All Forum Posts by: Sean Connolly

Thank you Brad and Bruce. I’ll be honest. I would have assumed the complete opposite about the larger companies, so that is good information. 

Hello All,

     I am a real estate investor from Massachusetts and just passed my real estate exam. I live in Boston (Brighton) and looking to find a brokerage to work for. I have heard horror stories of new agents entering the field under the wrong broker and being thrown to the wolves with very little guidance. I am less concerned with compensation percentage than I am with finding a knowledgable broker who is willing to teach. 

I am 31 years old. My full-time job is a Firefighter/Paramedic, and also do carpentry on the side. I also own a duplex and a SFH which I renovated and now rent/maintain myself. I have experience with subdividing as well. I am very eager to learn more about real estate and just looking for a good fit. If anyone has any recommendations, it would be greatly appreciated.

Thank you, 

 Sean Connolly

I would say that if you’re looking to hold the property, keeping it one lot and putting another building would probably be less hoops to jump through. Another big issue is if it’s town water/sewage or well/septic. If it’s well septic then it limits the amount of bedrooms you can have on square footage.

Hey Charles. I was successful in subdividing the property, but luck was not on my side! It took years and about 4x the estimated costs. My best advice is to talk to professionals who are well established in Wayland, as they would have an easier time dealing with town officials, if they have a good reputation. I’m assuming you have already looked into zoning bylaws that tell you the minimum square footage and frontage required to subdivide. My property is in Westport, and I believe each town is very unique in their zoning bylaws. I had a great engineer, and a knowledgeable attorney do the work for me as well. Hope this helps. 

@Jason Regan

$325.00 for the Lead Cert. No lead detected. I was very confident I had none and now I just have documented proof so I’m good with that outcome. 

Thanks everyone. I decided to err on the side of caution and have an inspector coming out next week.

I am renting to a family with a child (4yrs old) for the first time and am getting a lot of conflicting information as to what needs to be done. Some have told me it is required to get tested before they move in. Some have told me it is required ONLY if the tenant requests. Some have told me a disclosure form is sufficient. The house was built in the early 70's. I have painted and rehabbed almost the entire house and have had no suspicion/encounter with lead paint. 

Do I NEED to get a lead inspection done in order to rent to this family, or is a Lead Disclosure Form stating I have no knowledge of lead pain sufficient?

I am willing to do a test if required, even though I am very certain there is no lead paint.

Hey Richard,

 I was actually planning on writing a new post on it. The ups and downs of this deal is long enough to write a book on, but it eventually worked out. About 2 years longer and 30k+ over budget. 
I was able to subdivide. I sold the third lot and used it to pay down the mortgage. Originally bought for 319k. Sold land for 85k. By subdividing the two remaining houses, it dramatically increased the appraised value. One house appraised for 270k so I was able to put the remaining mortgage balance on that one and now the other house is mortgage free. 

@Anthony Thompson Hey Anthony. I would appreciate your recommendation. Cranston is well within my range. I am there on a weekly basis. 

@Jonathan Bombaci Hi Jonathan. North Reading is a bit of a hike, but sounds like he is a knowledgeable guy. I will keep him in consideration. Thank you.

 @DJ Richmond Thanks DJ. I will keep that in mind.

Hello all,

 Looking to find a new accountant in southeastern Massachusetts. I am willing to drive as north as Boston and Rhode Island as well. My current accountant is getting a bit "checked out" and this years tax returns are a bit more complicated than past. Looking for someone a bit more updated to new tax laws. Thank you in advance.

-Sean Connolly