All Forum Posts by: Michael Healy

Thanks. Thinking about a possible new investment niche: attorney landlording. From what I can see there'd be much less competition. 😜

Interesting perspective. Thanks. It's a portfolio of lots and properties with a variety of structures and development opportunities. I believe most of the offices are attorney's offices. So even with advanced asset protection strategies (dst, series LLC, etc) you would stay away?

My attorney is co-owner of his office space, which is for sale. He's currently helping me with two closings. Obviously I would find other representation if I pursued a purchase, but in terms of conflict of interest:

1) Does this create a COI on my current transactions?

2) I assume if I am his landlord he can't represent me

Perspectives appreciated.

MH

Prayers also for those Americans (and their mourning families) needlessly executed by law enforcement.

Well done, LADIES!

How is it possible that BP consistently reads my mind. Literally (literally!!) twice a week, I'll ponder, " Gee, I'd love to learn more about _____." And the very next day there'll be a blog post about _____.

Well done guys!!

You can buy a very nice condo in an older Dupont Circle or Logan Circle building. I lived in a full service condo building the General Scott next to the Aussie embassy and walked to work, the happening 14th street corridor, and everywhere in town, really. It's also a great biking city. You might want a house tho...

Rigo Medina the seller may be close to retirement and would prefer a steady stream of income at a good interest rate (6%+) that is better and more predictable than what they'd get from the stock market. Or they may have significant capital gains they want to defer. It's same reasoning why younger folks just starting out but rental property but maybe the older ones just want out of the loans lording business.

Thanks Nick Montville my understanding is that discount clauses are also illegal / invalid in Massachusetts. I've reviewed the existing leases for the tenants I'll be inheriting and they seem ignorant of these laws as they specify late fees after x number of days

Question for other Massachusetts landlords. I see that the state laws prohibit landlords from assessing a fee for late rent until 30 days after the rent was due. This seems rather ridiculous to me. But I also understand you can start eviction almost immediately. Since late fees are a key method for training tenants (endorsed by Brandon and Heather in their great book on managing rental properties)--how do you incentivize tenants without the ability to use a late fee? Let's assume it's a tenant who always pays but maybe 3-5 days late. Thanks!