All Forum Posts by: Brian Ortins

@Karin Crompton

It is hard to say without actual numbers, but I deal with a lot of condos that are majority owned by investors (less than 51% owner occupied). You stated that the association is over 51% owner occupied, so buyers should be able to get approved by a local bank for a non FHA loan (depending on health of association reserves and quality of management). I deal with sub $100k condos that I rehab so I have multiple exit strategies. Either sell retail, sell turnkey or rent. If I were dealing with over $100k condos, my option would really only be to sell retail. Let me know if you want to further discuss using numbers. Hope this somewhat helps.

@Steve Nowak

Great article! Thanks for posting the link.

@Lucky Oldham

Was not able to make the Black Diamond event tonight, but feel free to reach out so we can meet at the next event.  Hope you found the event educational.

I agree with @Rob Beland that it is not ethical to be offering a lower price than the home can sell for on the open market. You have a great situation where you have an agent on your team where you directly benefit from the commissions generated on the buy side and save commissions on the sell side. I do not see a benefit or need to join a brokerage that may expect you to perform certain activities such as office hours and pay for desk/office fees. I joined an investor friendly brokerage and do benefit somewhat in terms of deal flow, but benefit mostly due to my construction background, as I get many rehabs via the firm. I would leverage your existing agent to scour the MLS for deals, and you can focus on off market deals as a NON AGENT.

Hi Michael,

Before paying for information, why don't you research specific topics on BP and read through as many posts as you can to get a general idea about real estate.  I only feel that a mentor is an option when you find a niche that you want to explore, and need help getting through the transaction.  I mentor many clients for "free" as their investor friendly real estate agent.  I only get paid when a transaction closes.  I help with building a team, discuss financing options, help analyze deals, and walk them through the deal start to finish, and beyond after the close.  Meet with local investors that are BP members (people who do not charge you money for a 30 minute discussion over coffee) and interview investor friendly real estate agents that are experts in the real estate niche you choose (flipping, buy and hold etc.).  Be sure to attend as many free MA real estate networking events as possible to meet like minded people. I recommend Black Diamond events (listed on @Ann Bellamy signature line) and reach out to @Justin Silverio for his next free networking event in the Reading area.  Feel free to reach out and best of luck.

Who do you feel will communicate better with you and take direction?  Which contractor has dedicated all of their resources to your project?  In other words, does not have 3 other projects going at the same time.  Which will follow your timeline? Sometimes someone with "too much" experience will want to do it "his" way and not necessarily the most cost effective way.  Contractors that are used to getting retail pricing are not interested in lowering their pricing for investors (opportunity cost).  Disclosure:  I am an investor and contractor.  As a contractor, I will always take a retail remodel over an investor.  I take on rehabs/flips to keep my guys working.

@Crystal Dugar

When you say the Best way to Fast results, are you referring to going full time and needing to replace income from your job?  Then flipping may be one of the better options.  If you are looking for a return to replace your income over time, and you have $100,000 in cash (not financed or borrowed), then buy and hold would be a great option.

I would do a cash out refi and use the cash towards your next down payment, on your next investment property.  You can decide where to invest based on comfort level.  If you are not comfortable out of state, look for areas 1 hour outside of Denver that may have better cash flow.  Cashing out would mean quick cash, with a tax hit, but would not contribute to longer term financial goals.  At the end of the day, do you need the cash now?  As long as it cash flows, you can ride out any market cycles.

@Lucky Oldham

PM me for my contacts.

Welcome @Rob Beattie

There are a lot of great MA investors here on BP, so your posts will get great responses.  What types of properties are you looking for?  What is your travel radius when purchasing a flip?  Answers to these questions will help get the ball rolling as other investors chime in.

Feel free to reach out if I can be of assistance.