All Forum Posts by: Justin Repp

Hey folks. I have a lead on a vacant property in my area. The owner passed away a few months ago and he was single and I get the feeling he didn't have a plan in place. How can I go about finding out the status of the property? There is currently a sign on the door saying that it is being managed by a 3rd party while it is vacant which leads me to believe that it might be in foreclosure as I generally see those signs on REO's. I already tried calling the company on the sign and they were tight lipped. Any thoughts or advice would be appreciated.

@John Welz Welcome to BP!  I am a Realtor and live and work right up the road in Beverly.  Feel free to hit me up if I can be of help at all.  Happy to sit down and chat anytime to provide some insight into the market.  Good luck!

@Ashley Wolfe it is either because of location, condition, or price.  Or all of the above.  

Hey Vanessa.  Welcome to BP!  Lots of opportunity on the North Shore these days.  Good luck!

Hey Brian.  I live and work next door in Beverly.  Good luck getting the vacation property.  I have a similar goal, but not for many years.  I know a great agent that services the lakes region of NH if you find yourself in need.  Good luck!

@Sarah McCoy Welcome to BP.  I am with KW in Beverly.  Good luck getting your business off the ground!

Don't forget about appreciation.  Many folks are buying up properties knowing the cash flow is going to be less than ideal but since they did their homework they have high expectations for appreciation.  A little more risky, but I think this is where many of your deals will be found in this market.  It requires a lot of research and a long term plan. 

MassHousing appraisal guidelines are much more lax compared to FHA, however.

Agreed that the Northshore is picking up steam.  Salem is a great spot to invest in.  Buoyed by a growing UMASS campus and a hip/cultured community it continues to see young professionals flocking here that are forced out of Boston.

I would recommend just getting licensed while you are at it.  I feel like most admin that I know eventually get licensed anyway.