All Forum Posts by: Ed Clare

If you are still looking, I am located in the Worcester area and have just registered my business I'm starting this past week.

I have extensive history of self managing my properties short term and long term rentals. 

If you're still looking for a PM, I would very much like to discuss what I can do for you. 

Feel free to message me if you're still looking!

Ed C.

I am starting a property management company in the Worcester, MA area. I am extremely motivated to start and grow this business!

I have owned and self managed short term rental units on Cape Cod and have owned my own long term duplex for several years.

I have registered a Massachusetts business - EZE Property Management, LLC.

I don't have a website yet, but I plan on offering my extensive management background for hire.

I will take care of collecting rents, doing complete turnover, listing rentals and meeting with potential tenants onsite. I will offer lawn maintenance including lawn mowings, fall leaves disposal, and snow plowing. I will outsource maintenance , handyman repairs to licensed professionals until I can grow an inhouse staff.

I would love to meet with you and discuss how I can help you grow your real estate business by making it as seamless as possible for you!

I'm planning on attending the Worcester REI event on April 19th.

Thank you,

Edwin Clare ("EZ-E")

I would start off by having a "Notice to Pay or Quit" delivered to them in person. Sometimes that's all it takes for them to re-prioritize their bills

I've been trying to get tenants to pay via apartments.com, but I've found them to be resistant. Currently they're both paying me with Zelle

Very interested whenever the next meetup happens in the area. 

I'm in Milford, MA and I'm trying to get a Facebook group assembled for area investors

I bought a duplex in June. I've kept a checking account that I have only rent payments & expenses going into / coming out of.

I don't have an entity like an LLC or anything yet, so it's just a personal checking account that I'm using for this purpose

I would go onto Facebook Marketplace and search rental properties in your area. Also, Apartments.com (a lot of apartment complexes post their listings here), you should be able to get a general idea of what apartments are going for, and if you continually monitor you can see how long they stay on the market for... 

I use Rentometer.com because it has a good source of comps 

I purchased a duplex back in June (my first investment property), and one of the tenants is moving out due to outgrowing the place (it's a 1 BR)

I've begun cleaning the place out today, and I found that he left a large number of boxes including 2 TV boxes filled with the styrofoam and plastic inside. There was a total of 4 boxes and other random things, like a lamp, and 2 children's toys.

I'm thinking about possibly holding some of his security deposit to pay for removal and disposal of the items.

Some background: The guy had been staying in the apartment for about 2.5 years. The kitchen smells of curry and I'm going to need to scrub all of the cabinets and ceiling and replace the appliances because they're caked with material. The guy was very polite and also paid a few days early for the 2 months he paid me. 

I just think that the $10 fee for disposal would be more than fair for him. What do you think?

Let  me know what you think...

Also, it seems like people are coming out of the woodwork saying they are interested in either renting the unit outright or they know someone who they think would want to rent. I'm trying to run this like a business and plan on being very picky with my tenants. Any advice on how to force people to realize I'm not going to just rent to anyone?

Hello everyone, happy Monday - brand new investor here!

I would like to start with either a BRRRR or flip in the coming months. I think I will be able to scrounge up $100,000 of my own money once I do a cash out refi on my primary residence, I've already started the application process for that and they want to do an appraisal on within the coming weeks. I think I'll likely get $85,000 out of the equity on the house, combined with my liquid assets should bring it to 100K. I have excellent credit and DTI in the range of 12-15%...

My question is, would a hard money lender make sense for me? Maybe use my own $100K to put in cash offers on houses in rough shape, then the hard money to reno, then refinance with a bank? Let me know if you think this is realistic, or if you can see a different scenario that might make more sense in my situation... I'm definitely interested in any options, partnerships, etc.... I want to get my first property under my belt in short order!

I'll provide any additional info requested..

Hi everyone, I'm looking to get a good idea of how to analyze deals on multi family units around the suburbs of Boston - the 2% rule of thumb mentioned in Brandon Turner's book - Rental Property Investing,  doesn't really seem to hold true especially with the prices as high as they are. I was thinking that maybe a .5% rule is more appropriate, but wanted to get the opinion of other investors in the area...

Here is my situation: I'm single, 38 and my primary residence has around 115K of equity, which if I took would leave me at about 80% LTV. I have very good credit and only a small amount of consumer debt (less than 10k). I only have around $20,000 in liquid funds at the moment, but I could build that up at the rate of about 1K a month.

I've been looking through a lot of multifamily rentals in the 400-500k range (need some updating), all located at least 30 minutes drive from Boston all the way out to Worcester. 

A little bit about me:

Growing up my parents had a summer rental on the cape that I rented out to weekly renters, so I've gotten pretty good with professional interfacing with renters, that's how I know I'm ready to make this step... I'm extremely proficient in IT since I do that with my full time job with 15+ years experience.