All Forum Posts by: Brian Ortins

@Brian Huber

Just curious as to why a Realtor/Agent would take a $500 fee when the listing is presumably offering a higher commission? If the property is already listed on the MLS, then the agent can write your offer with creative terms, and you don't have to spend $500 as a fee or any other marketing expenses as the seller will pay the entire commission. Am I missing something? What is the strategy?

@Regina Sledge

I highly recommend using the BP calculators.  I upgraded to PRO so that I can analyze all of my deals and my client's deals prior to making an offer. 

@Chris S.

Welcome to BP! Take advantage of all the MA resources here on BP.  Feel free to reach out anytime. 

Best of luck!

Welcome @Lucky Oldham

There are a lot of great members on BP from MA.  Be sure to use the search tool at the top right hand corner for previous posts and responses, or just ask a new question, and the community will post helpful responses.  Are you looking to learn about a specific form of investing (flipping, buy and hold)?  What are your investing goals for 2015?  Feel free to reach out with any questions.

Welcome @Nick Noon

There are many great MA resources here on BP.  Owner occupied multi is a great way to learn about buy and hold.  What areas are you looking into? Chelmsford? Lowell?

@Steven Herman

I would offer 5%, but if the agent insists on 10%, make sure that the ongoing 10% includes the leasing fee and managing the contractor(s) during the unit refresh.  That way the agent is getting a higher steady income and you can control your long term costs.  Disclosure:  I am an agent and I manage condo units similar to what you are describing and I charge 10% including the leasing fee and as a contractor, I give my clients a cost effective price to "refresh units" after tenants move out.

@Joseph Karbus 

I would ask for a "quote" and not an estimate.  Estimates are an open ended agreement that allows the contractor to raise pricing as the project progresses.  If you sign a quote for $10,000, the price cannot be changed unless you sign a change order.  I have been screwed by plumbers that would not quote me a price, and would end up thousands above what was originally agreed to.  Nothing to do with materials, but strictly labor.  They can tell me they spent 40 hours and completed in 20, but I paid for 40.  With a quote, I pay exactly what was agreed upon completion according to the schedule.  I make money on flips with quotes, I have lost thousands using estimates.

@Jay H. 

Don't brag too much, as Bigger Pockets may increase the price of a PRO account! LOL

All joking aside, nice job!

@Account Closed 

Just out of curiosity, what is your concern? That someone would be working with an unlicensed agent? I do not have my license number listed in emails or on my business cards, but do include it in my agency disclosure form that is given to my clients, once they decide they want to work with me.  I can always verify if someone asks for it.

@Kate Robb 

Welcome to BP!  Are you tied to a specific area due to a job, school, etc.?  Would you have to purchase as an owner occupied for the lower down payment?  I live North of Boston on the North Shore, but invest mostly in Northern Middlesex County (Lowell) and Northern Central MA (Gardner/Leominster etc.).  I can make the numbers work in these areas.  Let me know if I can answer any questions about investing in these areas.