Engineer · East Walpole, MA · Member since 2013 · 6 posts · 0 votes
Hello,
I am a relatively new real-estate investor in the Massachusetts Norfolk county and South-shore area. I work as a full-time Chief Engineer and Senior Development Manager at a software company and I'm looking for a better ROI for my hard-earned money than what we get with our traditional 401K's. I am looking to wholesale properties in Norfolk County and invest those earnings in buy-and-hold rental properties. Needless to say, I'm glad that after a lot of searching on the web for good real estate networking sites I'm very happy to have found biggerpockets.com, it will hopefully connect me with many like-minded individuals and investors that don't want to retire on just their 401K and mutual fund investments alone and that enjoy creating "win-win" deals for all parties involved.
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
12y
Good for you! There are definitely better ways to invest money than leaving it to the banks. Self-directed 401ks are great to invest with.
Just remember, wholesaling is completely different than rentals. Wholesaling is a job, not an investment. It can give you great capital to invest, but if you are already working and just wanting to put your current money somewhere smarter, just worry about investing. Wholesaling can be pretty intensive and not a way to invest current funds, but instead a way to make new funds.
Be sure to set up keyword alerts and stay active. Check out the Black Diamond events by @Ann Bellamy and her partners. There are quite a few MA investors here.
Landlord and Rehabber · Newton, MA · Member since 2010 · 2k+ posts · 877 votes
12y
Hi Allard,
Welcome to BP. Kris is right that there are quite a few MA investors here so you should try to connect with some of them.
Besides the Black Diamond meetings in Waltham and Worcester (which I highly recommend) there are quite a few other REI meetings in South East MA with Taunton, Rockland, Bourne and Plymouth off the top of my head.
A bunch more in Boston and North as well.
Good luck and be active on the forums asking questions and reading about things you are interested in.
Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
12y
Thanks for jumping in and introducing yourself! Looks like you have some good experience with real estate! Don't be afraid to jump in and help answer questions or ask some of your own.
Oh - and here are my favorite articles on Wholesaling:
Oh- last thing: Have you setup your "Keyword Alerts" yet? If not - definitely add some. I'd recommend adding "East Walpole" so you'll be notified when people talk about your local area.
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
12y
Good for you! There are definitely better ways to invest money than leaving it to the banks. Self-directed 401ks are great to invest with.
Just remember, wholesaling is completely different than rentals. Wholesaling is a job, not an investment. It can give you great capital to invest, but if you are already working and just wanting to put your current money somewhere smarter, just worry about investing. Wholesaling can be pretty intensive and not a way to invest current funds, but instead a way to make new funds.
Engineer · East Walpole, MA · Member since 2013 · 6 posts · 0 votes
12y
Thanks everybody for responding. For a couple of hours I thought I was the only investor out here in Eastern MA! Everybody got replies in minutes and my responses stayed at 0! Glad I'm not alone because that makes you wonder if the MA real-estate market is just too expensive for most people to invest in.
I definitely am looking to start investing in buy-and-hold properties at first and then try to add the wholesaling in the mix to fund some of these investments when I run out of my private funds. I look forward to meeting you all live at some of the Black Diamond events soon.
Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
12y
Welcome to BP @Allard Van der Heijden , thanks for taking the time to introduce yourself. Your introduction resonates with me as I just took cleared out my contributions to my Roth IRA to invest in real estate. Bye bye mutual funds, hello real estate!
I 100% agree with what @Ali Boone mentioned about wholesaling just above. I'm acquiring properties to replace my current income so I can have free time to wholesale/flip houses (If I like it!). I don't think I would have the energy/time to run a marketing campaign for wholesaling with all the things I have going on. Atleast, not while maintaining a healthy lifestyle!
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Shaun mentioned a number of good meetings/
In your profession you are sitting on a goldmine of private money. Software people are numbers oriented. Understand their retirement is not performing well and could get better performance from you.
Lender · Tyngsboro, MA · Member since 2009 · 3k+ posts · 2k+ votes
12y
@Allard Van der Heijden , you are far from being the only MA investor on BP, I have met a number of BP people at Black Diamond, and @Justin Silverio runs a BP meetup, next one scheduled for December, I believe. He can jump in and tell you the date if he has set it yet.
Also, Ann is correct. I am holding my next BP event in December. If you would like to be on the list I just need our email address to include you on my email list. I will also post the event on BP in the next week.
Investor · Cincinnati, OH · Member since 2013 · 2k+ posts · 1k+ votes
12y
Welcome @Allard Van der Heijden . Norfolk is a great market right now so nice work. Not sure how you picked it but I definitely agree with the selection.
You'll love the BP community. The insight, expertise and willingness to help is mindboggling.
Real Estate Investor · Buzzards Bay (Bourne), MA · Member since 2012 · 208 posts · 28 votes
12y
Welcome @Allard Van der Heijden to the BP community. Some good networking events to attend are @Ann Bellamy Black Diamond, @Justin Silverio BP meetup and my www.houseflippingschool.com/meetup where we meet 3rd thursday of each month. Hope to meet you soon.