All Forum Posts by: Ryan M.

Thanks everyone for attending.  I will put together another one soon!!

Hey everyone.  Even though it is raining, the event is still on!  

Come meet other like-minded individuals who are interested in real estate investing. Whether new or experienced, we all can provide information and tips on how to achieve the goals we have set for ourselves.

This is for newbies to the advanced, come ready to mingle and be prepared to be asked who you are looking to meet and the properties you are interested in buying, because if you don't know that, then we can't help!

See you all there!

Looking forward to it!

@Jimmy Wei & @Dan Smith

I imagine by Bradford, you mean any house south of Main st, as when I drove through the neighborhoods north of main st in the Bradford area seemed to have riff raff.

The one thing is LLC's cost a lot in MA. I can't see how people (not saying OP is going to do this) can set up a single LLC for each property they have. It's like 1-2 months worth of rent!!

@Mike Abramowitz  Another thing to mention to people looking to invest in Somerville is that yes there are a lot of people looking to rent but it's also a lot of work.  When I lived there I was given lower rent as compensation for getting tenants in the condo.  My thought was I'd rather be involved and have someone I like, rather than the first random person the land lord gets a signed contract from.

I lived there for 2-3 years and it was constant turnover in the area as there are many college and young professionals bouncing around.  Some stay for a short semester at a local college, some get a job opportunity out of state, some moved out of the country.  Every year I was looking 2-4 times for new people.  

The lease agreement was worthless as far as I was concerned people would sign and bail all the time but paid their rent (I assume as I didn't collect the rent or anything else other than finding a new tenant).  Point being there is a lot of managing when it comes to those areas. 

@Joe Splitrock Ahhhhh gotcha.  Makes sense to me now.  I was thinking they pay the late fee the following month.

@Austin Fruechting Great point, I didn't think about it like that.  I wanted a one size fits all and it doesn't work that way.  

Hypothetical Question.

You have a renter and they are late with a payment.  You charge them a late fee, but the next month, rent shows up on time but no added late fee.  What do you do?

Is it worth evicting someone over a late fee?  Where's your line in the sand?