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Real Estate in an IRA, Part 2: Managing Assets in a Self-Directed Retirement Plan

August 18, 2014 by Bernadette Trafton Leave a Comment

Last week’s blog discussed setting up a self-directed plan that allows real estate in your IRA. As promised, this week’s topic covers how to properly manage those assets. There are specific rules you must adhere to in order to comply with IRS regulations so your self-directed IRA works for you instead of against you.

Now that you have set up your self-directed IRA, have it properly funded, and are ready to begin looking for property there are several things to keep in mind. While self-directed retirement plans allow many different alternative investment options, there are strict guidelines relevant to prohibited transactions and disqualified persons you must be aware of. Failure to comply could cause your IRA to suffer heavy penalties or even disqualification.

When exploring real estate options, know that your IRA is not allowed to purchase property from you or from another disqualified person. Your IRA is also not allowed to sell property to you or a disqualified person. Disqualified persons include:

  • The IRA holder and his or her spouse
  • The IRA holder’s lineal descendants (children, grandparents, etc.) and their spouses
  • The IRA holders lineal ascendants (parents, grandparents, etc.)
  • Investment advisers, managers and fiduciaries
  • Any corporation, partnership, trust, or estate in which disqualified persons have a 50 percent or greater interest
  • Anyone providing services to the IRA

Another important thing you need to understand is all property your IRA acquires is owned by your IRA and not by you. Any earnings gained, whether through resale or rental income, flow directly into the account. Expenses relative to the property must be paid directly from the IRA. When purchasing real estate in your self-directed IRA, it’s critical to plan for anticipated expenses in advance, so your IRA is prepared to cover them. If you have partnered on a purchase with other parties, your IRA only pays for its percentage of repairs and also must receive only its share of income.

Additionally, you are unable to use the property for personal purposes. For example, if you own a vacation rental you or other disqualified persons may not vacation there. The real estate was purchased to build wealth for your retirement. Using the property for personal purposes before you hit retirement age would be considered a current benefit and your IRA will be penalized, if not disqualified.

You are personally not allowed to perform repairs or maintenance on real estate in your IRA. Doing so constitutes “sweat-equity” and is considered a contribution to your account. The IRS only permits contributions to an IRA to be made in cash—and sweat equity cannot be measured in value. Repairs and maintenance must be performed by a third party—who is not a disqualified person—and paid at current market rates.

On the flip side, you do not have to hire a third party to manage the property in your IRA. The IRA owner is able to manage the property as long as you don’t perform sweat equity or pay for expenses out of your own pocket. Again, all income and expenses flow directly into and out of your self-directed IRA. Rent checks and other income must be written to the IRA and deposited directly into the IRA account. Income or expenses are not allowed to flow through the IRA owner for any reason.

Hopefully it goes without saying that it is crucial you perform due diligence when looking for real estate to acquire in your IRA. You want to find a decent property in a location suited for the purpose you desire. If you want a quick rehab-and-flip, the goal would be that the cost of the property plus the money it costs your IRA to renovate is low enough for your IRA to make a profit at resale. Location is key whether conducting a rehab or acquiring rental property—you want to be as sure as you can there is a market for resale or good potential for acquiring tenants for rentals.

If you have any questions regarding real estate in your IRA, please contact Kevin Collins at AdvantaIRA Trust by calling (617) 830-1070 or emailing Kevin@AdvantaIRATrust.com.

 

Filed Under: Uncategorized Tagged With: 12/31/2012 deadline for gift tax, an advisor you can trust, boston, boston area real estate investors association, Boston Commercial Real Estate, Boston Marathon, diary of a newbie real estate investor, free real estate education, ma Real estate, mass foReclosuRes, real estate mentor contest, real estate social media, The meaning of fear, trusted advisor, unsecured loans, www.bostonareia.com

Diary of a Newbie Real Estate Investor 7/1/2014

July 2, 2014 by bostonareia Leave a Comment

So…after about 4 months of mentoring….listening to me (Bernadette) drone on about the website, Bernadette Trafton, Chief Connectormarketing, branding and social media and listening to Peg (JEM Property Group) on deal structuring, writing contracts and more…I just got this blog post!  I can’t tell you how proud of Mike and Jacqui I am for actually listening to us, taking it in and then, above all, taking action!  This is WAY BEYOND COOL!

mike and jacquiThe Deal & Advice for Our Fellow Newbies

We finally have some exciting news!  We have an offer accepted for our first rehab deal and will be closing by the end of the month.  I have to say, we were starting to get discouraged.  We had been marketing with door hangers, direct mail, driving for dollars and attending as many networking meetings as our free time would allow.  But so far, no deal.  Weeks turned in to months and we just felt like nothing was going to happen.  Then one day we suddenly had a house and we are overwhelmed (in a good way) with the amount of work to do.

How did we get the deal?  Mike and I spent a lot of time working on our website with the help of Thrivehive and wanted to make sure that if someone did come across our webpage it would be easy to navigate and easy to get in touch with us.  We have received leads through our website about potential deals before but this is the first lead where we were like “Wow! We NEED this.” (*note from Bernadette, the tracking that Thrivehive provides is awesome, and they build the website using your ideas, so glad they listened on this one and their website – www.FitzProperty.com looks awesome!)

A seller was calling local investors to quickly sell his home.  When we returned the call the seller stated he had accepted another offer with a national rehabbing company.  Mike asked “Did you sign anything??” (He didn’t!) We told him we would view the property that night and get him an offer by 8am the next morning.  So we grabbed our flashlight and ladder and snuck around in the dark peeking through every window and door.  We were able to see the heating system, water and electricity through the basement windows.  The upstairs was UGLY which is perfect for us.  We went to bed confident and excited that we could get this house.  This was exactly what we were looking for.

The next morning at 7:30am Mike gets a call from the seller who says he is sorry but he is only accepting the first offer.  WHAT!? Even though we hadn’t even been inside the property we decided to take action. We made an offer during that phone call…. rejected.  We made an offer over text message…. rejected.  We tried to call again… ignored. Finally Mike decided he was going to email the seller an official offer with a copy of our check to purchase.  A few hours later we received a call from the seller’s attorney. After a conversation between our attorney and the seller’s attorney we had a signed and accepted offer.  Talk about a roller coaster of highs and lows.  Peg was very helpful giving tips on how to pursue this deal and then walking us through the financing process.  We may not have been able to seal this deal without her!

Now that we have an accepted offer how are we going to pay for this? They say the money will come when you have a great deal.  True and false.  The money comes with a price.

What we learned so far:

1. The quote “It takes money to make money.” is true.  With this deal we had no issues with finding lenders, the problem is they can come with a big cost. We are looking at putting out a minimum of $35k with the private money and bank options we have considered so far. Do your research and be prepared to go all in, if you don’t believe in your investment who will?

2. Set up your business legally.  The week we got the deal under contract we had to scramble to get our LLC registered.  We had no idea that the majority of lenders only loan when you have a business.

3. Get all your ducks in a row.  Be prepared and have your key group of people readily available. Lawyers, contractors, plumbers, electricians, real estate brokers, lenders. Mike and I needed some help here. Thank you to our mentor, Peg, of JEM Property Group for being available 24/7!

 4. Be prepared to make a very detailed list of what you plan on doing with the property.  Exit strategy, marketing plans, comps, rehab plans. You will need to present this to potential lenders and investors. It is also just good to have a business plan for your own reference.

We plan on having 2 open houses (one during construction and one at completion) for Boston AREIA members and Fitz Property followers.  We look forward to seeing everyone and answering questions and hearing your advice.  In the meantime we are continuing to market and look for future rehab deals. Keep reading the blog in to hear about our progress.

Also please check out www.fitzproperty.com where we will be posting pictures of our recent major remodel of an apartment in one of our rental properties.

Mike & Jacqui
www.facebook.com/FitzProperty  
www.fitzproperty.com

 

Filed Under: Uncategorized Tagged With: 12/31/2012 deadline for gift tax, an advisor you can trust, Boston Area real estate investors, boston area real estate investors association, Boston real estate investing, Boston real estate investors, boston real estate investors association, boston reia, Commerical Real Estate in Boston, fitz property, flip properties in boston, flip properties in framingham, JEM Property Group, sell your house fast, sell your house in boston, sell your house now, trusted advisor, www.bostonareia.com

5 reasons real estate investors may want to exchange your property

June 2, 2014 by bostonareia Leave a Comment

Bernadette Trafton, Chief Connector   Good afternoon investors,

PFlowers594e_s Picture 2-07

Vice President Certified Exchange Specialist New England Region (877) 781-1031 Toll Free patricia.flowers@ipx1031.com

I was talking to Patty Flowers from IPX 1031           Exchange Services the other day.  I asked her what the main reason there were for real estate investors to exchange properties and why it’s important to know about this even as a beginning investor.  She shared this article with me about the five reasons to exchange your properties.

FIVE REASONS TO EXCHANGE – A story about Appreciation, Depreciation, Cash Flow, Diversification  and Tax Deferral

If a real estate investor bought an apartment building for $100,000 in 1975 and it is now valued at $1.8M dollars, the property has appreciated significantly and is now worth eighteen times what it was in 1975. Clearly, this was a great investment. But, like all investments, one should analyze whether it is now better to hold or to divest the asset.  The apartment building is currently owned free and clear of debt. It has been owned for more than 27.5 years so it is fully depreciated and no longer eligible for annual depreciation deductions on the investor’s tax return. Reviewing the cash-flow, after property taxes, maintenance, and insurance, it produces net rental income of about $3,000 per month.

$36,000 per year on an investment property worth $1.8M amounts to 2% annual income on the investment. However, the original $100,000 investment has grown by 1800% and there is now $1.8 million dollars’ worth of equity tied up in one asset. Since interest rates are at historic lows, what better time than now, when property values are lower than they were a few years ago, to unlock some of that equity and exchange, tax deferred, into one or more properties with greater income and long-term appreciation potential?

Through an I.R.C. §1031 exchange, this real estate investor can sell his investment property and accomplish a number of tax and investment goals. A 1031 tax deferred exchange permits the investor to defer federal and state capital gains and depreciation recapture taxes. The investor can buy property with improved cash-flow, and if encumbered, with an interest deduction to be claimed. If the replacement property is greater in value than the
relinquished apartment building, then depreciation deductions will also be available for the increased basis (the difference between the purchase cost of the new property, less the gain deferred on the exchange of the old property). Additionally, because multiple properties can be acquired through a single exchange, the investor can diversify the real estate portfolio, thereby hedging the investment risk inherent in a single property.

Appreciation, depreciation, cash-flow, diversification and tax deferral are important drivers for doing a §1031 exchange. Investors should examine their real estate holdings and do the 5 point analysis suggested in this article. If repositioning a real estate portfolio is in order, the valuable tax benefits of a 1031 exchange should be considered. Investment Property Exchange Services, Inc. (IPX1031®) is a Qualified Intermediary providing a full range of tax
deferred exchange services across the country including forward, reverse and build-to-suit transactions. We look forward to helping you and/or your clients maximize qualifying investments through a §1031 exchange strategy.

Be sure to join us on June 19th when Patty breaks down the process of 1031 exchanges. 

Filed Under: Uncategorized Tagged With: 1031 exchanges, 1031 Exchanges in Boston, 12/31/2012 deadline for gift tax, an advisor you can trust, boston, Boston Area real estate investors, diary of a newbie real estate investor, finance, FLIPPING IN BOSTON, free real estate education, Prosper in 2013, real estate mentorship contest, The meaning of fear, trusted advisor, unsecured loans

Diary of a Newbie Real Estate Investor

May 5, 2014 by bostonareia 1 Comment

Bernadette Trafton, Chief ConnectorGood morning folks, Well Mike and Jacqui have been moving forward with their real estate business.  Their website is almost complete, they’ve been doing direct mail marketing and Mike was able to go to a property with Peg and a few others with the agent he’s working with.  A little over a month ago, I got a call about a property in Newton center.  I figured that this would be a great learning opportunity for Mike.  I called my co-mentor Peg Graveline of JEM Property Group and set up a time for them to go view the property.  Mike took all the pictures and got to watch Peg negotiate and sign the contract.  In the Wednesday night mentoring sessions that we do every week, we’ve covered how to put together a package for exit strategies for a property.  This is essential when pulling together funding partners or presenting to investors you may want to wholesale the property to.  We’ve covered the importance of consistent marketing and developing relationships with Realtors.  I introduced them to my favorite account Joe Craft, CPA and in our most recent session introduced them to John Syron of Aurelian Lending to go over the possibility of using their Unsecured Lines of Credit program.  We will be doing a new webinar on this service in May.  Stay tuned.  I also sent them a property in Dorchester that came across my desk this past week.  Not sure if they went to view it, that’s for the next post.  For, now….what have Mike and Jacqui been up to over the past week? mike and jacquiUpdate: Evaluating Potential Rehab Deals Since our last post we have been working with local real estate agents to learn more about the market for single family rehab investments. Last weekend, we went out with Matt Heisler, an investor friendly real estate agent who specializes in the central and metro-west markets.  Matt understands we are looking at properties from an investment point of view and has been a great resource.  With Matt we looked at properties inside the 495 belt, but about 30 minutes away from our target market of Framingham. The first house we saw, the Cat House, was a small 900 sq ft ranch in your average working class neighborhood. We immediately noticed the smell of cat urine and that the house was pretty much a mess. Our hunch is the house is currently rented to tenants and the seller may be motivated due to the extensive deferred maintenance inside and outside of the property. To expand the house, we could potentially add value by finishing the basement and adding a garage. However, we are unsure if the addition of a garage provides a significant enough return on investment to make it worthwhile. Our research suggests you may only get a 1:1 return on the money you invest to build the garage, however you will attract a larger market of potential buyers. Kitchens and bathrooms all need to be gutted and the exterior of the house needs some cleaning up.  House has original hardwoods throughout but the current tenants have let their cat wild and don’t seem to care about cleaning up therefore flooring needs to be replaced.  We are thinking of offering $160k. Estimated rehab costs: $45-60k depending if we add a garage) Potential sale price: $250-275k. House number two, the Old Folks House, seemed much more promising and we will admit, it was a breath of fresh air walking in. No cat urine! This was a much larger ranch in a quiet hill top neighborhood.  Real estate owned property that has been on and off the market for the last year. Needs new kitchen, paint and possibly updating the basement.  The basement was finished probably 25-30 years ago and although it is large and bright with a full bath, it is outdated. We would want to refinish the basement, but are concerned about return on investment. The house is located in a beautiful neighborhood, however across the street is a large Victorian that has been converted to a nursing home.  Not really an eyesore, but definitely out of place in a neighborhood of single family homes.  Is this a deal breaker for buyers? To be on the safe side of the budget we are reducing the estimated after repair value by 5-10%.  We are thinking of offering: $200k. Estimated rehab costs: $50k. Potential sale price: $315k. As we move forward we are still refining our investment criteria for a rehab property, however we are current looking for: 3-4 bedrooms with the potential for 2 full bathrooms, hopefully a master bath or space to add one in.  If the layout is not ideal, is it easy enough to manipulate? After that we don’t really care what the inside looks like because we will probably be replacing most of it, so the uglier the better. We also look outside and at the curb appeal, is there enough yard? How is the neighborhood? Spy on the neighbors, would you buy a house here?  From a numbers perspective we are targeting a minimum of $30k profit and for houses over $300k we are targeting a profit of at least 10% of the purchase price. Stay tuned to hear about any offers we put in and if accepted, how we were able to finance the deal as new investors.  In the meantime we are sending out our next batch of direct mail letters.  With our last mailing we got one response “Please take me off your mailing list”.  Hey, at least we know the letters were read! If you want to get in touch with us please contact us at jacqui@fitzpropery.com or mike@fitzproperty.com.

Filed Under: Uncategorized Tagged With: 12/31/2012 deadline for gift tax, an advisor you can trust, Boston Area real estate investors, boston area real estate investors association, Boston real estate investors, boston real estate investors association, diary of a newbie real estate investor, flipping properties, flipping properties in boston, real estate around boston, real estate club, real estate mentorship contest, sell your house fast, sell your house now, The meaning of fear, trusted advisor, unsecured loans, www.bostonareia.com

Thur 4/17 was a ROCKIN' meeting about funding!

April 19, 2014 by bostonareia Leave a Comment

OLYMPUS DIGITAL CAMERAThursday’s meeting was absolutely ROCKIN’!  Standing Room Only!

These are just some of the comments we got:

Anya wrote, “A can-do approach to real estate investing!”

Ann wrote, “There was a lot of great information!”

Karen Lee wrote, “This was my first meeting with BostonAreia and it was full of invaluable info on raising capital. I initially went to get more info on the IRA funding for real estate but left with a bunch of new ideas. Many thanks to Bernadette for arranging this meet up. I’ll be back.”Bernadette Trafton, Chief Connector

Kathryn Acciari wrote, “Good morning Bernadette,It took me a few years, but I finally made it to a meeting and I am very happy to have done so.  Last night was quite informative, and I am excited to be looking at next steps. What a friendly and professional group of people you have at BostonAREIA.  I hope to be a regular attendee at the meetings and to also be able to provide folks with some connections and leads in Worcester County.  There are deals out here.  Thank you!”

First, I want to thank the members that took the time to walk up to me to thank me for such a great meeting and thank you to those who took the time to send a quick note!  I love the members of Boston AREIA!!!  Kathryn is absolutely right about what a friendly and professional group of people we have.

A quick recap…So, we started our 5pm coaching session which focused on building and developing your connections through networking.  I hope that everyone got a lot out of it and if you are a member of Boston AREIA and you want a copy of the powerpoint, make sure that you contact me at dette101@gmail.com.  Remember folks, it’s important to contact the people you met at the meeting no later than Tue and plan to get together for coffee.

OLYMPUS DIGITAL CAMERAWe began the meeting and of course, everyone knows that ENERGY IS EVERYTHING!  The energy you put into something is what you will get out of it.  So, first 5 lucky investors had their business cards pulled out of the proverbial hat and were given the opportunity to stand up and promote themselves to the group.  We followed this with forced networking…which gave folks the opportunity to exchange business cards fast and furious with rehabbers, wholesalers, investor savvy Realtors and more…I think that section is a favorite among our investors!

We followed the networking section with Dickens Pierre-Louis putting together a market update…we actually sped through this section because we had so much jam packed into the meeting…I will be posting this soon.  Thank you soooo much Dickens!  Our mentee, Mike Fitzpatrick got up and talked about how he and Jacqui are progressing and asked if folks could please vote on their logo – check out the blog post!  Then, Peg Graveline and Lisa West of JEM Property Group and Dan McKenna of Mckenna Family Homes walked through the numbers of the Walpole deal!  They made it real and dispelled some of those beliefs people get from the flipping houses shows on tv.  After that, we introduced our phenomenal panel of funding experts.  Peter McLoughlin talked about hard money, how it’s used, what a lender will expect from the borrower, one of the hottest topics based on questions asked by the group, was Investing through your IRA with Kevin Collins of Advanta IRA, then Ric Beaudoin of Sage Bank went over traditional lending, Kim Harrington covered how to develop your funding partners and Peg Graveline covered JVing with other investors to get your deals done.  What a great night!  I have to tell you, I had more people walk up to me at the end of the meeting to tell me how much they appreciated the programming and the speakers!  Thank you so much to Peter, Kevin, Ric, Kim and Peg!

Next month, we are doing a special coaching session from 5pm – 5:30pm for members.  Ric Beaudoin is going to come back and he’s going to go over becoming credit worthy for those with credit problems and maximizing your credit score with those who don’t have issues, but would love tips to get your score as high as possible.  After that, it’s all about exit strategies….so, the contract is signed, NOW WHAT?

See you next month!  And, remember, if you need something or if I can help with anything between meetings, feel free to reach out to me.  Happy Investing!

Yours in success,

Bernadette Trafton, Boston AREIA Chief Connector

Filed Under: Uncategorized Tagged With: 12/31/2012 deadline for gift tax, an advisor you can trust, boston, Boston Area real estate investors, boston area real estate investors association, boston areia, Boston Commercial Real Estate, Boston Marathon, boston Real estate, diary of a newbie real estate investor, flipping, free real estate education, lead geneRation online, ma Real estate, real estate mentorship, real estate mentorship contest, real estate social media, trusted advisor, www.bostonareia.com

Are you an amateur or a Pro?

April 9, 2014 by bostonareia 1 Comment

Bernadette Trafton, Chief Connector Are you networking your way to success?  We all go to networking meetings, collect business cards, shake hands and network with people.  MOST people go home, put the stack of business cards on a shelf and don’t really do anything with them.  However, what we do afterwards is what truly determines if we are amateurs or pros and ultimately this dictates our success.  On Thursday, April 17th at 5pm, we are doing a special coaching session from 5pm – 5:30 pm for members of Boston AREIA only.  We will cover how you can go from being an amateur who just spends your time going to meetings to a pro.

Learn to: networking pics

  • Develops your connections
  • Provides value
  • Become a person of influence.

Members must RSVP for this coaching session by Tue 4/15 via email at dette101@gmail.com.

See you on April 17th!

Happy Investing,

Bernadette Trafton, Boston AREIA Chief Connector

Filed Under: Uncategorized Tagged With: 12/31/2012 deadline for gift tax, an advisor you can trust, boston, boston area real estate investors association, FLIPPING IN BOSTON, flipping properties, lead geneRation online, learning to flip in bostons, networking for success, Prosper in 2013, real estate mentor contest, real estate mentorship contest, real estate networking, real estate social media, rehab tour, trusted advisor, www.bostonareia.com

Boston AREIA Diary of a Newbie Real Estate Investor

March 31, 2014 by bostonareia 1 Comment

mike and jacquiDiary of a Newbie Real Estate Investor

with Mike Fitzpatrick and Jacqui Pietrzak

Since our last post Jacqui and I have been working closely with Peg and Bernadette to put together a plan for accomplishing our $50k profit rehab goal. Our focus right now is finding a property to buy. Recently we have been spending our time driving for dollars and meeting with local realtors to explain our goals.

If you have never tried driving for dollars, I think it’s fair to say your first time is going to feel awkward. It is hard to look normal when you are circling a neighborhood, slowing traffic and wondering if you look like kidnappers. Essentially our plan was to pull up to a distressed looking property, run out with our “we want to buy your house” flyer, wedge it in the door, then run back to the car as quickly as possible and drive off avoiding any human contact.

Realizing it is less creepy if we actually get out and speak to people, our second attempt went much better. Now that the weather is getting nice, something we are more comfortable with is “running for dollars”. We take our dog with us on the run as this makes us feel more “normal” and offsets the fact that we have a pocket full of flyers and a notepad to write down addresses.  People are willing to give you more information when you look like another neighbor walking around.

Time will tell if we end up with any leads, but it certainly was a good way to become more familiar with the neighborhoods in our area. Through some of these conversations we learned about other houses that were already being rehabbed. At first the thought of another rehabber in my target neighborhood was a bummer to us because we felt someone else beat us to the deal. But we are currently trying to get in touch with these other investors so we can learn from them and see if we could work together in the future.

We have also started setting up meetings with brokers in the metro-west area that are interested in working with us to find rehab and multi-family buy and hold deals. Anything within a 20-30 minute radius of Framingham is what we are looking at. If you are interested in working with us please drop us a message at mike@fitzproperty.com or jacqui@fitzproperty.com and we can set up some time to talk.

In the next couple weeks we are planning on launching our company website and first direct mail campaign. We are trying to narrow down our favorite logos for our company, stay tuned for a voting poll in our next blog post!

Mike & Jacqui

Filed Under: Uncategorized Tagged With: 12/31/2012 deadline for gift tax, an advisor you can trust, boston, Boston Area real estate investors, boston area real estate investors association, boston areia, Boston Commercial Real Estate, Boston Marathon, Commerical Real Estate in Boston, diary of a newbie real estate investor, driving for dollars, learning to flip in bostons, real estate club, real estate mentorship, real estate mentorship contest, rehab tour, rehabbing in Boston, trusted advisor, www.bostonareia.com

Benefits for Boston Flippers and more

March 28, 2014 by bostonareia Leave a Comment

Bernadette Trafton, Chief Connector Did you know as a member of Boston AREIA you have access to a number of discounts to help you as you flip properties in Boston!  Oh…and remember, be sure to check out our How To’s Tips and Tricks for Real Estate Investing!

1.       You have access to discounts on materials, tool rentals, appliances, tenant screening, insurance, signage, office supplies, car rental, airfare and much more.  Check it out:

  • AAPLDi
  • ADP
  • Build-A-Sign
  • Community Investor
  • CheapOair
  • ClearNow
  • CreditSense
  • FedEx
  • Headsets.com
  • Hertz
  • Investor Protector Plan
  • Junk-King
  • Kwikset
  • Lowe’s ProServices
  • Mr. Landlord
  • National Vendor Management Services
  • NREIG
  • OdorXit
  • OfficeDepotMax
  • Performance Settlement
  • RentFax
  • Rent Fast
  • Rent Manager Software
  • Sears Commercial
  • Sherwin Williams
  • SimpliSafe
  • Sunbelt Rentals
  • Tattle Tale
  • Tenant Credit Checks
  • Titan Environmental
  • US Credit Repair Center
  • US Legal Forms
  • 4Imprint
– See more at: http://www.communitybuyinggroup.com/suppliers.html#sthash.LdOociKW.dpuf

2.       You will have access to our Community Investor magazine 3.       You gain visibility for your business and find trusted industry related contractors in your community To see all of the information about this program, visit www.communitybuyinggroup.com If you are a member of Boston AREIA, you will have received a member packet with the group code.  If you don’t have your packet any longer, please email me at dette101@gmail.com to request the code. If you are not a member, but, and want to take advantage of the member benefits, become a member today!  Make sure that you stay tuned for our upcoming blog post Diary of a Newbie Real Estate Investor with our new mentee Mike Fitzpatrick!  And, see you at our June 19th meeting focused on 1031 Exchanges and much more! As always, feel free to reach out in between meetings, we are here to help you get your deals done!

Filed Under: Uncategorized Tagged With: 12/31/2012 deadline for gift tax, an advisor you can trust, boston, Boston Area real estate investors, boston area real estate investors association, boston Real estate, real estate education, real estate mentorship, real estate mentorship contest, real estate networking, trusted advisor, www.bostonareia.com

What to expect on March 20th at Boston AREIA

March 19, 2014 by bostonareia Leave a Comment

Bernadette Trafton, Chief ConnectorWe are having a blast mentoring Mike Fitzpatrick.  He’s working with his partner Jacqui Pietrzak, look for their next blog post.  They’ve been driving for dollars, working on their website, putting together their first direct mail marketing campaign and presenting potential deals to Peg and I.  Super proud of them!  I’m watching a power couple develop!  WOHOO!

It’s the LAST day to get eligible for this month’s workshop at 5pm.  I will be downloading real estate leads from a few lead sources and giving them to the folks who come to the session.  I need to know now who is coming at 5pm.  If you don’t qualify by midnight tonight, you won’t be able to join us at 5pm before the monthly meeting!  Find out if you are eligible!

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Most of you have said that you are interested in saving money on your electric bill and going green. Some of you have switched to Viridian, many of you have not.  All of you raise your hand when I ask if you recycle, most of you agree if you had the ability to make 10 times the carbon impact without it costing you, you would.  I know time gets away from you and you forget.  I get it.  We have invited Reps to help you with the 3 minute process it takes to make the switch on Thursday night – BRING YOUR N-Star or National Grid bills with you.  It costs you nothing, takes 3 minutes, can save you money over time and you choose green.  All who take action will get a special opportunity during our “forced networking” segment.

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Thursday, March 20, 2014 – Is fear of making an offer holding you back?

***Special opportuniy to for MEMBERS of Boston AREIA, we are shaking up our forced networking section…those who get there early will be rewarded!

Monthly Meeting – The question I get most from investors is, “Ok…so, I find a property…how do I make sure all the bases are covering when making an offer and putting together a P&S?” Well this meeting will dispel the fears that are holding you back from making offers!   For all details visit – http://bostonareia.com/resources/upcoming-events/

Become a member today – http://bostonareia.com/about-us/membership-plans/

Filed Under: Uncategorized Tagged With: 12/31/2012 deadline for gift tax, an advisor you can trust, boston, Boston Area real estate investors, boston area real estate investors association, boston areia, Boston Commercial Real Estate, Boston Marathon, FLIPPING IN BOSTON, real estate mentoring program, real estate mentorship, real estate networking, The meaning of fear, trusted advisor, unsecured loans, www.bostonareia.com

Dreams of flipping houses for income?

February 11, 2014 by bostonareia Leave a Comment

Bernadette Trafton, Chief ConnectorDo you have dreams of flipping houses and riding off into the sunset with a bank full of cash?  Many people have that same goal.  Then they start doing the research on what to do and how to do it.  They inundate themselves with education and read everything that everyone has ever written on the subject of flipping houses.  A few, I mean maybe 5 percent actually take action on some of the things they learn.  A few of them are successful, a few of them find themselves in a situation that leaves them over their head.  The ones who don’t take action are paralyzed by the fear of doing something wrong and ending up like the ones that are in over their head.  They’ve got families that are counting on them, they can’t get in over their head.  And, there is so many methods and areas of real estate out there.  What way do they turn?  Who do they listen to?  What is their best tool to get into the game?

Well….every guru out there will tell you to come to your local real estate investors association to network with people who are actually doing things, know the local laws and will be willing to partner with you on deals.  A seasoned investor won’t partner with you on a deal if there is an opportunity to get in too far over their head.  They don’t get emotional about properties.  They don’t do deals just because.  They run the numbers and if the numbers make sense, then they go for it.  So, the gurus are right, groups like Boston AREIA are the best place for you to go to network and meet these investors, get the education and develop the relationships you need to be successful.

Boston AREIA is taking things a step further.  We are running a mentorship contest.  Unlike the gurus programs, there won’t be a charge for this mentorship.  It’s all about on the job training and learning from local experts.  READ ABOUT THE MENTORSHIP CONTEST HERE! 

We also have local real estate expert Peg Graveline and her team at JEM Property Group coming in and doing a 20-30 minute talk on flipping and rehabbing every month.  The team is also very open to partnering with newer investors to make sure they are successful in their endeavors.  Make sure you get to the upcoming meeting on the 20th! 

Yours in success!

Bernadette Trafton, Boston AREIA Chief Connector

 

Filed Under: Uncategorized Tagged With: 12/31/2012 deadline for gift tax, an advisor you can trust, boston, boston area real estate investors association, Boston Commercial Real Estate, commercial real estate, flipping properties, MA Shortsales, real estate mentorship, real estate social media, trusted advisor, www.bostonareia.com

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