All Forum Posts by: Shaun Reilly

Hi Nadav, welcome to BP.

This is a great place to learn. Make sure to listen to all the BP podcasts, read the articles on the main blog and be active in these forums to learn a ton very quickly about any topic in real estate you want to know more about.

This is also a great place to meet people that can be assets to your business. Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.

Besides doing that on here make sure to get out to some of the many local investor events we have. Personal favorite is the Black Diamond meeting every other month in Waltham (Alternates with their Worcester location, next Waltham will be May). There is also the Boston Area REIA in Medford, the Boston Wealth Builders in the city and the Boston REIA in Dedham that are all in the area too. Beyond that there are many other options both north and south.

I don't know who you are talking to exactly but if you are looking at a professional private lender AKA Hard Money Lender they often require you buy it with a business entity (LLC, Corp, LP etc...) since they are commercial loans. That doesn't have to be the case but after a couple dealt with a borrow moving into a flip and saying it should have been a residential loan and subject to all the rule, regulations and home owner protection that comes with those this is now the norm. People can still try to make the claim but it is a lot harder to argue it was a loan in a place you intended to live in if you bought it with your company.

Unfortunately LLCs are relatively expensive in MA but if you are going to try to do rehabs and use Hard Money it is probably going to be necessary. 

Hi Hector, welcome to BP.

This is a great place to learn. Make sure to listen to all the BP podcasts, read the articles on the main blog and be active in these forums to learn a ton very quickly about any topic in real estate you want to know more about.

This is also a great place to meet people that can be assets to your business. Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.

Besides doing that on here make sure to get out to some of the many local investor events we have.  You should definitely make sure to check out the Black Diamond meeting in Worcester (Alternates every other month with its Waltham location, April is a Worcester month).  Since you are interested in rentals there are a couple of landlord focused groups to check out as well, the masslandlords.net group and the Northern Worcester County Landlord Association (NWCLA) that meets up in Fitchburg I believe.  Lots of other groups when you come east stretching from the Cape up into NH.

Hi Peter, welcome to BP.

This is a great place to learn. Make sure to listen to all the BP podcasts, read the articles on the main blog and be active in these forums to learn a ton very quickly about any topic in real estate you want to know more about.

This is also a great place to meet people that can be assets to your business. Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.

Besides doing that on here make sure to get out to some of the many local investor events we have.  I enjoy the NEREIA in Chelmsford which is probably the closest meeting for you.  My personal favorite is the Black Diamond meeting in Waltham which isn't bad for you either (Alternates every other month with it's Worcester location, just had the March meeting so next Waltham one will be May).  Another good one you just missed was The Boston Investor's quarterly meetup in or around Woburn, believe the next one will be June.  Lots of other options around Boston and all up and down from the Cape up to Manchester, NH.

Hi Yatznira, welcome to BP.

This is a great place to learn. Make sure to listen to all the BP podcasts, read the articles on the main blog and be active in these forums to learn a ton very quickly about any topic in real estate you want to know more about.

This is also a great place to meet people that can be assets to your business. Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.

Besides doing that on here make sure to get out to some of the many local investor events we have. While we have lots of them in MA not many are out your way which is the bad news. The good news is that the closest one to you is the Western Mass REIA in West Springfield which is an excellent group. You should connect with @Bob Couture here and get out to one of those meetings. 

Hi Brian, welcome to BP.

This is a great place to learn. Make sure to listen to all the BP podcasts, read the articles on the main blog and be active in these forums to learn a ton very quickly about any topic in real estate you want to know more about.

This is also a great place to meet people that can be assets to your business. Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.

Besides doing that on here make sure to get out to some of the many local investor events we have.  As mentioned @Mike Hurney runs a couple of meeting up your way, one of which I believe is in Danvers.  If you are looking at NH then you can make the pilgrimage to the NHREIA in Manchester and I also enjoy the NH Real Estate Mastermind group in Nashua.  There are plenty of other groups around Boston and south as well.

Hi Vanessa, welcome to BP.

This is a great place to learn. Make sure to listen to all the BP podcasts, read the articles on the main blog and be active in these forums to learn a ton very quickly about any topic in real estate you want to know more about.

This is also a great place to meet people that can be assets to your business. Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.

Besides doing that on here make sure to get out to some of the many local investor events we have. As already mentioned Mike runs a couple of meetings on the North Shore (Peabody and Danvers I believe) which would be easy ones for you to get out too. Other things around the city would be the Boston Area REIA in Medford, the Boston Wealth Builders in the city and the Boston REIA in Dedham. My personal favorite is the Black Diamond event in Waltham every other month (Alternates each month with their other location in Worcester, just had this months meeting so the next Waltham one is in May).

A few years back I heard a lot of people being lazy and just saying they threw out a ton of offers on REOs at half of the list price.

As others have said bad strategy in both directions.  If the property is priced reasonably then you are just wasting your time and on the other side it might be so out of line that paying that price might still be a bad deal.  Not as much these days but a few years ago there were many places that 40-50% of the listed price would have been way over paying.

Put in the small amount of effort to get a rough idea of value and do your offers off of that.

 Cool!

Much more useful now.  :)

So where are the lists?

I don't see them anyplace.  

Not on my profile, my profile options, my dashboard, with the inbox or with the private notes.

I did create one so I did make sure I was looking for something that existed first.  :)

Also is the only way to create or add to a list to go to the persons profile?  While fine when you make new connections it would be a bit laborious to go through hundreds or thousands of existing connections to click on each profile to add to a list.

Obviously not many people are going to click through every single connection they have if they are in that range but it would be nice to pull up your colleagues and have the option of just adding them to a list without having to go through that many steps.

Think it is a great idea though!