All Forum Posts by: Andrew Sprague

@Aaron Montague

Thanks for responding Aaron!

That’s almost exactly the position I’m in right now because I have done all the research that I can possibly do and I’m at the point where I’m trying to make moves but I do not have the same capacity to close on deals as someone else does. My criteria for deals is much more narrow vs a seasoned investor or contractor who has connections and capital at their fingertips.

My question is how do I find the people that are searching for these deals and show them where they are?

@Nia Pinto

Thanks for responding!

This is something that I do on my own time because I have aspirations to invest. I always thought investors who are buying properties have already run their own numbers or have someone to do it for them. You think showing a prospective buyer an analysis and full comps for rents, ARV, and costs would be a higher level of service that other agents lack?

@Jonathan Bombaci

You bring up a lot of great points, thank you for being so detailed. I agree and think many agents are in the business for the wrong reasons such as chasing commission checks with no regard for a clients interest.

As a Realtor who wants to get into investing and legitimately has a strategy but has not done a deal yet.

How can I make myself useful to investors and bring value?

And how can I start helping people to build relationships?

Hey everyone I’ve been on BP for a couple years now and I’ve noticed a huge gap between what investors want and what agents are taught. Maybe because the general public is the largest market but regardless we need investors for the Boston housing market!

I want to start a discussion about what the goals of an investor are and what Realtors can do to help.

So below comment what 3 things you want in an agent and why? I’m curious to see the trends and responses!

@Antonio Cucciniello

Thanks for the advice I will take it into consideration.

@Salvatore Lentini

I agree, I should have mentioned it’s where I live normally outside of school. I know the area much better than where I attend University.

@Jaron Walling

Thanks for the info!

Essentially if I purchase at 100k at 3.5% down and appraise after 1 year to 200k I can realize 75% LTV and move out to rent completely? If I cash out Refi.

In an effort to maximize income on a small Multifamily property I’ve been thinking creatively about how to add value and sweeten the deal for a good tenant.

First a couple of assumptions.

1) Traditional 9/3 triple decker in MA

2) FHA loan contingent on Owner Occupied status for 1 year

3) I don’t want to have roommates in my unit...

What if I rent out 2 units and offer the tenants a storage agreement. I would let them store their extra belongings in the 2 extra bedrooms in my unit for a low fee (let’s say $50-$100 a month). I would ideally give each tenant a specific key for the bedroom which is probably 200 sqft or about 1500 cubic feet of storage. 10x10 units in the area run for $125-$200/month so I think $50-$100 is a great deal to have it nearby the tenant and 50% extra space. Does this sound like something I could do? Any advice from a legal, personal, or practical perspective is greatly appreciated.

Lastly, I know I could rent the 2 bedrooms to people for a much higher price, but essentially I’m brainstorming to see if I could navigate the roommate hassle while still getting income for the unused space.

Rookie Investor from MA looking to buy in May.

What is the process for buying a house through FHA and moving out to rent the property full time?

I know I’m required to live in it for 1 year etc. but when I move out does the loan structure change? Do I have to put cash in or realize value to get to the 25% equity threshold for an investment property? Should I refinance when I move out? If anyone has experience with this traditional house hack method please let me know.

@Salvatore Lentini

Thank you for taking the time to redistribute your knowledge and experience.

Currently I feel that I’m being held back from investing due to school. I am the captain of a division 1 swim team and we have a season that lasts until May so I feel like I have a serious commitment, and I want to invest in an area 280 miles south of where I go to school. Is this a reasonable obstacle or should I just be more creative and try to find a way to get involved now.

Additionally, what is your take on co-signing/splitting a deal with a long time friend? I have a few friends that I have gotten interested in real estate but not quite to the same level as myself so I’m sure the majority of the analysis and prospecting would be my job they would simply be funding partners. Is this viable or could this ruin a relationship/is it not smart to partner two inexperienced investors?