All Forum Posts by: Josue Velney

Jordan Crumley I agree the cape rate in Somerville is crazy right now. But I love the city. I was taking to someone yesterday and the advice they gave was for me to stack funds and wait till after the election to buy. This info may or may not help. I know the 1031 has strict timeline limits.

Taylor Johnson stay away from Medford hahaha you don't need anymore. Let the little guys play!

I don't go to any meetings. I probably should :-). I just ask a lot of questions. The key is knowing who has the answers to the questions you are asking. Taylor Johnson is correct Medford's condo market is not as crazy as Somerville and Cambridge yet. I believe that has a lot to do with the number of single fams and the prices of two fams. Medford also does not have too many three fams. The two fam I " manage " is on the Somerville line. I already have one buying ready but I'm more of a buy and hold guys must be the Marine in me. We take land we don't give it back. The good news is at one point people could not afford Cambridge so they moved to Somerville now that they can't afford Somerville guess where they are looking? Give the market time!

Hi Kendra Shaver , I would love to network with you. I have a few properties in Springfield. Right now my focus is on the metro Boston area but you never know you might pull me back your way! Hahaha

Dolores Waldron I like the way you think! I have one two family in Medford and I am still undecided if I want to flip or hold. Here is what I have learned. One all utilities have to be separated including common area. Because I'm undecided I have two cold water lines now. Plumber said it was easy so I did it just I case I decided to sell as condos. You will need two water meters. The city of Medford will make you pay $250 for the extra meter. If you get two meters then decide to keep as two family the city will make you go back to one. If you decide to go with condos have your lawyer create the docs which is like 6k. Don't make the house condos till day of closing. Two reasons one if you find a buyer that's wants a two family it's not too late to sell like that and two you will save by not paying taxes on two units. I'm talking about the taxes you pay to the city. Three if you buy as a two family after create condos you will have to talk to your bank, I believe you will have to do what is called a partial release. Almost like a refi. Reason is they would want to know what your second unit is valued at. With out the value they would not know what your new mortgage needs to be and how much money you get to keep from the flip. I hope this helps!

Taylor Johnson

Taylor Johnson , I tried in boxing you a few days ago. Did not work. Inbox me please. I would love to be added on your list. Let's do lunch or dinner sometime. I would love to get your point of view on the Somerville market. I'm was raise in Somerville and currently a fire lieutenant in the city.

Hi Taylor Johnson , please let me know if you or your family decides to sell in Somerville. Thx

Hi Chris, nice bio and welcome to the life of a land lord. Question how is big is your bank? What is the percent does your company request for down payment? I tend to look at houses in the metro Somerville area as you know the price of real estate keeps rising in my area. If I want to keep playing I'm going to need some bigger pockets (pun intended) or creative lenders.

Thanks, I am currently work with a good contractor. I had to make a lot of phone calls. You are correct a good contractor is hard to find. Yes I would love to link up.