All Forum Posts by: Danielle Z.

We have a 3 family rented in Dorchester that is lead certified and we have 2 Boston Housing Authority tenants renting.  We need to do some painting/ possible minimal scraping that is done in according to RRP certification. I don't know how to find a person who can help us with this. Any ideas?

I'm considering investing via one of these or similar sites. Has anyone had any experience with this? What are the pro's and con's? We have some money to invest, but we also have careers that we love and want to continue. We prefer low maintenance investments. That said we're concerned about contracts that don't let us sell when we want or then flipping in areas that may not hold value well. I know there is always risk, but some areas almost always have demand where that may not be true of other areas.  I'm interested in talking with someone who has done this.  

Best,
Danielle

@Dan K. Also we sort of have a good brand going. We are well referred to. For that reason I wouldn’t want to share space, that wasn’t our own suite. We sort of have a process and a certain way that our clients are used to. We have our own reception etc. I don’t want to deal with the way another group manages themselves if that makes sense.

@Brett Hulsebus what does equity injection mean exactly?

@Dan K. Hi thanks for your thoughtful response. It doesn’t need a buildout as Its exactly what we would want. Im not a new business (est 8 years) but this is def new growth. The mortgage would be less than renting and I‘d have more space to potentIallY rent out. The issue is tying up all the liquid assets and also if others would be interested in joining. I’m in psych so no fancy equipment. Additionally as you mention what if we wanted to downsize and how would that look. It’s a good point.

My husband and I were looking for commercial real estate office space that would allow my medical practice to grow.  We were planning to rent, but rents in Boston are very high often 4-5K a month for what we want. So instead I was considering buying a place I found. The issue is I just made my first high salaried hire and that in itself is somewhat of a risk for us. We have reserves in case it takes some time to get her schedule full since she's a w2 and I will have to pay regardless of whether patients show or not. We also have ability to access to home equity lines of credit from both my rental property (has 500k or more of equity) and a smaller amount of equity on our primary home.  We were both excited at the prospect but my husband thought more about the risk of the new employee at the same time and is concerned this is too much risk. We collectively have access to about 70K cash plus possibly an interest free loan from my dad for 20-30k and the home equity lines of credit.  We'd take out a conventional loan of some type. The equity line would just be to help with the down payment To add to this confusion we have a first baby on the way.  I'm sad at the idea of letting this idea go as I think I have a good plan.  I have an admin and my other clinician. I thought to rent additional offices to auxilliary clinicians that would appreciate the admin services etc... Is there a way to save this. What do people feel about the risk on this?  Any creative financing ideas that would help alleviate the immediate cash need?  Thanks in advance.

Thanks for your reply @Matthew John and @Account Closed  These were both helpful perspectives.  Mike M have you been burned personally? Or this is just based on numbers (which clearly are significant). I'm just wondering if you had any bad experiences that you unfortunately learned a Lesson from.  Matthew John, have you ever been a personal lender yourself as opposed to the other end of the deal?  Thanks to you both.

Best, 

I have access to about 225k cash.  I'm trying to figure out if buying another property  and renting it is a better than being a private lender.  My husband and I are very busy with our current day jobs, I own a business which is particularly time consuming.  I thought that perhaps being a private lender might be a very hands off way to invest.  My husband is skeptical and feels there is no safety net if the person we lend to isn't able to keep their end of the bargain (he is in finance... specifically he's a quantitative risk analyst). I argued there are contracts, but he says well what will those contracts get you if they don't hold up their end (long lawsuit etc) ? Being inexperienced, I really don't know how it works and didn't have a response to him.  Currently we own our home and have one property (condo) that is a rental. It's in pristine condition and requires little work or attention on my part. If we had another rental I worry it wouldn't be quite so easy.  I don't think doing an actual flip (although I would love to) is something we have time for.  At least for now my business is extremely demanding and I know my husband wouldn't have the patience for that kind of work.  Have any of you done private lending? what were your experiences? How much did you lend?  What are typical returns? Has anyone run into problems? Anyone highly recommend or feel against being a private lender? If so, why?  If you do recommend, where do you find reputable people to work with?  thanks in advance for any advice.

Hello, I'm pretty new to REI. The only "investing" I've ever done was to rent my condo out which pays for itself and part of my mortgage (so you understand my level). I've been searching foreclosure sights and saw what looked like a really well maintained property with new roof. It's out of state for me but happens to be in the state where my mom is a realtor and is actually in her town. I'm curious about what the bids are likely to go up to. They have it at a starting price of 100K. I'm sure it will sell for more at auction, but it will likely sell for even more at market, and my mom being a realtor she could probably manage any rehab and sell it. I'm unsure of what kind of competition is in this area. Is there any place online I can look up the starting bids and then what foreclosed houses actually went for. Obviously Zillow has sold prices but I can't tell how if it was a foreclosure after it already sold. It would also be great to know how many bids there were and the start price. Any suggestions?

Thanks,

Danielle

@Colleen Prescottcould you link the article?