All Forum Posts by: Dave Megowen

@Irving Vizcaino First I would use Mold Control by Concobium. You can spray it on or use a fogger. This will mitigate the mold issue. If needed you can prime an paint the wall with stain blocking paint. Next you'll need to find the source. I'm not convinced from these pictures the it's a leak from the bath above. If water was leaking to create mold on the ceiling I would think you would see water stains. The mold is most likely environmental. Does this bathroom have an exhaust fan? Does it have a window? If so is the tenant using the fan or window? Is the mold near the shower head? The source is likely from the bathroom not being properly vented while the shower is on. For the record I'm not an expert.

@Timothy Lanza The options are endless.

Do you have a real estate lawyer and accountant? I would ask their opinion to help make your decision.

I believe in MA it will cost you $500 a year to register a LLC (someone correct me if I am wrong).

I would go with residential financing for the better rate and term.

If you put it in your name you can always change it later.

Once you scale you can start an LLC and figure that out as you go.

Lastly I would only add one person to the loan as this might make it easier for you or your partner to line up financing for your next one.

Hi BP,

I am looking to fund a fix and flip with conventional financing in the Central Ma area. 

Has anyone had success flipping with conventional loans in Massachusetts?

If so any lender recommendations?

I would be financing the rehab portion myself.

Thanks

@Daniel Pessin

I also use Cozy.co. It's simple and convenient and they offer other services too. You can create a listing and then share and post the link and I believe Cozy will list on multiple sites for you.

I have been using Cozy for almost two years and have never had a problem.