All Forum Posts by: Ted Strzelecki

Hey BPers. I am looking for suggestions for a bank for portfolio lending in the Central MA / Metro west region of Massachusetts. Any and all recommendations are super appreciated! Tia

Hey fellow investors, I hope you are all crushing it out there. I have come to seek counsel from the collective brain trust here at BP. So I am looking to do a potential 40+ condo conversion unit from an old mill. I am looking for advice from anyone that has actually done this on the financing side. I have the experience actually doing the construction side for the last 2 decades. Now I am looking to be the one improving, and owning it. Any help here is appreciated. I am a buy and hold investor with several properties currently so REI is something I am familiar with, just not on the commercial side as of yet. This could be a buy and hold or potential reno and sell. I am really open to both as I enjoy the long term ROI but also see the potential of making less of ROI in the short term but increasing my capital to invest into other projects. Thanks in advance!

When it comes to INVESTING in RE, agents are 100% useless. They take too long, they slow down the process, they are looking after their commission and etc. Anytime I could see a property on Realtor.com, find the owner, call them and work over the numbers myself I would 10/10. I can discuss and negotiate more in 15 minutes with the decision maker/owner than two agents trading stories about each others children and then trying to figure out how to meet in the middle without pissing each other off or their clients. For the personal residence market, sure they might have a place. For investors, they slow me down too much. My 2 cents

State in question is North Carolina

So I have a question for the collective minds at BP forum. It seems there are a lot of RE finance companies right now. Is there a license required or a charter needed to sell these products or can just anyone do it? I'm not talking about FHA and obvious ones. Thanks in advance

Hello and welcome to BP. I am invested in central and western MA. Message me if you have any questions if you like

James I am guessing you haven't been around for the 80s when interest rates were as high as 17%. Since 2001 when rates were dropping and then became 0 at the FED the rates we have had for the last 15 or so years are not "normal" In fact I would say we have been spoiled and I would even be sold to bold as to say this: Get used to it getting higher, much higher. I would take it and understand that the rate is irrelevant because you are deducting it as an expense anyway. If you hesitate you will be upset that you didn't take the rates today when you are paying 7 or 8 by next year

Grats. I have to ask as a investor who is also positioned here in Central MA, aren't the taxes a bit too much in the city? I nor any of my colleagues will touch Worcester due to the crazy high rate and their outrageous remodeling demands. What are your thoughts?

@Doug Prahst why would the seller give you the rent for that month if they paid on the first? Close on the 27th of the month before and the 3 day right of refusal becomes nullified. The third day is either the 30th or 31st leaving you with the first or second day as the 1st, making the rent yours. Cheers