All Forum Posts by: Sam Horton

@Alyssa Robbins I agree with @Caleb Heimsoth this to me would seem like a looking battle versus the seller. In the future, best to ask for a credit. If the seller is unwilling to provide the credit then request the repair with documented receipts of work done by a licensed contractor. That should be written into the purchase contract. That way after closing you might be able to go after the contractor instead of the seller. Typically most offer a 30-day warranty on their labor.

@Account Closed Depends on your goals. Have you always wanted to go to college and have that degree? If not, I think there's a lot of ways to become knowledgeable in marketing/finance if you are willing to do the work. 

@Account Closed Do you have any information on who bought the abandoned property? I would do more research on that especially if renting the unit is not an option. 

@Jennifer Presley-Sanders 

If you're using an agent to purchase the property, you should be having them create a comparative market analysis for you to determine a better idea of value. If your not, for a small fee I bet you could get an agent to send you one.

As @Account Closed mentioned tax assessments are not necessarily a good indication of value. I do sometimes cross analyze assessment data versus recent sales though. For example if it's a 3 bedroom house, pull all 3 beds in that town within 6 months and a certain radius (based on population density). Then track whether these properties are selling above, at or below their assessed value. At least this can give you an idea on what's reasonable to pay over assessed value. 

@Parag D. I would say 1 month for 1 year lease is common in the suburbs in my area. The trend of tenants paying fee is "relatively" new to my market (within the last few years, I've seen more and more of it.)  

@Parag D. Depends on your market. In Mass, Boston is usually full months rent paid by the incoming tenant so landlord isn't paying a fee at all. As you get further away from the city the "normal" fees change. You could always reach out to a few rental agents in your area and see what they are saying regarding fees. Then choose the one you like best. 

@Parag D. if all else fails, I would look for the agent that does the most rentals in your market and hire them to rent it out. A good one could already have tenants for your property. 

@Daniel Suarez is it a condo or sfh? If a condo, read up on the master deed / rules regs and report to HOA. If single family, I'd have the tenants call the police and complain. Either way probably going to be a fun one to deal with

@Grace Na Massachusetts is tough for sure. I think the BRRR (Buy Regan Refinance and then rent. My lender here does recommend getting renters in before the refi to create a cash flowing unit first. This method with rates being so low is a good option.

Are you assuming the remainder of the loan on your parents property? I would also look into zero opportunity zones in Massachusetts if you are looking to make this a long term passion/career. 

@Kirk Frickey I agree with @Mike Sedlacek I would also suggest developing relationships/networking with Estate Attorneys. I have earned some deals through Estate Attorneys, with that you have a warmer introduction as well coming from the attorney