All Forum Posts by: Ann Bellamy

@Paige McNulty

For all of the above I recommend Andy Sullivan, Sullivan Law, Bedford NH.  He is pricey and sometimes very busy, but you get what you pay for. 

@Daniel C.

sorry I never saw your previous question as it didn't apparently tag me.  For transactional I recommend Meghan Aalerud, Aalerud and Vose in Wakefield MA, she works in NH through Phenix Title.  

IMHO (I'm seldom humble, actually, but I'm trying to work on that) your best first multi is owner occupied, in good enough condition that you can get bank financing with very little down.  Don't buy something that needs complete rehab, buy something dated but livable safe condition that you can update as you go.

You'll be able to keep an eye on your tenants and property, and you'll learn enough just from this transaction that your head will spin off your shoulders.

There is plenty of time on future projects to get into major rehabs, hard money short term financing, etc.  

My best advice: never make friends with your tenants: be friendly and professional, but not friends. I made that mistake several times. I finally learned.

For decades I always bought my primary residence with a rentable unit in it.  If I'm a real estate investor, I want my property to produce income to offset some of the costs at least so I live for cheap.  Later, when I was more stable and could afford it, I paid cash for where I wanted to live with no tenants.  

Excellent, thank you.

Jon, do you mind explaining where to park, it's been a long time since I've been to the Lowell location.

Final Black Diamond Meeting:

The Best of Black Diamond!
Highlights of some of our most memorable guests and discussions, with contact information and takeaway tips

Please bring your experiences and recommendations to share with the group, because as always, the presentation is interactive. Questions are encouraged.

Who: All are welcome

You are invited to a Zoom meeting.
When: Sep 15, 2020 06:00 PM Eastern Time (US and Canada)

Register in advance for this meeting:
https://zoom.us/meeting/regist...
After registering, you will receive a confirmation email containing information about joining the meeting.

Hello friends,

It has been 8 years since we formed Black Diamond Real Estate Investors, holding our first meeting in August of 2012, and in that time, many things have changed, and many things have stayed the same. The real estate market has gone from the bottom (or close to it), to what many feel is nearing the top.

We have worked hard to bring you valuable local content without spam, selling speakers, or constant barrages from real estate gurus. We hope we’ve been successful.

The Black Diamond partners will all continue in their real estate endeavors individually, but we have decided that Black Diamond, as a “group” or “entity” will not continue in its present form. Networking is still crucial to all of our businesses, but running a group is a business in itself, and we have decided to change course.

Our last Zoom meeting will be a networking session and a “Best of Black Diamond”, and will be held on September 15, (see details below) so that we can stay in touch and answer questions, have some fun and conversation, and plan for our Last Hurrah! Please bring an adult beverage, it should be very entertaining by drink #2! (Once Covid is over, we plan to have an in-person party, just for fun and to see old friends!)

Here is what will stay the same:

The Facebook Group, which is VERY active, will stay the same with no name change. It is a fabulous source of referrals and communication, and it will continue as is. If you haven’t joined, now is the time! https://www.facebook.com/groups/BlackDiamondREIInsiders

Here is what will change:

We will no longer have monthly meetings after September.

The Meetup Group called "Black Diamond Real Estate Investors – Burlington and Worcester" will be transitioned to AA Real Estate Group, as Nick Aalerud and his team continue to hold content-rich meetups apart from Black Diamond. This will streamline that process for him. The name will change to REI Unleashed. It will no longer be Black Diamond.

www.BlackDiamondREI.com will contain links to the four partners should you wish to reach out. Meeting content will not be updated.

The Facebook Page https://www.facebook.com/blackdiamondrei will contain links to the four partners but will not be updated with events.

We thank you for your support for 8 years, and we are sad to go. We will all be continuing in our respective businesses, however, and will hope to continue to work with all of you for many years to come.

With best wishes and hope for your prosperity,

The Black Diamond Partners, Ann Bellamy, Nick Aalerud, Daniel Stroe, Jared Smith

Final Black Diamond Meeting:

The Best of Black Diamond!
Highlights of some of our most memorable guests and discussions, with contact information and takeaway tips

Please bring your experiences and recommendations to share with the group, because as always, the presentation is interactive. Questions are encouraged.

Who: All are welcome

You are invited to a Zoom meeting.
When: Sep 15, 2020 06:00 PM Eastern Time (US and Canada)

Register in advance for this meeting:
https://zoom.us/meeting/regist...
After registering, you will receive a confirmation email containing information about joining the meeting.

Thanks for the mention, @Jeff S.!

@Anthony Simboli, I work in both MA and NH, maybe we can schedule a call?  Our lending criteria during this current economic condition is fluid, so it may be best to discuss.  Phone number in signature and profile, let me know a good time for you.  

You are unlikely to find a hard money lender to lend you the downpayment funds.  Translation:  almost impossible.  That would require that they accept 2nd position and that you have nothing to lose. 

Suggest you wait until you've got your feet wet with the first one, you'll learn way more than you would ever expect.  And prices may drop anyway.

Good point, @Jay Hinrichs thank you.

@Rich Hupper, I can't say what all MA attorneys will do, especially since I'm not an attorney.  And yes, you can get title insurance, but it will contain an exception.  And most HMLs won't lend on it.  You'll need a good eviction attorney, and to have a conversation with your real estate attorney about the exception in the title policy.  Remember, this is a MA issue relying on a specific ruling, so responses from attorneys from other states who don't work in MA, while well meaning, may not be helpful. 

Don't skimp on this.  Pay the real estate attorney for advice, and the eviction attorney for advice ahead of time.  It is an expensive lesson to learn if not handled properly.