All Forum Posts by: David Briley

Is 50% of purchase price on just the price of the land?

@Silenceux Francois @Graham K. I am using the "series postcards" from yellow letters.  However, I'm pairing them up to the targets on my list.  Hope that helps.

Nope, I got that.  I've got mailing experience, just looking for advice on the target.  After an exhaustive search, I've got a set of high converting postcards and we're going to do 6 touches for each name on the list.  

OK, I'm getting ready to send out my 1st big mailing for investment properties in Massachusetts.  I live in Amesbury/Newburyport area and so do my cash partners.  We would like to target homes anywhere from there down the 95 corridor to the lower part of the North Shore Beverly --Peabody, Danvers, and Salem areas.  I used to live in Beverly and work out of Salem, so I know those markets well.

What should I target?  I feel really comfortable working with short sales, foreclosures, and folks with inherited properties, but distressed properties are definitely in decline right now with the high market prices. So should I:

a) mail to the financially distressed homeowners anyway b/c they may not understand their options

b) mail to absentee owners

c) mail to high equity owners

d) mail to probates

e) you have a better idea!

Any idea with support will be strongly considered! Thanks, y'all!

Anybody using this in Massachusetts?  Especially on the North shore, (Beverly and Danvers on up to Amesbury)? 

That was quite a clinic @deejantsan and @AnnBellamy. The operating agreement is really the gist of what I need. Either of you have a turn key or bare bones one we can use as a starting point? Or point me in the right direction?

I understand the concept, just checking need the legal and accounting structure part. 

I want to form an LLC with two private investors. I'll run the project and they'll pitch in various amounts of money. Once we get an accepted offer, then we'd just create an LLC just for the property we're working on.

Any tips on how to form an LLC for one flip in Massachusetts or to facilitate this?

Pitfalls to watch out for?

Strategies?

Cost of creation?

@Angie Briggs , Yes. Sell.  You'll never get as much as you will right now.  @Charlie MacPherson  is right.  Anything inside 128 is "bubble town."  

As far as Central MA goes, Leominster is a good town and you can make money in Gardner too.  With multiple MFRs, You could also spread your risk a little more, or take some of your equity and put it into a flip while the bubble still grows.  

@Bijal Patel , I think it's $25 for first 6 months.  PM me and I can sent you referral link if you'd like

@Todd C. , Here's a link to posts of the pics.  https://goo.gl/photos/Us8u2XuU5J6gEdfP6

Green are seller side tasks and yellow are buyer side tasks, but please keep in mind MA transactions are slightly different than most states.  Hope the pics help!