All Forum Posts by: Kristopher K.

Matthew Dovner I should have mentioned the contractor for the primary is also licensed.

Matthew Dovner , I've recently pulled 2 permits. One on a primary as the homeowner, the other for limited work for electrical. The homeowners permit was more paperwork and waivers. The electrical was a licensed contractor and much easier, I just did the leg work. Check with the local dept.

@Alex Silang , so I can't answer specifically good/bad areas for you because I think everyone's threshold is different. It seems to come down to how much effort for how much return. I think @Jim Montville is right one as far as how things change out there, but also Worcester has a large geographic footprint. It means you have different areas that are good and offer different demographics. @Paul Timmins mentioned student housing. There are a lot of colleges in Worcester, I think some are expanding into different areas which might change the way you look at certain prospects.

Best advice I could give is get connected with some locals, there's a few on BP. Go out and drive it at different times and days. I think your current location could factor in, but not sure. There are parts of Worcester that I did not like growing up, after spending time in and around Boston, those areas aren't so bad to me now and some are even tolerable! ;>

The areas I "browse" now are Greendale, Elm park, Indian Lake, Newton Sq or whatever it is over by Worc State, and Quinsig. (I haven't actually landed any deals out there yet but I will). Every property I've had offers on out there, I've lost out to cash buyers. Personally I see a ton of potential out there for developing my portfolio.

I think with a little study and some driving around, you'll fill in the blanks pretty quickly. Read theT&G too, watch the areas that show up, check out neighborhood groups to see what they are dealing with. It really is like you said, some good and bad. With some work you'll figure it out.

Hope some of this helps.

Hi @Brian Ortins , how far are out you willing to travel?

Hello @Mark Derby , welcome to BP. As @Shaun Reilly mentioned check out some meetups. I've only been to a couple south, look for the HFS meetups that @Mike LaCava hosts.

Don't forget to check out the podcasts too, we have a few MA folks on there!

@Luke M. , I like that you factored in the PM even though you won't use it on your first deal. Nice job.

Thanks @Brian Ortins , hopefully I'll be able to write that post someday!

@Brian Ortins , I actually am looking for combination properties in those areas. For instance the one I have at the cape is one seasonal and one yearly.

As far as Worcester, mainly I am looking around Elm Park, Indian Lake, and over between Worc State and Salisbury St. but am considering other areas too, including some towns around Worcester.

Unfortunately I am the management for now but I only have the Southie and Cape properties. The seasonal unit at the cape will come online this year. If/ when I get something up North I will look into mgmt companies up there. In Worcester I'll hire based on needs. Cape I am not decided yet...let you know soon on that!

My real point in the post was that they are areas I know. I grew up around Worcester, spent a lot of summers on Cape...Dennis specifically, and have spent a lot of time in NH and parts of ME. I have family in each area also so I know setting up the systems will be easier. Aside from North, the commute or distance isn't a big deal to me yet. I have to develop the systems as I go because this is not full time for me.

I am far from what I would consider "experienced" so certainly take this all with a grain of salt. It's just my perspective. On the other hand I'd never look at something like a turn key in CA because for me that's too far but there are plenty here on BP that do things like that successfully. My "local" market is beyond my reach right now so I'm simply expanding my farm areas. More work, sure. Less cash flow, sure...but it's a start. I'm not afraid of putting in a little extra effort.

Hope that all helps in some way, if not shoot me a PM.

Kris

Hi @Alex Markle , welcome to BP.

I am targeting some fairly distant markets. I actually have a property in South Boston, not too far away but it takes a while to get in because of traffic and parking. I have another that is on the Cape, 85 miles away. I'm looking in Worcester, North Conway, and parts of Maine.

But they are all places I am familiar with and places I know I can set up systems fairly easily. Cuts in on the cash flow but I look at this as a stepping stone to my long term goals.

@Shaun Reilly and @Brett C. both make great points. I'm sure you'll find more as explore and participate on the forums.

@Christopher Gardino , absolutely a great way to start and learn. I don't think your age is anything but a benefit.

Welcome to BP, you'll find a lot of investors on here from MA and lots of great feedback.

Make sure you set up some keyword alerts, listen to the podcasts and get to some meetings. I see some other's have posted on your introduction thread too.