All Forum Posts by: Ryan M.

I know I am late to the party on this reply. But why not just put your personal home in an LLC so it can't be touched and then get the umbrella policy for 5 million on the other properties for like $1000 bucks a year.

Originally posted by @Anthony Dooley:

@Ryan M.  you haven't talked to enough banks. I get emails daily soliciting me to borrow equity from my properties. There is more money than property out there right now. 

 Good to know.  I shall keep calling.

@Ashish Acharya Not only risk tolerance but how much it costs. Some states it's $50 bucks to start an llc, which then would make sense to have one or two properties per llc. While in Mass it is $500, which is insane, and forces you to have multiple properties in one llc so the cost is spread over more properties.

I look forward to meeting everyone!  

Originally posted by @Anthony Dooley:

@Tony Marcelle start with your local community banks. Then move to regional banks. Just walk in and tell them what you want to do. Offer to open a new account once the process starts.

I am currently looking to get a HELOC on an investment property that is 100% paid off. The two banks I have done business with in the past (both local, one a CU) won't touch HELOCs on investment properties considered too risky.

While I agree with Tony's advice on starting with community banks, I wouldn't waste my time pounding the pavement. Call and see if the bank will even consider a HELOC on IP.

I would pound the phone call a bunch and once you find a few open to working with you under those terms, then meet face to face and develop the relationship.

@Ryan Hebert Lawrence is a 100% no for me.  I think Lowell seems more developed and ready for investment than Lawrence.  I think you just need to drive through and talk to police/firemen and see what neighborhoods are A,B,C or Ds

@Michael Pallotta ya I definitely will.  We didn't have a huge turnout, I think the Sox & Bruins & Pats game really killed motivation for people wanting to network.  The previous networking we did 8-12 people showed up over the course of the night.  So it does work, I just didn't even think about the games before I picked the time and date.

Just bumping this.  I hope we have a bigger turnout than just me!!!

Please RSVP if you are planning on going tonight. :)

Come meet other like-minded individuals who are interested in real estate investing. Whether new or experienced, we all can provide information and tips on how to achieve the goals we have set for ourselves.

This is for newbies to the advanced, come ready to mingle and be prepared to be asked who you are looking to meet and the properties you are interested in buying, because if you don't know that, then we can't help!

See you all there!

Turnout was a solid 9-10 people over the course of the night.  

The more people that show the more people will get out of it, so for those who missed the meeting, are apprehensive or on the fence please come.  There are no sales pitches or pressure for anything, it just people interested in real estate meeting up and trying to learn from one another!