All Forum Posts by: Justin Repp

@Edgar Avila have you hung your licennse with a broker yet?  That would be step one.  

I would recommend before writing up an escalation clause, that you speak to the list agent first to make sure they understand them, and accept them.  Some agents and sellers frown upon escalation clauses.  They have a time and a place in my opinion.  

My suggestion is that in submitting the offer, you make it crystal clear that the only reason you are rolling out an escalation clause is because you want the property badly and just don't know how high you need to go to win and NOT because you aren't willing to pay a premium.  Some people view them as being cheap.  Also, make sure your initial offer is at least a few thousand over asking.  I have had an escalation clause submitted to me as a list agent that started below asking and went up to $15k over.  

@Mark Pitzi can you PM me with the addresses.  I have folks looking and I could be interested myself.  [email protected]

@Edward Mills as others have mentioned you probably could do better to sell and reinvest in an asset that produces at a higher rate of return.   Where is the property located?  Depending on where you are is going to be a huge driver for how you make your decision.

@Account Closed Welcome!  What are your target areas?

@Kara Ducasse welcome!  I live right up the road in Beverly and do all my business on the north shore.  Give me a shout if you ever want to grab a coffee and talk shop.  Good luck!

I see where your head is at....buying a SF is better than nothing....but I would advise you to instead expand your search area to include more affordable communities that are still accessible via the commuter rail.  As others have mentioned, there is some better opportunities once you travel 30-45 mins outside the city.  

Not that owning a SF is bad, but if your thought is that you can start building that equity to help with future purchases I would caution you. If your suspicion is that the market is in a bubble (maybe right), it will impact the SF's just as much as the mf's. So, if you hypothetically buy a SF today, pay down your debt for 2 years, and the market turns, at which point you try and do a HELOC/home equity line/refi you are still in a tough spot as your value has diminished and that equity you are looking to tap into is no longer there. If you do go down this road, my advice would be to think long term no matter what you do so you can ride out any bumps in the road.

Hey folks,

I am in the early stages of exploring buy and hold opportunities in Lowell/Haverhill/Methuen.  I'd love to network with active investors who own multiple properties in any of these towns.  Doing my due diligence and would love to learn from those who are actively involved in these specific markets.  I'll buy the beer/coffee!

Cheers,

Justin

Hey Michael--Where are you looking to do your business?