All Forum Posts by: Doug Landry

Hello,

I am looking to re-point and waterproof a fieldstone basement. Rough dimensions are 34x40x6. There are many areas with crumbling mortar, and areas where there is clear evidence of water penetration, but nothing too serious. There are also a few areas where the fieldstones were replaced with cinder blocks.

I am seeking to have all of the crumbling mortar removed and replaced, and then have the basement waterproofed. What range of pricing should I expect in north east MA? I understand that a site visit would make this a much easier thing to estimate, but I'm seeking past experience from people who have done this type of remediation on your typical New England field stone foundation for a 120 year old house. Any insights provided would be greatly appreciated!

DL

Thanks Ann. Yes, I may be asking for the moon here, but as a commercial lender I know that the investor always asks for the moon so I'm trying my hand at that. I appreciate the referral, I'll give them a shout.

Best,
Doug

Hello All,

My brother and I are buying a 5 family in Manchester NH. I'm looking for a lender who can do 80% on a 30 year amort, 5-10 years fixed at 4.5%-6% range. I have a slew of quotes; some get to 30 years but will only go 75%; others will go 80% but only 25 year amort. Any lenders out there offering what I'm looking for?

Best,
Doug

Thank you @Guatam Venkatesan. As to the second part of my question: Suppose I now have the property under contract and CANNOT find a buyer and I also do not have sufficient funds to buy the property myself. Is there a way that I am able to get out of this contract with minimal cost if the 30 days to fulfill the contract passes (i.e. the contract expires on time), or am I still required to buy the property? Is there a clause you would recommend to protect me in this scenario, other than having a contingency?

Hello Community,

So I have a few people who I've been talking to who want to sell their multifamily properties off market. I have verbally agreed to prices and terms and we're discussing taking the next step to put them under agreement. I was thinking of keeping one and selling the contract on the other. My question is, are there any good clauses to include in the P&S so that, if I cannot sell the contract, I can get out of it with little or no damage? What if I put down a $10 deposit, and the contract runs for 30 days...if I haven't closed after 30 days, is the contract nullified and all I lose is the $10? Any advice or sample P&S's with the intent to assign would be a great help. Thanks!

Doug