All Forum Posts by: Brian Ortins

I plan on attending! Look forward to the event @Justin Silverio

I was wondering if you moved forward with this condo. What was your final evaluation and decision?

You can message @Ann Bellamy for more information on Hard Money, as she is a great resource.

Welcome Eric! I live in Beverly, MA and have invested in Essex County. I am currently looking to invest in Worcester County, so I would love to hear more about your experience.

Thanks Shaun, I will research ICW.

Any MA investors currently using a property manager in or around Fitchburg? I have seen posts on what questions to ask, but would like to hear about others experiences.

Could you please post the address? Or post specific details around purchase price, total rehab costs and ARV?

If you prefer, please PM me with more details, as I am an interested MA investor.

Thanks Sam

Hi Rodney,

With my personal experience in condo investing, lenders do not want to fund condo purchases. They prefer property that does not have an HOA in place. I personally have had to use cash to fund a condo purchase. It was profitable for me, but it took all of my available cash, and tied up my cash for 4 years, even though there was a monthly rental income on the unit.

I also experienced that the lender on a foreclosed condo prefers a cash deal. The lender wants a fast close with no mortgage contingencies.

Feel free to ask specific details about my condo investing experience.

Thanks for the information Justin, and good luck! I think this is a great way for investors to discuss bad experiences with local contractors, and recommend great contractors. I will be sure to recommend qualified licensed contractors that work North of Boston if anyone is interested.

Welcome to BP! We have a great network of investors in MA.