Boston Metro Agents and Deals

[Joshua Olitzky]

Hello, new here and fairly new to the Boston market. Looking to house hack and live in a unit of a multi family to get investment plan rolling here. I've been looking at Melrose, Medford, Arlington, Belmont, Somerville, and even farther out like Maynard, Acton and Natick. If anybody has any suggestions or advice about those areas that would be much appreciated.

I've also been searching for great agents that work with investors in these markets. It's certainly challenging to find a deal. I've begun some efforts to direct mail, but do not have a solid campaign going yet. Has anyone had success finding deals via them MLS or wholesalers?

[Cynthia Nina-Soto]

No need to apologize we are here to help each other out.

1. A BPO is a Broker Price Opinion. Basically the loan servicer requests a price opinion from an area agent/broker. This is mostly done when the borrower has demonstrated a financial hardship. They pay short money in the front end ($40-$80 each) however they are a great lead source for listings and potential investment deals.

2. Pocket listings are great because you get to know about a property before it hits the market allowing you to work out a deal ahead of time. Sometimes you will see the property listed on the MLS and it be under agreement within 24 hours (most likely a pocket deal)

3. I've purchased from Auction.com, Xome, HomePath (not an auction), castlerockreo.com (mostly out of state listings)

4. Expired listings are a great source. These are people that already raised their hand and want to sell.

5. Driving for Dollars is by far one of the best lead sources. Drive around your target area and identify the ugly ducklings. Knock on the door and start a conversation.

6. You will quickly see that everything in this real estate world (and life in general) will take a lot of work and patience. Nothing is going to fall on your lap and truthfully finding a deal is just the begging. So keep at it. Ask lots of question and keep moving forward. Lastly remember that what may not be a deal for you may very well work for someone else so don't be afraid to put things out there.