All Forum Posts by: Lien Vuong

It looks like an obvious saving in the front end of listing your own properties but unless you're seasoned agent who is well trained to analyze properties and valuate them, it might not be worth it for the handful (if those) that you will be transacting. I echo with my peers on this with the fact that you'll put yourself up for some liability of not complete disclosure, the start up cost and split cost of the listings, as well as time spent in running this deal - wouldn't your Highest and Best Use be out there finding the best deals and managing the project? 

Its really important for the long term goal of your business if you're looking to be in RE for the long haul to align yourself with an investor centric real estate agent who will make you more than the 5-6% listing fees for your properties. 

Good luck!

@Account Closed Have you looked at Lynn or Chelsea houses? I live and work in that local market and I see some under valued homes. There are a handful of properties that would qualify for what you're looking for that you could live in, gain appreciation, and still collect rents. Albeit, these are not 'turn key' properties but given the fact that you can add more to your asset column and minimize your expenses, this would be great way for you to enter the RE world and house hack! 

I trust you'll make your move soon, sounds like you're itching for it! Best of luck and please reach out if you have any questions. I'm happy to help!

Hello all,

As a professional real estate advisor who specializes in working with investors to identify appreciating/cash flowing MFs and flip projects for my clients, I want to add more to my value proposition to my clients. Aside from advising them on great deals on the market and undervalued properties that should be capitalized, sending and evaluating comps, and bringing them off market deals, what are other valuable skills and assets do you think that I could bring to deliver the best service to my clients? 

In other words, how can I better service my investor clients?

I am actively expanding my business and feel that this would be the right medium to ask for this advice. 

I cannot speak specifically about the IL market but most in the Boston market (my local market) and other fast growing areas, market absorption should be around 2-3 weeks or at least the first month of the listing even in slower markets. 

Seeing that the property has been on for six months without any offers tells me two telling facts - the property is not priced accurately and that it is also not marketed well enough to get the right buyers in (this includes door knocking neighbors, social media ads, and campaigns around the community). Any property with the right price strategy will be able to sell even in the dead of winter. 

I think you shlkld perhaps go over your selling strategy with the agent again and plan how you all can improve and market it better to capture the market. Perhaps it is staging, getting professional photography, doing a different open house time, etc. As it is you have already lost time by letting it sit for six months. People will start to wonder why it hasn’t sold or if there’s something “wrong” with the house. 

Hope this helps and best of luck! 

Hey Ryan! 

@Adam Sankowski

@Adam Sankowski is so on the money in terms of that advice and analysis of the market! As a local agent who specializes in multi family purchases, I have echoed many of the same principles to my clients. The truth is that Everett/Malden/Somerville/Medford area is all about the appreciation play and if you're able to target the right house and do a 203K on the property and fix it using contractors (you don't have to do the work yourself - that's not your Highest and Best Use!). Using that strategy, you can still BRRR houses and mitigate the rising cost of market. While you're using the 3.5% down payment plan - owner occupy, I don't think that you're really going to realistically live in it, you can buy at a discount. For example - I have an off market property right now in Everett - 3 family, 5 beds, asking for $475k, if you're able to do a renovation loan and BRRR it when you're finished, the house will cash flow all day and you will be able to refinance all of your money back. Align yourself with the right investor focus agent and team and you will be able to know all the off market deals and MLS properties that have been overlooked by the traditional retail agent.

Alternatively, if you're willing to expand your market to 20+ miles outside of Boston but still along the trains, there are many MFs that will meet your requirements such as Brockton and Tauton that is not incredibly far from Boston center but have a nicer price tag attached to them. @GualterAmarelo is a local agent in that South Coast market who is also an investor - he will be able to shine more light onto that area for you!

Hope this helped and good luck!

Even 20% in my experience is with a lender that you have existing relationship or if you have a solid investing background that would secure the loan. Ultimately they want to make sure you have enough skin the game to invest in the 6 unit. There's more than just 20% down for the money you need to invest also, closing costs, and definitely small repairs once you acquire the property. 

@Avery Heilbron, If youd like info, please message me privately and I'd be happy to share.

Hey there,

I think it's hard to pinpoint exactly what you're looking for in terms of a 'good deal' without having a comprehensive conversation about your goals. Are you in it for a longer term appreciation play while house hacking? If so, there are great deals in Boston if you find the added values that are not necessarily apparent to every agent. For example - There's a 7% cap property in Dorchester at the moment that not only cash flows but has 3+ units. Alternatively, if you're looking for an aggressive cash flow plan with a little distance then certainly expanding your search to 15-20+ miles outside Boston would be your target area. 

I understand being new to the state would be challenging for you but aligning yourself with the right local agent would help to ameliorate some of those concerns. Let me know what your RE and personal goals are and I'd be happy to elaborate more. 

Hope this helps and best of luck!

Have you considered going to the local REIAs and RE meet ups, most of them are free or very low cost and a nice way for you to get the feel of what people are doing around the market. As a local Boston RE agent, I frequent the Boston Investor Guilds in Somerville often as well as some Needham and Norwood ones. I think if you're unsure about what you're doing for RE investing, having open and frank conversations with people about wholesaleing or flipping would give you insight for your next move and make you well educated in markets that are 'hot'.

Good luck and hope this helps! 

Hi Alison,

I think this is a fairly common conundrum that you're in with anyone who owns property in a growing market and has a sizable equity stance. With that being said, I think it ultimately has to do with what your intentions are with your short and longterm goals for the property. Do you need the additional funds from the proceeds of the property to purchase your next home? What would you do with the funds with you were to cash out $200k on your home? Do you have the right network here to manage your property while you're remote? 

If it were me, someone who is motivated in a buy and hold strategy, I would decide to keep the property which has many benefits such as growing equity, monthly cash flow, HELOC opportunity, tax benefits as a real estate investor (expenses and depreciations on home), and some others. In my opinion, keeping the home and getting that HELOC out would allow you to have a future asset which an increasing rental market (more potential cash flow), give you funds to proceed on your next deal and invest, and the diversification in your portfolio to shield you from some market risks.

I think that it would be really important for you to consult with a RE professional to evaluate the true price of your property to make sure that your numbers are correct as well as partner with a rental and property manager to know that your asset is well protected. Please let me know if your need any council in this. 

Hope this helps you to weigh your options and best of luck!