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All Forum Posts by: Renee Tepper

Renee Tepper has started 2 posts and replied 8 times.

Post: Looking for private investors for Weymouth, MA flip project

Renee TepperPosted
  • Flipper/Rehabber
  • Canton, MA
  • Posts 9
  • Votes 6

Here is some information about our next flip project which we have Under Agreement. Closing is scheduled in a few weeks. We are looking for investors with a minimum of $50,000, but up to the full purchase and repair price of $525,000. The interest rate we pay depends on how much one invests and if they want to become a student of ours.

Weymouth SUMMARY

$225,000 . Purchase price

$300,000 . Repairs

There had been an existing house which completely burned down sometime around 2011-2012 we think. The owner immediately began to rebuild and had the plans drawn up and poured the foundation for the new construction. And there it stopped till today!

We will be building the new house. It will be ~3,000sf, 4 bedrooms, 3 bathrooms, 2 car garage. Big and beautiful 😊

Please contact me if you are interested in more information.

Post: A “hidden” catastrophe

Renee TepperPosted
  • Flipper/Rehabber
  • Canton, MA
  • Posts 9
  • Votes 6

Sounds like the home inspector might be at fault for saying “this is the best maintained Fourplex I’ve ever seen," and not noticing the incorrectly installed siding and missing the damp wall. Some home inspectors guaranty or warranty their inspections. I assume he was licensed? Have you contacted him to discuss? 

Post: Wholesaling a property which I originally planned to flip myself.

Renee TepperPosted
  • Flipper/Rehabber
  • Canton, MA
  • Posts 9
  • Votes 6

I started flipping homes last year and have become good at it. Here is my current situation. I have found more homes than I can afford. I have never wholesaled before and want to wholesale one of these. 

(1) I am afraid of signing a P&S and then not finding a buyer, although I am in discussions with 2 potentials.

(2) The seller (executor of his father's estate) is selling it to me, knowing that I am going to flip it. But I never mentioned anything about assigning it to someone else.  I'm concerned he will feel I'm 'pulling one over on him,' since most laymen have never heard of wholesaling. 

(3) And what if I don't find a buyer. Then he will feel I wasted his time.  

(4) Plus, just to confuse matters - I am a newer Realtor and, of course, do not want to do anything unethical. Any help on any of these concerns would be greatly appreciated.

Post: Renewing a Realtor License

Renee TepperPosted
  • Flipper/Rehabber
  • Canton, MA
  • Posts 9
  • Votes 6

@Jonathan Sammarco. 

I passed the realtor exam 30 years ago, received my license and never used! Three years ago I called the Greater Boston Real Estate Board and, as everyone is correctly saying here, all I had to do was take 12 CEU's, and pay something like $350 to reinstate. I joined Coldwell Banker. I couldn't believe I didn't have to take a test but I've gotten so much wonderful information by attending Coldwell Banker's courses which are free to their agents. If you plan on working as an agent, you have to affiliate with a broker. 

Post: Granite Countertops -- Rhode Island or Massachusetts

Renee TepperPosted
  • Flipper/Rehabber
  • Canton, MA
  • Posts 9
  • Votes 6

Hi,

I highly recommend Garcia Tile in Taunton, MA.  Manny Garcia is the owner. I've used him on a couple of flips and he's done a great job on the kitchen counters. He includes free undermount sink. He has good prices for builders. Good luck.

Post: Do solar panels raise the value of a property in MA?

Renee TepperPosted
  • Flipper/Rehabber
  • Canton, MA
  • Posts 9
  • Votes 6

Hi Matt, I'm a real estate agent as well as a flipper, in Massachusetts.  I recently listed and sold a client's home with solar panels.  I found that all the potential buyers were unfamiliar with them and very concerned about them. Unlike you, these panels were leased and we had to transfer the lease. Monthly payments are made to the solar panel company, and to the electric company. The solar company was helpful but just created another concern during the sales process. In summary, having the solar panels did not increase the value at all and almost hindered the sale. It's unfortunate but hopefully people will eventually become more familiar with solar panels and understand the savings and the environmental benefits.

Post: Investor Looking for Buyers Agent in Massachusetts

Renee TepperPosted
  • Flipper/Rehabber
  • Canton, MA
  • Posts 9
  • Votes 6

Hello Robert,

I'm an agent on the South Shore with Coldwell Banker.  I am also an investor so I know how to evaluate deals.  I'd like to talk with you.

Renée Tepper

Post: 100+ year old houses?

Renee TepperPosted
  • Flipper/Rehabber
  • Canton, MA
  • Posts 9
  • Votes 6

I'm in Massachusetts and just flipped an 1890's Victorian in Dedham for a nice profit, and I'm now working on an 1850's Victorian in Canton.  I too love the old houses and love bringing the 'old ladies' back to their former beauty.  Here's the Zillow link so you can see pictures: http://www.zillow.com/homes/52-reed-street-dedham-...

Yes there's some more work involved like jacking up the house 6", gutting some old lathe and plaster walls down to the studs, removing all the old knob and tube electric, and removing all the radiators, blowing insulation in all the outer walls.  But if the numbers work I'm not afraid to do it.  

However, I'm not familiar with buy and hold.

Let me know if you'd like to talk offline.