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Updated almost 9 years ago on . Most recent reply
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Mortgage officer/Investor 30mins from Boston
Hello everyone. My wife and I are in the industry as professionals. I currently am a licensed loan officer dealing with all types of residential mortgages in MA and NH, I have access to over 25 private lender/investors, which is where the bulk of my real estate networking comes from. My wife has over 10 years experience in property management, between the both of us we have lots of advice and add a lot to the table for any investor. This year we are looking to put more rental units into our portfolio as well.
Our first property was very recent, I took a lot of looking because we had high standards. The goal was capital gain potential, positive cashflow while living in a unit, big back yard, extra parking, extra storage, and not far from the highway. It took us months and several realtors telling us we were unrealistic, we found a 4 lot property, with an oversized 4 unit multifamily building, and 4 detatched car a garages on one lot and a parking lot on another, totalling over an acre near a downtown on an appreciating city and a minute and a half off the exit to the highway.
We could use more ideas to add value to the property in the least expensive ways, as this property has so much room for potential. The first thing we did was increase the rents, and give one tenant a 30 day notice to vacate. I should mention we currently have great tenants. All the units were updated and look great other than the 5 bedroom unit we are living in.
So there's some details about us and our first investment. If anyone would like bounce ideas off me about mortgages (I understand not to advertise here) I'll be sure to help as it's a good way I can add value. If your reading this, reach out to me and introduce yourself, I have a large network and even if I don't have what your looking for I probably know someone who does!
Most Popular Reply
Great intro and welcome to BP! You'll find a wealth of information on this site, as well as the opportunity to expand your professional network. I recommend checking out the local meetups. Good luck!