All Forum Posts by: Sam Horton

@Daniel Suarez is it a condo or sfh? If a condo, read up on the master deed / rules regs and report to HOA. If single family, I'd have the tenants call the police and complain. Either way probably going to be a fun one to deal with

@Grace Na Massachusetts is tough for sure. I think the BRRR (Buy Regan Refinance and then rent. My lender here does recommend getting renters in before the refi to create a cash flowing unit first. This method with rates being so low is a good option.

Are you assuming the remainder of the loan on your parents property? I would also look into zero opportunity zones in Massachusetts if you are looking to make this a long term passion/career. 

@Kirk Frickey I agree with @Mike Sedlacek I would also suggest developing relationships/networking with Estate Attorneys. I have earned some deals through Estate Attorneys, with that you have a warmer introduction as well coming from the attorney 

@Idan Narotzki The PM doesn't matter. If the previous PM has in writing that the previous owner was going to discount rent, ask for a copy and go back to the previous owner for the money. If it's not in the lease or in writing from the previous owner then you're not obligated to pay. That just goes back to if you want to extend the current tenants lease, taking a hit now might make for a good relationship down the road. That being said offering it without verification, they could just be looking for a handout and will undoubtedly request It again when you sell or their lease is up you have to get people in to see their unit. I also wouldn't rely on late fees. 

@James Kirby Any chance of obtaining the unit tenant free in the contract? If not, then you could always hire someone to start the process for you. I've had land lords hire constables to deliver the notice. 

@Matthew Otero The general rule of thumb in Massachusetts is 6 months. My understanding is that you as the owner can refinance whenever you want. If you go through the same lender, they will likely give you a timeframe. This timeframe is so that they receive their commission on the initial deal. Some lenders can actually end up paying a fee if their clients refinance too soon. All that being said, obviously you'll want to make sure it appraises on the refi for a higher market value as well. 

@Eric Hawkes No problem. I use Nutshell, it's not Real Estate specific, more for B2B. Nutshell acts as a CRM as well as a project management tool. I've tried a lot of different CRM's but this is one I've liked the best. At the end of the day most of them offer a free trial. Pick a few that interest you and try them out and see what feels the best from a user experience. 

I would say once you choose one stick too it. Don't go chasing after the next best CRM. 

The blinds seem like a stretch for me. Your initial response seems fine my only additional thought would be allowing them to purchase and install/install their own blinds, reimburse off rent if you're willing. Then they leave the blinds when they move out (in theory). 

I personally would have a plumber look at the shower issue, and likely address it. That being said, if the other two showers have tubs and everyone in the household has the ability to access the other "tubs" then I don't see this as something you should be required to fix. 

Lightbulb in the garage, I would just fix it. 

Some of the home inspectors I work with in Massachusetts actually test microwaves for radiation now as part of their inspection. I think if there is any possibility of it create a health hazard (even a small one) I would address immediately. 

@Jacob D. I found Nutshell to be my favorite. It's not Real Estate specific, but its very customizable. It's a CRM with a project management tool for keeping track of your transactions. You can make and record calls, track emails, connect with other platforms through API's so everything can communicate. 

There is no perfect CRM. I think it comes down to your monthly budget on your business and as @Steve Bracero said make sure you actually like to use on a daily basis. Most of these companies offer at least a week long free trial account, so try a few different ones out and see what you like the best from a user experience standpoint. 

@Eric Hawkes Hey Eric - My first three steps would be:

1) Choose a mentor - Find someone that you think you can align with and lean in on for questions because you will have many. Be willing to offer them a % of your deals in order for the trade off of their knowledge. Or even better yet, see if you can team up with them on a couple of their deals for free. The best way to learn anything, in my opinion, is by practice. This creates some value for the mentor and experience for you. 

2) Develop a system - Choose a CRM and put EVERYONE you know in there. Find a filing system that works for you and a good task management system. I think most agents will agree we juggle a lot of different tasks and having these systems in place, will save you time and energy thus allowing you to go out and find more business. 

3) Find a niche - Find a specific market or demographic to focus your attention towards. When I started, I cast too wide of a net geographically and did not focus on a specific demographic either. Try and figure out what type of clientele you see yourself working with. Then focus your lead generation withing this niche... calls, networking events, social events, drip marketing, etc. 

Hope this helps and best of luck!