All Forum Posts by: Chris Murphy

You are just waiving liability of the plumber. Everything will still be inspected and will fall back to the inspector if there were a catastrophic failure, your insurance would also cover it as it has been inspected and passed Ma code regulations. I am a mass plumber.

Russ Draper Which markets do you prefer Russ Draper ?

Hey MA investors! What's everyone's feeling on the Taunton rental market. Looks like tents are higher than New Bedford/Fall River. And there looks to be some decent sales with average rental of $1200 for a 3 bedroom. Curious is anyone has any input into the area definitely a place that has sparked my interest to start investing first.

Is it an electric water heater? There are typically two elements, it is possible one has gone bad. They are fairly cheap and easy to replace. I would personally recommend a lic. Plumber instead of a handy man take care of the task.

Hi all, Trying to get myself set here at BP. I've come to see that I don't particularly hear from anyone in the trades. I myself am a plumber and have worked for flippers in the past My goal is to buy and hold but it seems with my skill set trying a flip at first to gain some capital might be in my best interest as I can handle a majority of the mechanicals within the house. Just curious if there are other trades people on here that have had luck. Any input for all is appreciated Thanks

Ok, Yes we plan on staying at the current home. The other house would be a non occupant investment house. Looks like no matter what there will be red flags raised. I figured there was a chance we could get a conventional loan In her name, that wouldn't bind us to living in the house for X amount of time. I'm in the process of getting another mortgage for investment. Just worried my current primary mortgage amount might hinder the amount they'll allow to finance.

Hi all, Picking thoughts here. Me and my fiancé live together at my primary residence. ( not married yet) Looking to invest in some buy and hold multi families. She does not earn an income being a stay at home mom. Is there any way she could obtain a mortgage and I would sign as a co signer? I'm more or less looking to skip the 20% down. Being in MA that 20% is a hefty sum. That being said I'm not trying to commit any fraud just looking towards other avenues or loop holes. Thanks

Henry Li Matthew Apkarian Welcome Matt, Also new here from Mass. I've been reading through a lot of the forum. Don't know if you've set up keyword alerts but I've found them to be helpful to get the info on topics I want to learn about. Massachusetts is my number one (hence I got the alert about this post) I'm curious to find out from the both of you, how do you or plan on using your real estate license? This is an idea I've run through a few times. Henry Li do you hang your license with a broker to allow yourself to make deals? My thought was to get the license just to allow myself on the mls and possible show myself properties. (I'm still looking into how it all works. would I also need to partner with a broker in order to gain access to these privileges?) Matthew Apkarian What's your stance on getting your license? Do you plan on being an agent in the future? Good luck

Hi, this is my first post on BP. Past two weeks or so I've I jumped into this place head first.

I'm located on the south shore of Ma. I'm actually in the trades so I have no formal knowledge of finance. I purchased and sold a 2 family in the Boston market, which put a great down payment on my current single family residence.

I have a list of questions and am just going to fire them out and hope some of you out here can answer some if not all.

here goes:

Where is the best place to find pre-foreclosure/foreclosures? Are membership sites worth it?

If not foreclosures what have you found to be the best ways to find great deals?(finding rundown properties and contacting owners through public records?)

Hard money lenders: when using these do you use only HML or conventional? or can you combine a mixture of both (conventional loan with hard money rehab cost)

From what I've read most HML want 20-25% of your cash in the game like a conventional investment loan, Is this correct in my understanding?

Will a high primary residence LTV of about 85% hurt my investing?

I've always watched real estate around me and planned one day to eventually invest I'm hoping to start going after something by this time next year at best. My plan goes something like this:

Get a preapproval of a traditional investment mortgage with 20% down

purchase condo or similar priced home (going condo route seems to be the most affordable in my area for a first investment unless I can find a good deal)

If repairs are needed get a construction loan or find a hardmoney lender to finance property and rehab cost as long as loan is 70% ARV (seems to be a standard and will allow for profit making)

fix up the property decide if it is profitable to rent and refi or sell and reinvest the proceeds

^^this is my ROUGH plan. The wealth of information here often finds me two hours later reading up on several different subjects and never reading on the one I wanted too. It would be nice to know if I have my head wrapped around at least a portion of how the game works.

Being in the trades its not the actual rehab work that worries me its the finance stuff where I get analysis paralysis.

Any help or input to my lengthy post is much appreciated.

look forward to learning more here.