All Forum Posts by: Nicholas D.

I had been using Cozy for two years prior to it migrating to apartments.com

I have been slowly experimenting with the platform and have some units that will become vacant within the next couple of months. My first impression is that I am not a big fan. I have been looking into avail as well as members have spoken very highly about this platform, but that I have noticed to waive ACH fees passed on to tenants and experience a premium package it costs 5$/unit/month. I will continue to look into this and in my opinion the fee is still very small in respects to what they offer and the smoother feel of their website experience etc. But again, this is just my personal opinion and still very limited.

Hello all,

I have a small portfolio of some multi-family properties in New Bedford, MA. I have accumulated some pretty good sub-contractors over the years (painters, plumbers, electricians, dry-wall), but have been struggling with GCs for permit pulling (when needed) or carpenters for small unit turnover projects, large building renovations, or even small isolated exterior fixes. It seems I either get small weekend warriors (which I almost prefer) but then never get a follow through or contracts fall through OR on the other hand I get recommendations for larger construction companies that charge a much much much higher premium and only wish to use their sub-contractors etc. I am looking for recommendations of any carpenters that some owners have used and have had good experiences with. I am currently in the acquisition phase as well so am looking to to build a revolving relationship with these contractors for future projects as well as some small projects needed in the next few months.

All recommendations and feedback is appreciated.

Thank you!

Hey guys,

In the same boat. Just seeing if there was any progress made or any templates found etc. As it would make the process a little easier instead of starting from scratch.

Thank you!

Hey guys, 

In the same boat. Just seeing if there was any progress made or any templates found etc. As it would make the process a little easier instead of starting from scratch.

Thank you!

@Wayne Brooks

Thank you for the insight. I didn’t know if something with the assignment got recorded. Appreciate the help!

Hello all,

Random questions. If I research an investment company, or even an individual. If they perform a transaction involving a wholesale where they are the one who "got the property under contract" then reassigned the sale to another purchaser, is there anything that I will see resulting in the wholesaler's name in the registry of deeds? For instance if John Smith had a direct mailing campaign and put a property under contract from Jane, then assigned the contract to an investor Tom. If I searched John smith's name in the registry of deeds, would I see any type of entrance or proof of this wholesale that ties his name in the recordings?

Thank you in advance.

Nicholas

@Carolyn Fuller I believe the language is important here. (FULL DISCLOSURE. I AM NOT AN ATTORNEY OR GIVING LEGAL ADVICE). But from my conversations with attorneys when it comes to this area the way around this is that you post that you "require a background and credit report" to be eligible to rent a unit. The fact that they can use Cozy's background/credit report is just an option. They receive a copy of both, because they are the one's who paid for it, so in theory it is theirs you are just viewing it. In theory if they wish to provide you with an up-to-date credit and background report from their own platform or search company than that will suffice, they can pay whatever fee and utilize that other company and provide that report to you for consideration. You are NOT charging them a fee for a report, you ARE requiring a report. How the obtain one, or the cost associated with is entirely up to them. It is entirely different from what someone would consider an "application fee", which is a fee that you would collect just for them to be able to submit one.

Hello @Yuriy Panchelyuga

I am currently undergoing a BRRRR in Southeast Massachusetts at this time. What exactly are you looking for? Are you attempting to whole-sale? or BRRRR yourself?

@Nicholas Sawyer I would agree that looking into the New Bedford/ Fall River area is wise when comparing to the other direct towns and cities within the vicinity of your residential area. I think it's wise and an easier transition (my opinion) to jump into investing when you have an understanding of the area better by living close by. It also proves beneficial if you anticipate on managing your own properties etc. I would definitely make sure you find a real estate agent that is "aligned" as you are. They understand your goals, your capabilities, and your criteria. The rental market is different in our surrounding areas as we definitely have some "lower income" C/D neighborhoods that may be quite more on hands managing opposed to other more turn-key investments, but again it depends on what your goals are. Some people do very well with those investment types and can cashflow quite a bit, others would rather play a more passive role and seek a more passive investment that requires less hands on and will accept a lower cashflow for the sake. I will say that our housing stock is unique in the fact that the majority of our properties are close to or older than 100 years in age. This leads to evaluations of the property not so much on the cosmetic aspects, but more so on the function and mechanics, I.E. Knob and tube wiring, cast iron drain stacks, space heaters etc. 

Hello @Nicholas Sawyer Welcome to BP! 

Where are you located in SE Mass? I live and invest in New Bedford myself. There is plenty of knowledge here on the forums, as well as plenty of opportunities to network. No one here considers you "lazy", the fact that you want to build wealth via passive income from real estate allowing you to experience more freedom for your "rat race", is instead a wise decision.