All Forum Posts by: Tim Slatt

Buying in Nevada, scheduled to close Wednesday, already received a clear to close.  We currently have no car and are renting one until this process is complete.  I was intending on purchasing one immediately after closing, but our lender is telling us to wait at least a week (??)  Am I correct in assuming once the deed is recorded and we have the keys, we're in the clear?  My only theory is he wants our mortgage to look clean until he has the chance to sell it to a big bank (it's a small private lender), and he's only looking out for the company's interests.  Any advice?  Can a lender "take back" a loan once it's closed and the deed is transferred?

Agree with what everyone's saying...I've worked in electrical distribution for 12 years now, and I've learned enough to do damage (I mean, good solid work) on my own house, but I would call an electrician for anything I needed in my rental unit.

Hi Isaiah.  If you are looking for a 45 minute commute during regular commute times, $250k is going to be hard to find.  Weymouth is a nice city in on the water about 15 miles out, but multi families there go around $400k+.  Bridgewater is a nice town about an hour plus out of Boston, with plenty of duplexes and triple-deckers available as it is a college town.  You may still have to settle for a fixer upper at $250k though.  As far as new construction goes, regardless of the town, anywhere inside the 495 belt you'll be hard pressed to find anything but McMansions being built, due to the high cost of the land.

Good luck and welcome!

@Christopher DeFronzo welcome to BP!  I'm a newbie myself (been on about a month), and have already started networking with members.  It's a great forum for information and getting to know members of the community. 

I never considered Western MA, but with the MGM opening there next year the area's prime for revitalization.  I'll have to check it out...I'm in the same boat as you, can't afford anything inside 495.

Hi Neighbor!  I've been a member a little over a month myself, and I've already made two connections I wouldn't have otherwise.  It's a great forum for information and networking.

@Paul Timmins Paul, do you have any info on the Rockland REIA? They don't seem to have a website anymore but I'd be interesting in attending.

Thanks Shaun!  I'll definitely try to reach out.

Hi @Erin Gillan - I'm a fellow RE newbie from MA myself.  I've been on this site for a couple weeks now, it's great for networking (especially for someone like myself who doesn't really know anyone in the business).

If you hear of any networking opportunities in our area I'd love to know about them. There was one REIA in Rockland but it doesn't appear to be active anymore.

Welcome!  I'm a relative newbie myself - this is an awesome site for collecting info and networking.  I wish I could have pushed my wife harder to buy a triplex when we bought our house, but she was dead-set on a buffer zone from other people.  It's too bad, because we'd definitely be getting our mortgage 100% paid at this point.

It's inheritance money, nothing shady.  He's about as straight an arrow as I know, that's why I'm even considering it.  Good question about what I bring to the table.  My experience as a landlord, my history working in that market (he doesn't live near there), and the fact he doesn't want to have anything to do with managing the property.  I'd be the one screening tenants and handling the issues.  Hope that clears things up (or makes them cloudier!)