All Forum Posts by: Ricky Beliveau

@Ryan Drowne welcome to BP! I am a huge fan of this strategy. I acquired my first two multi family's using this process here in Boston. Best of luck and happy to connect 

I have a large amount of equity in two of my multi family properties in Boston. They are both locked in at very low interest rates on 30 year fixed. I am wondering what options exist for lines of credit off of these properties to be used as liquidity in my flipping/condo conversion business. I know HELOC is only for primary residence so looking for options/lenders that will do similar for rental properties up to say 70-75% LTV.

Thanks!

Quick reminder this is a condo conversion project in East Boston on Meridian St. Framing has been completed. These are images from the penthouse apt which will be a 3 bed 2 bath 1500 sqft condo (Est) with entrance on the 2nd floor as well as the staircase continuing up to a private roof deck. We are now a few days into hard electrical as well as the new rubber roof being installed. I have started the design process for the bathrooms as well as the kitchens as it is approaching time to being the ordering those items. I will be going medium/high end for the finishes as the market goings to rise for condos in Eastie.

@Kenneth Silva obviously it's stronger to offer straight 425-430 but lately I have been using the escalation clause with success

@Christian Allen welcome to BP! I own a large portfolio of real estate in Boston and I have just purchased my first two buildings on Federal Hill. I have also found from my analysis that this market will deliver a strong cash flow. Let me know if their is anything I can do to help or if you have any questions.

@Maxwell Lewis happy to give you a tour of the projects. I actually am looking to learn more about Chelsea so would be great to discuss that with you as well as. Shoot me a message to schedule something.

@Garrett Hogan no this is on Meridian St. I did just finish another project on Chelsea St though. Happy to connect!  

@Andres Branger best of luck with everything! Note that stairs to roof decks must be full staircases to code and can no longer just be small spiral staircases like people used to get away with. Just something to be careful of.

Ricky 

@Gary Singh happy to make some introductions to providence based lenders that can help you out. Shoot me a message.

Ricky 

East Boston renovation continues with framing underway. We are installing many large beams throughout the property to create open concept living. We are in the final stages of framing the units. Next steps will be building the stairs to the roof deck, new roof, leveling floors and building of the two roof decks. Plumbers and Electricians will be on deck once framers are done.