All Forum Posts by: Sean T.

Hey @Clayton Murray, love where your head is at!

The thing with New England is the price diversity of real estate.  Take MA for an example. 

3 Fam in Somerville might be $1 million

3 Fam on Lowell might be $5-600K

3 Fam in Worcester might be $3-500K

Keep going west and you are in the $2-300s

I'd spend some time on a zillow and look at different areas with your property type and compare the "for rent" against the prices.  

Very rarely see SFRs I buy.  Not worth the expense when google maps and a strong local team can support the effort.

That said, know yourself.  If you need or want to, you should. What anyone else does is meaningless!

Welcome @Esperita Lopez!  Where in AL are you focused?  Are you working with investors or primarily residential buyers?

@Zuriel M. Congrats!  I am not currently in the Lawton market but I do see portfolios come across and was curious who was investing there!  Thanks for the write up.

Hey @Adam Bielous, I expect verifiable financials immediately. I would never do anything without them. Often times there will be some loose numbers in MLS or with the realtor.

@Rae Mac, my neighbor has this happen in his home.  Second floor, washer drain came loose, and slowly over a night there was quite a bit of damage.  The easy fix, @Christopher B. nailed it, build a bason under the washer dryer to at least contain the water and set up a water alarm/sensor.  This at least will give you time to react, minimize damage, and hopefully relieve some stress! 

I always find the obvious and simple things seem to work the best and the cheapest.

@David G Vreeland I closed a property today, seriously 8-9hrs ago, and often fund via my portfolio.  Just a straight up margin loan.  Easy as pie. 

Now, should most people do this.  No.  Absolutely not.  There are innumerable issues that can be at play that exceed far beyond rate and terms.  Market risk, currency risk, inflation rick, etc.  If you can't think of 5 more risk factors, you shouldn't use a margin loan.

I have answered this question several times in the past week or two and it is telling me folks are looking for a magic bullet(not saying you are) and this is scary. 

My fear, again not you David, is that a bunch of folks who are brand new to real estate are going to leverage the heck out of high risk portfolios and inadvertently ruin their lives.  

Heck yes @Dave Poeppelmeier!  Congrats on this massive achievement!

@Brianne Leichliter what a wonderful, albeit sad, post.  Thank you for sharing this.

I find myself posting all the time, "call an attorney".  This story is exactly why.  So many new investors are willing to spends 10s of thousands of dollars on a property but not $1-300 on an attorney to protect it!

@Anoah Wang, lots of good advice above.  I just want to applaud you for doing exactly what I would ave recommended.  Contact a qualified attorney.  Smart move.