All Forum Posts by: Maxwell Kaplan

@Kevin Kelly thank you for sharing your story! Helpful to hear your experience in the boston.

@Michael Stutelberg what did you put down for your selling expenses % ??

@Lien Vuong thank you for the insight :)

@Cameron Tope Thank you for sharing your experience. goal is cash flow. secondary goal is appreciation with hopes to leverage for the next property. As you mentioned no thanks to negative cash flow :)

@Jaysen Medhurst great points. curious to hear what banks are offering loans for 3 families at 90% ltv. None of the banks I have spoken to have offered such programs. seemed like the only option was FHA(which is an expensive way of borrowing)

I've heard and read multiple sources talking about refinancing loans when their equity goes up and pulling out cash. In Massachusetts, this seems relevant with properties growing in value at 3-5% year over year. When people are refinancing their loans are you pulling out the equity(in cash) on the accumulated equity that is over 20% so that you eliminate PMI as well as get cash out? What's the best way to go about this?

For my particular situation, I am purchasing my first 3-family with FHA loan or Mass Housing loan. My thought is go in low money down because appreciation is happening so quickly I could refi out of the PMI. Although putting down 10% does seem to make the cash flow more attractive

@Avery Heilbron I'm getting similar info. fha loans that have below 10% down carry pmi for the life of the loan, even if you reach the 20% mark. you have to put down 10% minimum to get rid of pmi at 20%. 

@Avery Heilbron the phone never lies...lol. thanks for the insight :)

@Lien Vuong @Marylin OShea @Lior Rozhansky thank you for the Quick replies and insight on how the industry works! This was more helpful than you realize.

I'm a new investor and looking to learn what are the best practices when it comes to working with real estate agents and what to expect of them? Is it acceptable to work with more than one agent if you have them covering different areas in (i.e. agent for boston area, agent for north shore, and an agent for south shore)? My thought was that agents in different geographies know their market best and might have knowledge of off-market listings, which I don't want to miss out on. Given how challenging the market is in the greater boston area I am including a lot of towns as I'm looking for the property that has the best chance to cash flow. The other conundrum I face is I know quite a few agents, both friends and family. What's the best way to go about picking and working with an agent? (thank you in advance for the help)