All Forum Posts by: Robbie Reutzel

Approvals are almost completed for a brand new 2600 SF 4 BR/3 BA colonial with a walk-out basement and 1 car garage. ARV-$799,000.00+

Don't take my word for it, take a look at the comps:

Active 94 Manatee Rd., Hingham, MA 8 room, Colonial, 2,284 sq. ft. $798,500

Sold 22 Thaxter St., Hingham, MA 7 room, Antique, 2,608 sq. ft. $839,000

Sold 117 Hobart St.,Hingham, MA 9 room, Colonial, 2,367 sq. ft. $875,000

UAG 4 Stevens Way, Hingham, MA 7 room, Cape, 2,420 sq. ft. $859,000

UAG 16 Weathervane Ct., Hingham, MA 7 room, Colonial, 2535 sq. ft. $979,000

UAG 11 Weathervane Ct., Hingham, MA 8 room Colonial, 2,680 sq. ft. $1,000,000

Active 14 Weathervane Ct., Hingham, MA 9 room Colonial, 2,680 sq. ft. $1,000,000

You NEED this project! Get it before it's permitted, and change to your own designs, if you wish. Architectural drawings available for serious buyers. Just pull your permits and we're ready to go!

Call Rob for more information at 781-281-7643

Hi @Raluca G., this is a great place to network and learn.  

Start with the Beginner's Guide and go from there.  I also suggest you set up some keywords to receive notifications when topics of interest are being discussed.

You should also start attending REIAs. There are some very good ones in the Boston area. My favorites are Black Diamond which meets in Waltham and Worcester in alternating months, Chelmsford REIA (NEREIA), and Justin Silverio's quarterly meet-up.

Good luck!

Looking to join a growing team with the best commission splits in the business?

We are seeking an experienced agent to work with buyer and seller leads.  You will receive training as an agent and the opportunity to network with investors.

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Hello @Ian Wright and @Francisco Herrera,

This is very standard data that you can find on listsource.com.  Just search by city, area code, zip code, radius from a property, county etc. and select apartments under property type.  That should do it.  You can throw in other criteria like mortgage and foreclosure data or absentee as well.

Hope that helps.

Hi @Devonta Taylor

Becoming a broker was my entrance into the business. As far as learning the nuts and bolts of a transaction it can certainly help.  You will also learn the neighborhoods better if you are out with clients a lot.  I don't think it helped me much from an investment side, though.  The reason is because agents tend to look at "deals" from a retail perspective.  An example is that a house that is selling for $350K in a neighborhood of houses selling for $380K is a "deal" but not if you plan to rehab and re-sell it.  There's not enough spread but it's sometimes difficult to convince agents of this. 

I wouldn't say not to get your license but I would also go to as many investor networking groups as possible and expose yourself to the types of transactions you want to be doing.  You are the product of the 5 people you spend the most time with.  Make them successful investors if you can.  

It starts with a clear vision of the life that you want which directly shapes the business you will need to build by taking massive action. 

Good luck!

Hi @Colin Reilly,

Welcome to BiggerPockets!

To answer your question, while we monitor the MLS, the vast majority of our leads come from other sources. Direct mail, referrals from agents, attorneys and others, bird dogs, online etc.

I'm not saying you can't find properties on the MLS but, as you said, it's very difficult in our market (MA) and yours. You can end up wasting a lot of time.

Best of luck,

Rob

No, everything out there does not get posted.  You can also check Cityfeet and apartmentbuildings.com.  You can also search for commercial brokers like Marcus & Millichap that service the area and start calling.  Another good source is property management companies in the area.  They may work with you if they know someone is selling but want to try to keep their management fee by workign with you.  If that doesn't work, try direct mail and start calling.

Hi @Vikas Ahuja

I believe this has been discussed quite a bit so you might want to search.  Quickly, and I know others are different, but I think the best way is to do a search on Loopnet.com for the type of property you are looking for.  I'm not saying that Loopnet is a good source of deals but it is a good source of brokers who spend their entire day networking with apartment owners.  Get in with them and you may find deals.

I would also suggest, especially in this climate, that you do some direct mail.  You can easily find a list of owners of 10-20 unit apartments.  Mail and start networking.  Offer to take them out to lunch or for coffee and start a database.  Check-in with them periodically.  This will not only allow you to find potential deals but also allow you to find mentors/other investors who you can bounce ideas off of etc.  It's always good to surround yourself with people who have the same goals.

Good luck!

And check out the Black Diamond REI next time it's in Worcester www.BlackDiamondREI.com it's a great networking event.

Take a look at this Hingham, MA teardown!

Approvals are almost completed for a brand new 2600 SF 4 BR/3 BA colonial with a walk-out basement and 1 car garage. ARV-$799,000+

Don't take my word for it, take a look at the comps:

Active 94 Manatee Rd., Hingham, MA 8 room, Colonial, 2,284 sq. ft. $798,500

Sold 22 Thaxter St., Hingham, MA 7 room, Antique, 2,608 sq. ft. $839,000

Sold 117 Hobart St.,Hingham, MA 9 room, Colonial, 2,367 sq. ft. $875,000

UAG 4 Stevens Way, Hingham, MA 7 room, Cape, 2,420 sq. ft. $859,000

UAG 16 Weathervane Ct., Hingham, MA 7 room, Colonial, 2535 sq. ft. $979,000

UAG 11 Weathervane Ct., Hingham, MA 8 room Colonial, 2,680 sq. ft. $1,000,000

ACT 14 Weathervane Ct., Hingham, MA 9 room Colonial, 2,680 sq. ft. $1,000,000

You NEED this winter project! Get it before it's permitted, and change to your own designs, if you wish. Architectural drawings available for serious buyers.

PICTURES AND PROJECTIONS here: http://ow.ly/yQAC305W0UM

Yes, but if it's sold occupied and you have not gone through the proper legal channels you can still get into problems.  You will need a good eviction attorney if you are going to take it occupied.