All Forum Posts by: DJ Richmond

Hey everyone, @Daniel McDonald and I will be hosting an informal meetup on Sept. 26th at 6:30 at Old Planters Brewery in Beverly, MA. All are welcome regardless of your experience level. The purpose is to just get together, grab a beer, and talk real estate with other like-minded individuals. Use the link below to RSVP or reach out to Dan with any questions (860-256-9522).

https://fb.me/e/3QvDxhjGK

Hi @Adonis Yancey, there are a few factors that come into play when determining what your interest rate and closings costs would be, as mentioned above.

Best advice would be to speak with your lender before even looking at properties in the area. If you're looking at residential mulfi families (2-4 units) you'd likely get some type of 30 year fixed product and your lender would be able to give you a pretty good idea on the first call/meeting what your interest rate would be (after pulling credit), type of loan, downpayment, as well as closing costs for the loan.

If you're looking to make offers on properties in Boston or Massachusetts area, sellers won't even consider an offer without a preapproval/proof of funds. Most of the country I would imagine is the same in this type of environment. 

Hey @Tom Wagner, this looks great! @George Post and I set up one last week on zoom that was awesome. We were going to set another one up next week but I'll be happy to join in on this one, too.

I'd love to hear your experience on the 203k. I did one for my first purchase back in 2016 in the Boston area and have nothing but good things to say about it. Looking forward to the event!

Hey @Matt T., not sure if they're still doing it, but in May 2019 I had a HELOC with 95% LTV with Hanscom. That was on an owner occupied 2 family. You'd pay higher rates at that level, but at the time it was only 5.25% I believe.

Thank you @George Post! Looking forward to seeing everyone tonight!

@Kyle the exact event is called: South Shore Real Estate Investor "Meet up"

I'll shoot you a message with the link. It originally took place in Quincy, but being on zoom now its easy for anyone anywhere in MA to attend.

Hi @Nicholas Mastalerz, we were doing in person meetups on the south shore in Quincy every month pre-covid and then we moved over to zoom. We're running our first of the year tomorrow evening from 5-6 pm. The event should be listed in the events tab, but if you have any problems finding it let me know. We usually get a good mix of attendees with mostly first timers trying to learn about investing, active real estate agents, lenders, and investors already in the mix. Shoot me a message if you need the link and cant find it!

@Kyle Marsh Hi Kyle, we are having a networking event via zoom tomorrow between 5-6 pm. It should be listed on the events tab. We were meeting on the south shore prior to Covid, but we’ve ran a few over zoom ever since. If you have any trouble finding it just shoot me a message!

South Shore real estate meetup for anyone looking to get started into real estate investing (multi family, fix & flips, etc.) and to network with other professionals. The purpose of this event will be to meet and talk with other members in the south shore real estate community. There will be real estate agents (myself), lenders to speak on any financing info (@George Post), newbies, seasoned investors, etc. Anyone is welcome to join! 

@Kevin Q. Parker

Hey Kevin, I started my investing career 4 years in the Boston area with a house hack. There were several components that made it successful.

1. I needed to live somewhere and by buying a multi family it made my cost of living much cheaper than renting in the area, even at 3.5% down.

2. Find something that has value add potential. Sweat equity, add living space, bedrooms, bathrooms, etc.

3. Appreciation of this will be a buy and hold for you.

I’d be happy to chat more about it anytime!