All Forum Posts by: Mason Hickman

Join us on January 18, 2023 for the Cape Cod and South Shore Real Estate Investors Meetup, where you'll have the opportunity to connect with fellow investors, learn from real estate experts, and discover new investment opportunities in the area. Don't miss out on this chance!

Light food will be provided and drinks are available for purchase.

Feel free to leave early or stay late.

@Mike Schorah

I tend to update any time there is any new information or weekly if there aren't any updates just to keep in touch. Sometimes it is daily during the initial contract and inspection period but will be much less once P&S is signed and waiting on the bank.

@Anand Acharya

It sounds like the seller will take care of it but wants to make sure you are going to move forward? Escrowing funds is another way to go about it that will likely satisfy the lender.

@Parker Hardy

Xpressdocs for the mailing portion. You can upload a list or use their system to generate a radius/street list.

@Pamela Mason

In Massachusetts, landlords cannot discriminate based on source of income, which includes section 8. However, you can have other tenant guidelines. Is this law similar or does it set some higher standard for denial of a tenant that uses section 8.

@Rachel Perl

If it is marketed well and priced right, it should sell. I am assuming you don’t have any weird contingencies and your renovation was Up to standards in the area?

@Sarah Santa Cruz

Yes, bonus room, den, office could all work. I agree with @Theresa Harris to see if you can improve the layout/functionality.

@Jonathan D Clark Sr

Look into the hospitality fee. 

https://www.horrycountysc.gov/departments/treasurer/hospitality-fee/#:~:text=Businesses%20located%20inside%20city%20limits,of%20private%20passenger%20motor%20vehicles.

@Sarah Santa Cruz

The "bedroom" that is only accessed through another bedroom is not considered a bedroom because it needs access from a common area of the house. It wouldn't be a total dealbreaker but I wouldn't assume you will get market rent for a standard 3 bedroom. Discount your rent in your proforma. Weird layouts deter the best renters.

@Michael Owens

It is fairly common knowledge but I will state the obvious that when you leave your W-2 job, you will be fairly un-lendable for traditional primary home loans for the first bit of time. You can still qualify for non-QM products but it is something to factor in to your timeline and plan.