All Forum Posts by: Jenny Pena

If the property is owned by a business entity, then that should also be the "named insured".  If the property is financed in someway, and the lender has conditioned that insurance be carried, then they should ONLY ever be listed as an "additional interest".

I think it would all depend on reviewing the numbers on some sample properties then choosing what route fits best with the returns you would like and how much time you are willing to invest on the properties.  Not necessarily on repairs, but the concern would be if some areas have a high crime rate (vandalism may become a headache), and how the vacancy rates look for the neighborhoods your looking at.  

The resource section has some nice spreadsheet tools that you could play with to see how the numbers relate.  Even if you don't have any prospective properties lined up right now, It may be helpful to run through a few scenarios crunching numbers.

Thank you @Chris Farrugia The encouraging words are always welcomed.  Thank you for the links I will look into them.

Also, I almost forgot......

A GIANT "Thank You" to @Brian Gibbons for helping me to find my jumping in point!  

I definitely think many people could benefit from his wise council!  :)

Don't know if you are still looking, but I would have to agree with @Shaun Reilly I am taking classes at AREA as well (first class was yesterday).  I had taken a course many years ago in NH and spent twice as much only to pass over taking the exam after a multitude of brokers came in pitching their inflated desk fees and sparse commission splits.  What that school failed to educate us on was that their "guest speakers" were not the only options available to us.  

This experience has been way better even in the first class.  They are organized, and punctual.  The instructor is also a real estate attorney!!! Which is a real benefit not only in knowing that the information you are receiving is accurate, but she can also answer questions that are more "grey area" then other instructors.  

The price is also competitive!

Yesterday was my first class session towards fulfilling my pre-licensing requirements.  I should be a license agent by the end of March at the latest.  

If anyone has any suggestion on brokers/agencies to approach within the Merrimack Valley or Boston area of Massachusetts, I would LOVE the feedback.

Welcome!  Congrats on making the leap!

So I secured a meeting with a seller today (my first)...  I spent a long time last night running the numbers.... again and again and again to make sure they were accurate....  so OF COURSE... I had questions.... lol

I spent my whole morning reading information I have gathered... did I miss something?

but, atlas, I called the seller, and he wants to meet to discuss his needs.  

I just needed an outlet to share.  (I'm a little proud of myself)

I also wanted to say thank you to @Brian Gibbons for making himself available to discuss some details and give some fabulous feedback & advice.  It was a pleasure to get to speak with you!

My head tends to go a little into overload when I try to pour to much info in, I tend to get all distracted with what feels like 1 million thoughts a minute...  And it usually shows in my notes, they tend to be a mess, but when I am able to focus and understand the information because of the way it is presented, I go into my "Focused Doodle" mode.... what can I say..... they say you can tell alot about a person by their Doodles right?..... I just had to post a picture side by side to show.....  

When I'm hearing noise/or regurgitated info.... and when the information is practical and fully explained!

My noise notes after talking with a quack attorney (on the left)

The notes from my conversion with Brian (on the right)!  Thank you so much offering me you time today!

AND ALWAYS MAKE NOTES!  even if you don't use them afterwards it has been theorized that writing creates muscle memory and helps you to retain information better!!  So I doodle! 

UGH.... why was my last post double spaced?!  

Massachusetts Law is deeply rooted in "common law" and so...  if I am correct...

 (insert "I am not an attorney disclosure here)

it simply states that "consideration" is necessary for a contract to be valid.  

Consideration is defined as anything "of value"..... so there is no set amount.  

So I suppose I could even put up the family cow and some magic beans!  LOL

Just a side note: 

I have read many recorded transaction records at the county registrar that show

"$1 as consideration" 

in order to validate a transfer of property between family members.

Thanks @Guy Gimenez , I understand that each state is different, I tend to speak more to my own circumstances where it is required.  Maybe, I need to come to Texas then, LOL.