All Forum Posts by: RJ Reynolds

Here in MA the key to the tenant friendly laws, courts, enforcement is to really look at prospective tenants closely AND have a knowledgeable attorney ready to help you out as needed. Do not allow deadlines to float... the minute someone is late, start with the legal requirements even if you like them and believe it's a temporary issue.  Let them know this is a business and as much as you might like them, you can not give them any leeway unless something is fully negotiated.. don't be a hard a** but be very clear in all communications be it verbal, text, email, whatsapp, telegram whatever.  Stay consistent in your messaging and TAKE CARE of those little things that tenants get annoyed by. 

So PICK the right tenant.

TREAT those tenants & the property RIGHT.

Consistently enforce ALL elements of the agreement which is of course in writing.

Have an attorney to consult with.

AS to is it the right time?  If the numbers work, they work. Doesn't matter if the cost is in interest rates, purchase price, maintenance or whatever.  You can't predict what will happen with interest rates so take care when considering your financing options that could result in higher costs down the road.

Yes, I believe NOW is a good time. Then again, I think that most of the time.  ONLY if the numbers work.

@Bjorn Ahlblad yeah because there is no good reason to help people avoid homelessness during a pandemic. that’s just silly.

@Lamonte Menifield

suggest a review if Brad Millers post/thread about best online real estate training

i’m biased toward keller williams as an agency so i’ll also suggest you get in touch with the local KW office for business’s training and recommendations in your area.

good luck!

@Mark Miles

State by state laws apply but let’s assume you have a contract with an agent to represent you..

immediately call the agents office and request a meeting with the Broker who controls the office which your agent is affiliated with i. order to discuss this concern. time is of the essence.

and, walk away from this deal until you and the agent have parted ways or established a better working relationship. this one isn’t for you

@Dennis M.

bitter much?

@Carl Ohai

set a budget. base your activities on your income and what is effective in your area.

typically

door knock, leave a card or flyer and NOT in the mailbox

send follow up hand written note introduction

market report for the neighborhood

just sold!!! (when you close a deal especially if it’s in that neighborhood)

freebie... flyer offering something .. just visit www. and get a free buyers guide sellers guide whatever but generally i’ve found this does t work well. they have to give you their email address to get the freebie book (electronic no publishing costs.

seasonal announcements

My Point of View, I'm an agent so yes, biased on that front. 

Love Derrick E's take on his approach directly working with 'listing' agents and not needing anyone to negotiate or translate (or get in the middle) for him.  Unfortunately, not everyone is sufficiently skilled but I expect MANY investors are (not all).  As for the 'agents are always late', I'm not ALWAYS late but own up to the occasional delay so I'm not certain why agents have that really REALLY BAD habit.  Many do <sigh>.

Then I read Dennis M's snarky comment.  Sure, the average agent is working with people who buy one house every 6.7 years or whatever the current stat is and don't require the agent to work hard at calculations or research that an INVESTOR's Agent has to be expert at.  So sorry you wasted your time working with the wrong agents.  That doesn't make them lazy, incompetent or slow,  they are not the right fit for you, not experienced at what you need. 

I was researching another property and happened to see that Bids are being accepted in Attleboro, MA for 'disposal' of two properties. A quick look at google maps shows me that one property is the old High School.  Now I KNOW this is not something I'm interested in just now but I immediately thought about my fellows here at Bigger Pockets who might find this an interesting challenge.

So here are the details!

http://cityofattleboro.us/bids...

@Ashley Gish Invest do not pay the loans off. (yet) They are decent interest rates and typically favorable clauses. Invest and cover the interest and more.

There is a big political push to forgive student loans so keeping them may just pay off in other ways as well.

You definitely have skills that another interested investor could find appealing and therefore partnering up is a possibility to look into.  

That said, ultimately you CAN do this on your own.  

If you'd rather play it a bit safer and work with another Investor/Mentor for a while, that is an excellent way to learn however, finding the right mentor?  I'm not experienced enough to know how to accomplish that and would tread carefully.  Find the investors whose work you admire in your area and sharpen your skills on calculating deals. Make sure to approach a potential mentor or partner with the value you bring to the relationship.