All Forum Posts by: Mike Yerardi

Hi, I'm a Broker in MA with just one agent in the company (my admin). Mainly the Brokerage is for me just to sell the properties that we fix and flip and save the commission. We do about 20-25/yr so financially it makes sense. Right now, I do have the "REALTOR" status but wondering if it make sense to keep paying the $800/yr to keep the status? I'm not a typical Realtor perse looking for clients so I don't need the trust factor that may go with the REALTOR symbol in my marketing or anything. I understand there are some protections that go along with it with all the law suits going around but hardly doubt they would go after an office with two agents in it. Any thoughts?  Thank you!

I have a property with an inlaw that has been there since the home was built in the 70's. Old green oven and cooktop. When the the house was built the inlaw was not on the permit. It has a slider out to a deck but the front entrance is through the main house kitchen and not right to the outside.  We didn't think about this because everything looks original to when the home was built. We have the house sold to a conventional buyer and have not had the appraisal yet. Wondering if I should be worried about the appraisal or does removing the stove help? 

Thanks Mark, the treatment is being required by the Buyer's lender in order to close the loan. I thought it would be a couple hundred dollar treatment so figured i'd just cover it to get it to go through. Cheapest i've gotten so far is $700. I didn't tell them I would cover it, just said i'd look into it so i'll have to go back to them and try and work something out.

Hi, i'm selling a house in Massachusetts. The VA inspector noted a small amount of inactive signs of termites so they asked for a treatment. Who is responsible for paying for the treatment? Thank you.

Hi Jim, 

Living in my first multi investment property was the best decision I ever made. It allowed me to save ALL of my income from my W-2 and reinvest very quickly. You have the right idea to start. It also takes away the stress of the mortgage payment because you're tenant will pay it if you buy right! Good luck!

Hello, 

Me again. I also have this scenario of...

"Portfolio sold at 15x Funds from operations" - Does anyone know what type of information I may need to figure this out. Thanks again for any help you could provide.

- Mike

Hello, 

I'm trying to figure out How to figure out what quarterly distributions would be for a REIT. I'm new to this so working on a model. How would I calculate this figure/what info do I need for this? Thanks in advance for any help you could offer.

Mike

Thanks everyone. Unfortunately i just found out about this about a week ago but hopefully can grab it at auction now.

Hi Everyone,

I'm trying to buy a property before it hits Hubzu. It's next door to one I currently own so would be ideal. Found the bank that owns it but having a hard time breaking through. Everyone I talk to says I have to wait till it goes on Hubzu and then I can bid on it. Obviously I would like to try and lock it up before it even goes to Hubzu. The property is abandoned by the current tenants but the bank hasn't verified that so it's still technically in the eviction stage on their records.

Any ideas on how to grab this before it goes to auction?

So I'm selling a two family with an additional store front (empty right now, used it for storage) so three units in total. It's far from where I want to be so selling and buying another closer to home. I didn't have any issues financing when I bought it in '09 but we know it was a different world back then. My concern is, how is someone supposed to finance this without getting a commercial loan? It's considered mix use on the tax record but is there any other way someone might be able to finance this? Just trying to get my ducks in a row before we hit this hurdle. Thanks.