All Forum Posts by: Daniel Consalvo

Felipe,

I also started investing in residential RE when I was 22! I am from Leominster MA! I am currently a buy and hold investor in the area. I have a lot of experience in this area. I recently got my real estate salesperson license to facilitate my investing goals. It is much easier in the current competitive REI environment to enter homes and make offers when you don't have to wait around for other agents to get you in the door. You can also write your own offers and send directly to sellers or sellers agents. If you need an opinion on anything RE related feel free to BP message. I'll be happy to assist. Good Luck!

Dan Consalvo

Hi Darina,

I am a life long resident of Leominster which is the "twin" city of Fitchburg.  I have been investing in Leominster, Fitchburg and the surrounding areas for 20 years.  There are areas of Fitchburg that are decent.  I own property in C and B areas and they do cashflow nicely. (25%-30%)  You would really need to drive around the city to become familiar with what areas are best for investment.  Typically to outskirts of the city along the border towns are the better areas and as you get closer to downtown and the University it gets more rundown.  There are better areas in Leominster and the rental pool is more desirable but the prices are higher and cash on cash return will be less than Fitchburg.  Usually low 20 percent in Leominster and 25-30% in Fitchburg cash on cash if you buy right.  Fitchburg could very well be a dying city so I would proceed with caution.  It is currently stable due to University, government grants, and lower prices and rents than nearby Leominster.  Being close to a peak in economic cycle and possible student loan bubble, this city could be headed for regression.  Leominster is very strong and it's 6 route 2 exits make it a prime commuter location, offering cheaper rents  and home ownership rates for those living east of the area.  

Regards,

Dan Consalvo

Thanks Brian!  I'll check out website and call with questions.

Sorry Suzanne,  I should have been more specific.

Does anyone know of a reliable property manager for the Leominster Fitchburg are?

I am at nine units and growing and need to start thinking about turning some of these units over to a manager.

Thanks,

Dan

5 units currently. Managing them is a breeze. I had up to 14 units as well as a 40 hour Corp job. That was a bit of a challenge! For me anyway. Everyone has a different threshold for work. If you find yourself not enjoying Owning the properties it's a good indication you need help/PM or less units.

Alexander,

I don't plan on leaving my job to be a RE.  I plan on eventually leaving when my portfolio and experience level are adequate.  I was just wondering if there is any advantage to having a RE license while being a RE investor.

Thanks for the concern,

Dan

Thanks for the response Alexander and Dante.  As I transition away from my 9-5 job I think becoming an agent/broker might help with personal income and property leads going forward.

Thanks again

I am currently investing in multi family houses as well as flipping/value add and hold.  Can anyone list some of the advantages, if any, a real estate license could give someone like myself?

Thanks,

Dan