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All Forum Posts by: Robyn Coady

Robyn Coady has started 10 posts and replied 22 times.

Hello, 

I'm starting out on my investor career and I'm looking for a recommendations for a title/escrow company in MA. The few realtors I've spoken to have told me they don't use an escrow company specifically. They use closing attorneys instead. Is this typical MA procedure? Any advice on how to navigate this part of the process? Thanks!

Post: What should i do?

Robyn CoadyPosted
  • Florence, MA
  • Posts 22
  • Votes 1

Morning Jose, 

I admire your courage to put yourself out there! I was speaking with an accomplished investor the other day and he spoke about how investing in real-estate is democratic.  He said, " It doesn't matter if you're black, white, man, woman, immigrant or native, all you need to invest in real-estate is DESIRE!" It seems you certainly have desire. 

I wonder if you know of any other Spanish speaking investors in your area you can talk with to get advice? I would try and work on both your English and investing simultaneously. Learn the words you'll need to know to close a deal. 

That said, your writing is comprehensible which makes me think your speaking English is pretty good. Start now. Do what excites you. That'll fuel your motivation to learn the language. Find a support network to help you learn about the process. 

Good luck!!! See you around the forums I hope!

Post: Access to the MLS in MA

Robyn CoadyPosted
  • Florence, MA
  • Posts 22
  • Votes 1

I have no idea the name of the MLS network out here. How might I get that information? If I want to "park" my license with a broker what can I expect they'll want in return?

Post: Access to the MLS in MA

Robyn CoadyPosted
  • Florence, MA
  • Posts 22
  • Votes 1

Thanks Sean. I'm currently signed up with a realtor but it doesn't help me get access to the properties I want to see without using the realtor. 

Post: Access to the MLS in MA

Robyn CoadyPosted
  • Florence, MA
  • Posts 22
  • Votes 1

I've been reading J Scotts "Flipping Houses" It's fantastic! Early on he highly recommends getting a real-estate license primarily for access to the MLS. Well, I have my license and I still don't have access. I called MLS this morning and they informed me I need to be employed with a brokerage firm or have my appraisers license. In J Scott's book he mentioned paying a "broker fee" for access to the MLS. Does anyone know anything about this? Thanks!

Thanks Ann! 

Oh yeah, when you break it down like that. It looks awful!!! 

Is T/I; Total down over monthly income?  

Thanks Joe! 

Nice Joe! That's really helpful. But wait...isn't it advisable to look for 100% CCR? Didn't I read that in an early post?

Okay here's one for you. I'm looking at a SF in a stable neighborhood - lets cal it class A. Its going at auction. I spoke with a realtor yesterday. She said I could get $199,900 after its rehabed. 

It's a $980 sq ft. 2 bdr 1 bath gut job. I thought I could refinish the basement and add a bathroom ( the plumbing is there ). 

According to my calculations I shouldn't spend more than $89,900 on the place if I'm calculating $50,000 for the rehab job. I could also rent for $1200 I'm told. 

Do I pull the trigger at $89,900? 

Thanks Harold. I'm keen on mobile homes as well. Now, are you renting them? Are you investing in parks? Or single standing? 

Thanks everyone for your thoughtful and helpful responses!