All Forum Posts by: Willie Mandrell

I started my own networking group on a whim -- I was looking to meet like-minded individuals who wanted to substantially grow their wealth via real estate investing. Boston is a hot market for Real Estate and absolutely everyone has access. 

I planned my first event for January 30, 2013. 24 people RSVP'd. Some I knew, some I didn't. We had presenters lined up, an event location, and were all ready to talk real estate (deals, financing, landlording, etc.).

Now, we have over 2,100 active members and have an upcoming event the first week in December with over 300 RSVPs. 

On October 26th, I was a guest speaker at an event and was surprised by a dear friend. She publicly presented me with a Special Recognition from Boston's Mayor Marty Walsh for our networking group and the work we do to help bridge the wealth gap. Running this group is hard, but I've never been more proud. Networking is not a thing of the past. Networking is how we build our relationships, get our name out there, ask our questions of people we wouldn't normally have access to or the attention of, find new ways to achieve our goals, etc. Now get out there!  

The BRRR strategy has helped me purchase millions of dollars in Real Estate using little to none of my own capital. It's an amazing wealth-building strategy that's actually quite simple when you break it down. I'd love to show you exactly how I'm doing it and explain why there's enough opportunity out there for all of us.

What is the BRRR Strategy?

BUY - Strategies for finding and evaluating good deals

RENOVATE - How to increase the property's value and provide a quality rental product

RENT - How to find quality long-term tenants

REFINANCE - How to reposition your property with a new long-term lender

Come join us as we discuss taking your Real Estate portfolio to the next level. This will also be a terrific networking opportunity to meet other savvy investors, partners, lenders, and more.

RSVP at https://www.meetup.com/Networth-Investors/events/265343719/

Invite your friends and family & see you there!

Want to see what we are doing every day and see our projects during every stage? Follow us on:

INSTAGRAM (www.instagram.com/bostonwealthbuilders)
FACEBOOK (www.facebook.com/wmandrell)

Come join us for a laidback evening of drinks, appetizers, and networking!

This is an informal gathering for Real Estate Investors in the Boston area. It's a great opportunity to meet potential partners, money sources, subcontractors, mentors, and so many other great connections. Looking to push forward with your investing career? Here's your chance to surround yourself with people who want to do the same! Looking forward to seeing you there!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $650,000
Cash invested: $200,000

This is 20 Corona St., built in 1910, is the most recent addition to my buy and hold rental portfolio. The first floor was owner occupied for over four decades. The purchase price was $650,000. With little structural work needed, the $200,000 renovation budget will mostly be dedicated to completely updating the kitchens and bathrooms, refinishing the existing hardwood floors, removing wallpaper and interior painting, replacing windows and repairing the back decks.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $650,000
Cash invested: $200,000

This is a February BRRRR. Triple-deckers abound in the Boston neighborhood of Dorchester. This is 20 Corona St., built in 1910, is the most recent addition to my portfolio of buy and hold rental properties. The first floor was owner occupied for over four decades, and the top two floors had been vacant for many years at the time of acquisition. The purchase price was $650,000. With little structural work needed, the $200,000 renovation budget will mostly be dedicated to completely updating the kitchens and bathrooms, refinishing the existing hardwood floors, removing wallpaper and interior painting, replacing windows and repairing the back decks. The trash removal crew will need to take special care of the asbestos covered original boilers. Pictures show condition at purchase, stay tuned for updates!

Hello Rob, 

Congrats on receiving your license! You're unlike most new agents in that you're doing a little research prior to joining a firm. Whatever office you interview with, make sure you ask about available training, floor time, fees, coaching, leads, mentoring and other grow opportunities within the company. Most importantly, does the company just want you to crank out transactions for them or are they also interested in your long-term financial well-being? 

If you have an interest in selling and assisting buyers in finding great multifamily deals, we'd love to sit and chat with you. 

Good luck during your search!

Hey BP-ers!

Tossing it out to all you seasoned developers and agents.  I am currently in the midst of complete gut rehab condo conversion.  The three condos will be ready for the spring market.  With these basically new condos and smaller new construction condo complexes that are at the middle income price point - What are your sales and marketing strategies?  

Do you try to line up buyers during the construction phase and offer customization options? 

Do you do a marketing blitz just as the finishing product is about to hit the market?  

How do buyers feel about putting money/time/interest into a product that isn't complete and that isn't at the top of the market like luxury units?

Looking forward to your responses - thank you!

@Avery Heilbron the programs are pretty similar.. the only downside I can think of is that bc MassHousing is a state program, not all lenders may do it. So you might have to shop around a bit. If you are looking at getting into condo associations, there might be restrictions around financing as well, but that would be at the discretion of each association. Apart from that and the required PMI with FHA, I don't see any other drawbacks. But I would open it up to the BP community to hear other opinions.

I agree with @Charlie MacPherson! Get in now if you can. Add equity to a smaller place that you can afford now. A property that needs cosmetic work or projects that you can handle or would require only a moderate amount of capital. In a year or two, leverage that equity to help you get into a new property - now you've got two units. Rent one, live in the other. Take advantage of first time homebuyer programs Mass Housing Finance Agency and Mass Housing Partnerships are better options than the FHA (FHA requires PMI). These programs not only have low downpayment requirements but also have downpayment assistance. I've found this website helpful: https://www.nerdwallet.com/blog/mortgages/massachu...

Good luck!

Lead generation is a numbers game no matter how you cut it.  I've tried a couple of different platforms, including signs/banners, Zillow leads, mail campaigns, and networking.  Networking and word of mouth has generated the most leads.  I just started using Zillow leads a couple of months ago and haven't gotten it fully up and running yet.  No matter which method you use, you have to fully commit to it.  Just having a Zillow account won't generate leads - you need to get 5 5-star ratings to boost you profile and make sure you are quick to respond to anything that does come through.  It also depends on who your target market is.  If I'm looking for investment properties - doing a direct snail-mail campaign in neighborhoods with high rental rates isn't going to yield good leads bc the mail is not going to get to the actual homeowner.  However, visiting neighborhood associations, investor groups and handing out your business card will help.  

@Andrew LeBaron I'm curious how you are using virtual assistants and if it has been a worthwhile investment for you??