All Forum Posts by: Charlie MacPherson

I think Laurie Johnson has it right.  

Your first priority should be to learn the ropes.  Learn the legalities, the forms, the procedures.

Then you're ready for the next phase, where you can look for a better deal with more freedom.  Or, you might decide to stay where you are.

I recommend Henry Rappa, Jr.  We use him for all of our closings. 

I realize this is asking a lot, but I'm looking for a Title V contractor that will agree to get paid at closing.

Any connections or other ideas would be GREATLY appreciated!

I'm a rabid fan of BP, so I have a pretty good idea of what investors need in a property.

If you're looking for connections south of Boston, feel free to reach out.

I cover Plymouth, Bristol and Norfolk counties on a regular basis.  I'll also cover Barnstable county for the right deals.

I was awarded "Top Listing Agent for 2014" as well as "Top Selling Agent", so you can have confidence that I'll put the hard work in to get your project sold - FAST.

SPECIAL OFFER - If you buy your rehab through me I'll discount the selling commission by 2% when it's done.

I'm looking forward to making new connections and helping you to do more deals!

If you're working with an agent that doesn't require some sort of Buyer's Broker agreement, you're probably working with a part-timer or someone who doesn't value their time.

My Investor / Flipper agreement only applies to properties I introduce, but also commits the flipper to remarket the property through me when the project is complete.

My time is too valuable to waste with people who have zero commitment.

As to dealing with the listing broker, it is CRITICAL to remember that a seller's agent is legally and ethically required to get the best possible deal for the seller.  

In other words, they are required to work against you when it comes to price and terms.

Yes, there are no doubt unethical agents who will screw the seller by accepting a lower offer so they get paid on both sides, but most of us (and I think it's the overwhelming majority of us) aren't about to risk fines, lawsuits or loss of license for an extra commission.

The photo of the sign might be useful, but what you're arguing over is a difference os $1300.  

Is that worth going to small claims court?  Only you can answer that.  What is your time worth?

You also have the responsibility to understand the contents of any contract you sign.

A side note - what somebody else made on the deal doesn't matter.

It's also worth noting that long term rentals are so scarce here that they command a pretty good price.  Often as much or more than a mortgage payment in a nearby town.

Consider concentrating on 3+/1.5+ in towns with good schools.  Homes with 3BR or more are great targets for families with kids.  Those families tend to want to rent in towns with low crime and very good schools.

On the south shore - Scituate, Cohasset, Hingham and Duxbury are good targets.  All will command premium rents.

www.GreatSchools.org should be helpful in evaluating schools.

For our RETAIL clients, we do not show properties without a signed Buyer's Broker agreement that essentially says that if they buy a property (on or off MLS), they buy through us. We also have a minimum commission. We also require pre-approval before investing resources for them.

For my investor / flipper clients, I have a different agreement that limits their obligation only to those properties I introduce them to.  The agreement also states that if they resell the property within X months, they will list it through me at a Y% commission.  

I don't think most investors would consider exclusivity until there's a long established relationship.  

@Jon B  I'm a couple of weeks away from launching my own brokerage on the South Shore.  We may be able to work something out.

As you can tell from my presence on BP, I'm investor-friendly.

Please contact me and we can talk.  My direct cell is 781-470-9111.

For what it's worth, here in Scituate SF rentals are scarce as hen's teeth. I just checked MLS and there are 19 total, 3 of which appear to be long term.

The rest are either weekly / summer or winter only.  

That's a strategy you might consider.  Weekly summer rentals here frequently fetch between $2000 and $3500, depending on proximity to the water.  

It's a lot more work keeping them rented, cleaned and turned over for the next tenant, but the income may justify it.