All Forum Posts by: Max K.

@Lien Vuong @Dave Foster Thank you for your insight - your thoughts are much appreciated. Sounds like I have some research to do...

A friend of mine is purchasing a single family property in a desirable suburb of Boston, MA with considerable room for equity growth. He's only putting 5% down and will be paying PMI as a result.

On the other hand, I'm in the process of selling a flip and should have my profits distributed before my friend closes on his home.

My thought is that I may be able to use a 1031 Exchange to put the money towards his purchase as an LP and help him get to 20% so that he can avoid PMI.

There's also a considerable amount of rehab to be done, so he may be interested in having someone else with "skin in the game" who is incentivized to help with the renovations. 

Thoughts? Does anyone have experience working in such a partnership? What kinds of pros and cons may exists? What might I be missing?

It sounds like a win-win to me.... Interested to hear what people have to say. 

My partner and I recently put a cash offer on a fix & flip property that we plan to finance with hard money. The offer was submitted and accepted without any contingencies. We already have a letter stating pre-approval from the lender for 90% of the purchase price plus rehab costs, however, there is always a chance (although slight) that the lender falls through. We are going to execute P&S later this week but have some hesitations in doing so without any contingency subject to financing. Our thought is that we may add this to protect our 10% deposit should we not be approved. My understanding is that this is highly unusual to change the terms of an offer as you move to P&S, but it's something that was overlooked when we submitted our offer, and we're not sure that it's a chance that we want to take. So we can protect our deposit, but this could spook the seller and cause them to walk away. Thoughts? Any additional pros and cons of doing so? What am I missing? Thank you!

Hi @Sam Abazari, glad to connect! Thank you for your response. 

@Mark Mahoney Thanks for the response! I'll PM you. 

Hello! 

I'm considering condo conversions in the suburban Boston area as a potential investment strategy. 

Does anyone have experience doing so in this particular market?

What kind of challenges have you faced? What kind of success have you had?

I am hopeful to speak in further detail and discuss the validity of this approach.

Thank you!

I'm looking to get involved in the REI community in the Boston area, and it has come to my attention that there are two popular REI associations; one of which is part of the National REIA, and the other of which is not. There also seems to be a lot of bad blood between them.

https://www.bostonrealestateinvestorsassociation.com/about-us/dont-be-fooled-by-other-groups-calling-themselves-boston-reia/

https://bostonareia.com/which-boston-real-estate-investors-association-should-you-join/

I'm hoping local investors can comment on their experiences with one or both, what led them in which direction, etc. 

Let me know what you think please. I want to make the right choice!

Thank you everybody for the words. Dan, sound advice, and a lot to consider - thanks again!

Excuse me... I meant below market value.

I'm a young professional in my mid twenties living in a desirable suburb of Boston. I have yet to invest but I am certainly interested and have been putting in the time to study buy and hold rental property investing recently.

The home I live in is owned by my grandmother, who will be deciding what to do with the property within the next couple of years. It's close to the city with commuter rail access 0.5 miles from my house and a great school system, making it one of the most sought after towns in the area (neighboring properties have sold for much higher than their asking price in recent years and we are constantly receiving mail from investors interested in buying the property).

The property is in need of extensive renovations, a majority of which seem to be cosmetic (kitchen, bathrooms, flooring, etc.), meaning that there is significant potential in building equity by buying the home and doing these renovations and attaining a high ARV.

I will most likely have the opportunity to purchase the place in a direct below market value. I'm in a predicament and I'm not sure how I should move forward when the opportunity to buy the place presents itself. Although it will probably be out of my budget range as a beginner investor, I'll do what needs to be done to come up with the funds as I am confident that after it is renovated I will have built a considerable amount of equity in it. The question is what I would do with it after that. 

I am uncertain as to whether or not I plan to live in this area for an extended period of time, meaning that I would rent it to produce monthly cash flow. I would classify the neighborhood as upper-middle class, and it doesn't appear like there are a lot of renters in the immediate area, so I am unsure if there really is a market for it (although, again, it's a very desirable location). Does anybody have any recommendations as to how I can research the "rentability" of the property? 

I could possibly consider a flip after equity is built from forced appreciation, but as with renting, there comes an ethical issue; my grandparents have lived here nearly 50 years, and I'm not sure that my family members would be too thrilled if I were in it to make a quick buck. One family member, who lives in SoCal, recently expressed to me his interest in doing "whatever it takes" to keep the home in the family.

Hoping that some experienced investors can provide a few words of advice as to how I may plan to move forward. Feel free to ask questions, I can certainly provide some more detail if necessary. Thank you!