All Forum Posts by: Tim Wilkinson

I would think that doing them one at a time might be more dangerous. The others may think they are next and get really nasty. 

I have a friend that bought an 80 unit place with a really bad rep in Marlboro. He cleaned it up wholesale and the town was behind him. Yours is a little smaller but I'd think you might want to develop some allies first...

Hello,

I am currently looking for buyers to put into my database and hopefully meet up with soon. 

I am compiling a comprehensive list of buyers and what it is SPECIFICALLY they are looking for and WHERE.

Any other info you believe is pertinent, let me know. 

I am currently serving North Shore and Boston, and will also look at Southern NH properties. 

Please  answer privately. 

Thank you all and I will be reaching out to each of you individually to talk shop. 

Cheers!

I think MA has a reputation about being one of the least LL friendly. I'm in Groveland, MA and I understand why you'd want to have your buy and holds in Salem area.

Good advice, Orlando. 

Hard-money is an option, but as Orlando mentioned, you have to be able to hold your own with the contractors. If you are fortunate enough to partner with someone that is super honorable and you trust them, by all means go for it. Otherwise, the things you don't know about flipping a home can really hurt you. 

Another thought, is ask an investor to mentor you through a flip or two. Depending on the cash you have to put skin in the game, you may find one that will allow you to partner with them as a student. 

Are you going to Framingham State? 

Best of luck to you. 

1Ton minisplit. It is ductless, it is electric, it is very efficient. Although I don't believe the are the best rate for conditioning a whole large home yet, they are ideal for this space. They also are air conditioning, which may all ow you to raise your rent a bit. 

Secondly, there are rebate programs from MassSave for minisplits. You can pay anywhere from $1,000-$1600 or so for a 1 T unit, but it will pay back for itself. 

You'll want to factor in at least an annual servicing to the unit as well, but I'm sure you were doing that with your furnace anyway.

I can give you one that operates in MA, but is out of Derry NH. He is very good.

are you considering a turnkey property or something that you can get a substantial deal with more reserve funds available at the end? Depending on which of our markets you're in will make all the difference.

It sounds like you have a lot of options. Obviously if you're in Wellesley or Dover or many other posh towns around here, you have more limited options, but you can definitely settle somewhere really decent in Eastern MA. I actually know of a place in Groveland, near Georgetown that has the in law suite and is nearly turnkey.

In regards to the MFR purchases, partner with someone who you can enroll into your purpose.

If you have a mid-600 credit score or higher you could do a homepath mortgage oftentimes with a 203K loan to rehab it. 

I believe you can pay as low as 3.5% if you are occupying it.

Thank you, @Ann Bellamy .

Hello all,

I recently moved from Northborough to the Georgetown / Groveland area.

It is an exciting move for me, because I think that the North Shore market is quite a bit hotter (and less risky) than "The Boroughs". 

I also have plenty of future buy and hold potential in nearby Haverhill. 

I am looking for a meetup on the North Shore. Does anyone know of one? I can easily still attend the Black Diamond in Waltham every other month. However, I'd like to meet a lot more of the local players sooner rather than later. 

If you are an active investor in this market, please give me a yell. I'd love to discuss the market and its opportunities with you.