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All Forum Posts by: Matthew Ortins

Matthew Ortins has started 1 posts and replied 24 times.

Post: First time investor in 3 family.suggestion for right insurance??

Matthew OrtinsPosted
  • Real Estate Investor
  • Haverhill, MA
  • Posts 27
  • Votes 10
Sounds good Tim, Dan I want to meet up as well I am sorry we never did last time. I have been so busy with my start up. I started a company called Overwatch Property Solutions and we utilize cutting edge drones to create aerial Videography for residential and commercial real estate. Check us out on Facebook! Let's all meet up soon and grab a coffee and talk about what's been working for each of us and how we can improve! Your insurance policy will depend on whether you will live in the house or not. That's the first thing you need to figure out when choosing the right policy Tim. We will talk soon! Have a good weekend guys! -Matt

Post: First time investor in 3 family.suggestion for right insurance??

Matthew OrtinsPosted
  • Real Estate Investor
  • Haverhill, MA
  • Posts 27
  • Votes 10
I have to work tomorrow, i am off Sunday tho, maybe morning coffee...battlegrounds coffee shop on Washington.

Post: First time investor in 3 family.suggestion for right insurance??

Matthew OrtinsPosted
  • Real Estate Investor
  • Haverhill, MA
  • Posts 27
  • Votes 10
What 3 family did you get Tim? I am an investor in Haverhill Ma. I am willing to meet up if you want some tips.

Post: How do I start with no money down?

Matthew OrtinsPosted
  • Real Estate Investor
  • Haverhill, MA
  • Posts 27
  • Votes 10
Start with reading everything you can from bigger pockets to prepare yourself for success. Get the best W-2 job you can for now so you can get a loan. Think about maybe getting your license to be an agent and start getting into the game that way. You can learn, network and earn money all At the same time.

Post: How Much Cashflow To Expect? FHA, Hacked MFH. Riverside County CA

Matthew OrtinsPosted
  • Real Estate Investor
  • Haverhill, MA
  • Posts 27
  • Votes 10
1. Find a real estate team that specializes in investment properties. Most realtors are just trying to get you in your "dream" house and could care less about the numbers. 2. Start creating your team. Real estate agent, lawyer, accountant and insurance agent. 3. Have your real estate team put you on a MLS email delivered search that takes your scope of interest and notifies you of everything that comes on the market. 4. Start looking at every multi you can, learn your market so you understand the baseline and you know a deal when you see one. 5. Evaluate each property as if every unit is going to be rented, and then understand that your cash flow will take a hit if you use it as your primary residence but that's ok and you will know that once you move out you will have a positive cash flow property. 6. Start making offers at values that make sense for you. You make your money on the way in, so don't overpay for a house or you will most likely never see cash flow. Find a distressed buyer that will bite at a low offer and try to get a deal. 7. Use bigger pockets calculators and rules on analyzing these properties and aim for 100-200 per door. 1000 dollars of true cash flow per month is unrealistic on a house hacked 4 family, at least in my market. 8. Good luck now get to work.

Post: Best system to collect rent, pay bills and manage property

Matthew OrtinsPosted
  • Real Estate Investor
  • Haverhill, MA
  • Posts 27
  • Votes 10
Check out Buildium and also Rentpayment, these are two great options and fit your needs.

Post: New Member Looking for Accountant in Boston Area

Matthew OrtinsPosted
  • Real Estate Investor
  • Haverhill, MA
  • Posts 27
  • Votes 10
Are you north or south of Boston? Where exactly did up buy. I'm north of Boston and have an awesome account I could refer you to. Let me know!

Post: Offering Today with 203K Loan

Matthew OrtinsPosted
  • Real Estate Investor
  • Haverhill, MA
  • Posts 27
  • Votes 10

Hey Dave,

Did you go for it? The house looks solid for 170K, however I am assuming you identified everything that needed to be fixed and the electric was the biggest item? It is a decent area of haverhill, however definitely not the best. Let me know how it went I am curious! Also I am assuming your intention is to flip it? 

Matt

Post: Home Stager Westborough, MA - Looking to make new connections

Matthew OrtinsPosted
  • Real Estate Investor
  • Haverhill, MA
  • Posts 27
  • Votes 10
Stefanie where will the meeting be in Haverhill!?

Post: House Hacking in Boston

Matthew OrtinsPosted
  • Real Estate Investor
  • Haverhill, MA
  • Posts 27
  • Votes 10
You have to know your interest rate in order to really be able to know your total mortgage payment. You can look up the assessment and taxes for each property you look at. House Hacking is a great idea and I do it on the North Shore in MA. I would suggest you look outside of the city and try to get a duplex for around 300k. With this 300k duplex your mortgage will be about 1600-1700 and you can rent half of it for about 1400-1500. The tenant will cover 90%. You may kick in a few hundred a month while learning to manage property, build equity and benefits from appreciation and depreciation. Lots of benefits but I do think buying one for 600k is crazy. A 600k purchase should be 5-8 units. Let me know if you have any questions and good luck!