All Forum Posts by: Tim Donovan
Tim Donovan has started 5 posts and replied 7 times.
Quote from @Michael Vazza:
Hi Tim,
I see you're on the South Shore - I have a few wholesalers I'd be happy to connect you with. One is them is actually a Weymouth guy as well. Feel free to shoot me a message.
Also, if you stop by some of the local real estate meet-ups there's usually a good amount who attend as well.
I messaged you!!
Hey Guys!
I have a great credit score, high downpayment, and great income. The reason I can't get traditional financing is I recently switched jobs
Please let me know of any seller financing deals in Boston/ South Shore Area!!
If you know a wholesaler please give them my contact information
Thanks!!!
Post: Should I use my mom as a cosigner??
- Realtor
- Weymouth, MA
- Posts 10
- Votes 2
Hi!
I'm 24 and have the downpayment and credit to get a pre approval. I found a property, but unfortunately I can't qualify for the offer I think would get accepted due to income. My mother generously offered to co-sign. I'm a little nervous about doing this. I know it would tie her credit up and add debt. My lender said I could refinance in 24 months. I don't want to not take action but I think it outs my mom at risk which I need to take into account.
The property is a 3 family, one 3 bedroom and two 1 bedrooms. One of the one bedrooms is rented. The house is move in ready.
My cousin brought up the other option of getting a condo for a lesser price
Thoughts?!
Thanks!!
I know an easy way is look for big companies moving into the area (Starbucks, Walmart)
I have been analyzing a deal a day for a while now (duplex or triplex). After I figure out if the deal will cash flow, or how to make it cash flow, I am not sure what to do after that. I do a search on neighborhood scout, but other than that I'm having some trouble. So many people I know have their own opinion of areas but its mostly generalized and they haven't lived there but heard a good or bad story. I don't want their personal opinions/preferences to effect a good deal I found, but sometimes they make a good point.
What kind of steps should I take to analyze a location?
What things should I look for?
Is there a book that you used to help?
Should I listen to people at all, or just the people who have lived there?
Thank you!
Post: Thoughts on Rentometer?
- Realtor
- Weymouth, MA
- Posts 10
- Votes 2
Thoughts in Rentometer?
Hi!
I'm new to the group and RE investing and have been trying to analyze a deal a day. I am having a lot of trouble with estimating interior rehab costs. I know it differs greatly based on location. Ill attach a picture of an example of a house in MA. I have the book Estimating Rehab Costs and will read it next after House Hacking. I have also thought about buying Home Depot DIY books.
Is there anything else I should read?
Is there a percent that is used when estimating?
Thank you for the help!!
Stay Healthy
-Tim