All Forum Posts by: Paul Sorgi

Welcome to BP @Christopher Reynolds. You are on the right path and the I would listen closely to what Ann Bellamy Brandon Turner and Mike LaCava have to offer!

Nice to meet you Sam. I am from the Boston area as well. Maybe we will cross paths at a REIA meeting or two.

Welcome Wilson to BP. I am from the Boston area as well. I second Bill's advice.

When you text him next month or sooner ask him if he would accept monthly payments with a downpayment for his home. I don't know what the market value is or what potential rents are in the area you are marketing to but paying his price might be feasible. You just have to know the numbers.

I don't have a problem with a 10% cash-on-cash return if your in a very strong market like Boston or New York. A question I have is what do you think the ARV will be. Since you are going in with Seller Financing are you thinking of refinancing later with a bank? Are you thinking about 'other" exit strategies besides holding the property?

Hi Rob,

I am from the Greater Boston Area and think your plan is a great way to get started. Like any city there are many different RE markets with in the Boston market. The closer to the city the more you are going to pay. I assume you are looking for a 3 or 4 Family. If you look just outside of the 128 Belt you will start to find homes with lower prices. First step would be to decide on 1 to 3 areas that you want to live in. Attend a local REIA meeting there are rehabbers and landlords who might have what your looking for.

Both and more if you can. I use a RE agent and he sends me MLS listings that are 20% below median price for specific zip codes I work in. I also keep an eye on price changes and new REO's to the market. I do mailings to absentee owners of just SF right now and I drive neighborhoods looking for Vacant homes that are not REO's. During the winter months I was finding quite a few and have some great propects in my funnel. I just had an offer accepted off an MLS prospect and I have a very strong candiate from my mailing of absentee owners. Network Network and Network some more. I just got a lead on a 5 unit from a Friend of Friend that has been recently vacated by the tenants becausese the executor of the estate does not want to be a land lord. Just keep moving forward and something will break for you!

Lynelle , Welcome to BP! I think if you were to negotiate a good deal on a multi you could find a partner vs. wholesaling. I always say a small piece of something is better than a large piece of nothing.

Thanks for the quick response

Wondering if anyone else is having this problem. When I click on properties I go to a blank page. I am on a Mac(Firefox and Chrome) and was able to view it on a PC (Explorer).