see if it sticks, Build a buyers list and know what the want to make on a flip, rehab cost, wholesale fee, and some wiggle room... That's what I'm doing until I find a better way..

@Robert Kohalmi ,

Welcome to the site , I've learned a ton from the site great place to learn. Justin's meeting is great, I went last month.. I grew up in Somerville maybe I know your cousin? ! podcasts are great I listen every week..