All Forum Posts by: Alison Crawford

Thanks Blake. This would be a long term hold for sure.  We spoke up a friend who is a money manager and his thought was holding the property gives options as well as diversifies our portfolio. His advice was even at a break even rate the option is worth something so we're going to ride it out. Then we can pull a heloc to buy a new multifamily in Florida. Thanks for your input!  

Thanks Blake. This would be a long term hold for sure.  We spoke up a friend who is a money manager and his thought was holding the property also gives options as well as diversifies our portfolio. His advice was even at a break even rate the option is worth something so we're going to ride it out. Thanks for your input!  

Thank you for your very insightful advice Cassi.  We had been including appreciation as a major driving factor.  Home values in sw florida are a fraction they are here so it's good food for thought.  Thanks again for your advice! 

Hi All, 

I am struggling with a question on whether to sell my primary residence or hold it as a rental in order to start investing and could use some insight from more experienced investors. The back story is I live in a very hot town that is a high tech hot spot.  Burlington, a town outside Boston,  is building a lot of infrastructure and amenities which are attracting high income tech residents and the property values have been rising accordingly. A 4 bedroom 2 bath home sells for roughly 575-600K and in the neighboring towns the same house can go for 750-850K so there is room for the house to gain more value.  The rental income for a house like this is approximately 2700 a month which would give me about 500 a month in cash flow after running the numbers on the rental calculator based on my current mortgage.

If I sell I should clear about 200K. If I hold and pull a HE I'll get about 80K after paying off some other debts.  We need to make a decision rather soon as we are moving to another state for a new job in the next 6 weeks.  

My question is does it make sense to hold a single family in a market that the rentals are low compared to the sell price and focus on the long term value increasing or should I sell and have a clean start in a new state?

Any advice would be very appreciated.  Thanks

Hi All, 

I'm searching for a person to show me the ropes in wholesaling in exchange for a part of the deals that I close/bring to the table.  I understand the mechanics of how to do it but want some guidance regarding execution.  I've been given a great opportunity to start my journey and don't want to squander it.  I was just laid off from my job, have severance and can collect unemployment for the next nine months which means I can throw myself into this business full time and really make some big moves.  Now is the time and I need a guru.  If there are any wholesalers in New England or in Florida (since we want to move down there in the next few months) that would be willing to show me how they became successful I'd like to talk to you. As I said, I'm willing to share profits from the deals I land but I need some help with the first few steps.

A little more about me.  I've been working in high tech sales and marketing for the past twenty years. I'm not shy and I'm comfortable starting cold conversations with owners.  I've got experience in social media, outbound marketing and research. I know my why.  I am more excited about my mid life career transition than I (even as a writer) can put into words and I'm hungry for success.

Anyone interested in a protogee that is willing to drive additional income your way?  Please either reply to this post or DM me if you're interested.

Thanks!

Alison

Hi All

Thank you so much for those that reached out and the information you shared. Dan K and Russell, your insight is very helpful. We've just secured the HELOC on our primary home and are ready to start shopping. We're starting to look at 3 families in Worcester, but of course we'll need to make sure the numbers work. We just decided to start this journey in June and we're excited about the momentum and meeting some of you in person.

Thanks!

All very helpful. 

A couple asked what are we looking for...We are looking ideally for a 10 cap+, $300+ cash flow, and to have 3+ units (up to 25). If in or around Boston, could be owner occupied for different financing if needed, if in Florida, pure investment and would also need property management company to own the process.

New to the process, love the interest and help from everyone. Please help me with my first deal and I'm sure I'll be able to partner with you all on some amazing deals later!

Thanks all for your very helpful replies. 

We live outside Boston and we're looking in Worcester MA, Nashua NH and Fort Myers FL since we're familiar with those areas. 

Very excited to get this process started and wander around in this forum!