Archives

Waltham, MA

Tues., October 17, 2017

(This meeting was cancelled and will be rescheduled)

Massachusetts Tax Liens: Part 1 - The Legal Process

Sounds simple, right?  Buy a tax lien, and sit back and collect 16% interest!  Investing in tax liens is an area of real estate investing considered to be “passive” by comparison to rehabbing or rental properties, but it can be much more involved than we realize.  And the returns can be variable.  Do you always get the interest?  Can you foreclose on the property?  Do you then have clear title if you do?

Todd Rodman is a managing partner at Seder and Chandler, with a significant portion of his practice focused on tax lien law.  He has over 30 years of experience in real estate law with a wide variety of clients.

You will learn:

    The difference between purchasing a tax lien v. the actual real estate    

    A summary of the real estate tax collection process in Massachusetts – yes, you have to understand this stuff!

    Sales and Assignments of Municipal Tax Liens by Auction – where the action is!

    The Auction Process – including premiums

    Redemption of Property purchased through the lien process

Part 2 of this series will be presented at a later date, and will include what happens in real life in tax lien investing:   “The rest of the story”, and some “War stories” from the trenches.  We’ll also have some input on out-of-state tax lien investing:  Do you think 36% interest on your money sounds good?  Stay tuned ...

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Worcester, MA

Tuesday, Sept 17, 2017

Eviction Rates:  Highest and lowest towns in MA, and what it costs you


When you choose a property to buy, do you consider the likelihood of eviction, and the cost you will incur?  Do you seek out those war zone areas because there is more opportunity?  Or do you run the other way? 

Xavier de Gracia (Harvard Business School MBA Class of 2017) and Antonio Munoz (Wharton Business School MBA Class of 2017), have been researching Massachusetts eviction data, pulling 80,000 records from the court system as they develop a business plan for their new venture Lock.In.  They have analyzed the data, and will give us some valuable insight into how it really breaks down.  Inessa Shur, of Shur Law Group, will look at risk mitigation and how you can minimize those costs by proper preparation.

You will hear:

·       The source of their data and why that matters

·       MA eviction rates, including best and worst zip codes

·       A deep dive into analysis of four popular cities in MA with large numbers of rentals

·       The time factor:  how long it REALLY takes to evict a tenant

·       Key factors in minimizing both your evictions and the duration of the process

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Waltham, MA
Tuesday Aug 15, 2017

Wholesaling is Easy, Right?  Except when ...

 

All the real estate gurus teach newbie investors that they should start with wholesaling houses.  Why?  Because it takes no cash and no credit.  So it must be a way to make quick cash to build up for your rehabbing or buy-and-hold business, right?  They make it sound easy peasy, so they can sell you their bootcamp, class, or mastermind  course.  The reality is far different, in fact it is much harder than rehabbing.  And I can’t tell you how many times I’ve heard the statement “I’m going to start with wholesaling and build up some quick cash…”  And then they fall off the planet and vanish, because they are unprepared for the reality.

Nick Aalerud and Rob Reutzel are successful wholesalers and rehabbers who have been around the block and are ready to discuss some of the perceptions, pitfalls and preparations involved in wholesaling real estate. 

You will hear:

  • ·       Public perceptions of wholesaling and how to deal with it
  • ·       Most frequent mistakes made by wholesalers
  • ·       Institutional (read as bank) restrictions on wholesaling
  • ·       Discussion of “If I can’t buy your house from you, I’ll list it for you.”
  • ·       Licensees vs non-licensees
  • ·       Disclosure as a licensee vs “Buyer Beware” on a commercial transaction 
Be sure to bring examples of the challenges that you have experienced with regard to wholesaling and experienced investors, plase be ready to jump in and discuss your experiences as well.

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Worcester, MA
Tuesday July 18, 2017
  

Best Practices: Here's Your
Chance to Ask it All!

"I wish I knew someone who is knowledgeable about < fill in the blank > so I could ask them about ..." This happens to all of us. We have questions and don't know the right person to ask. Or, we thought we did, but it turns out that we need even more information.

We’ve assembled a group of local experts (I hate the term expert, because there is always someone who knows more) who are knowledgeable on a variety of topics. Each one will moderate a roundtable for that topic, and you can ask each moderator any questions you like. There may be more than one moderator on a given topic, so you get a twofer!  If they don’t know what you need to know, they probably have a connection who can. 

You may jump around from table to table, or hang out at one or two. If you are new,
here is your chance. If you are experienced, we may need your expertise, so please show up and help us out. You might
even pick up a few new customers!

Some of our topics will include:

  • Rehabbing & Flipping
  • Marketing & Wholesaling
  • Short Sales
  • Larger Deals & Multi-Family Properties
  • Hard Money & Conventional Financing
  • Property Management
  • Real Estate Law
  • Insurance
  • 1031 Exchanges

If you have additional topics you’d like to have us add, please let us know. 

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Tues., June 20, 2017

 
Think Flipping Houses is Sexy? Wait 'til You Hear About Cap Rates!

"Cap rates are a better indicator of performance than an estimator of value." Ok, let's think about that for a sec. If true, it means that half of what we think we understand about cap rates is probably wrong, or maybe just a guess. I mean, don't you just take your NOI, apply the cap rate, and poof! Instant value? No? Well explain, please.

Steve McGovern is a Founding Manager of Merrimack-Atlantic Property Group, and consults with individual investors and large corporations on site development. He is going to delve into this concept and explore some of the nuances of cap rates and asset valuations, making something that is an ever-moving target into a comprehensible tool.

You will hear:
  • The three types of appraisals and why each 
  • How the 
    intended use of the property affects the rate
  • How condition plays into the equation
  • The impact of overall market conditions.

As always, the presentation is interactive with plenty of time for questions. Bring your friends and plan on dinner and drinks. For those of you who are new to the world of commercial investing, here are some links to brush up on cap rates:



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Worcester, MA
Tuesday May 16, 2017


When the Commonwealth of MA has your back – Who Knew?


Looking for an additional source of funding for complex commercial projects? Mass Development can help you with a range of housing projects, from historic tax credits to affordable housing programs. This little known state-funded agency provides loans, brownfields funding, guarantees, and grants, as well as technical assistance in the planning process.

Roy Angel joined the agency in 1998 and opened the first Mass Development Finance Agency. His background includes Acting Regional Director at the Massachusetts Office of Business Development, fifteen years as a commercial banker, and an MBA from Bently.

You will hear:
  • A general overview of Mass Development; who they are and what they do
  • A quick synopsis of other public and quasi-public agencies that are involved with housing finance in Massachusetts
  • About Mass Development Finance Programs and how they relate to creating and developing housing units in MA, including tools and resources for developers
  • Some examples of housing projects financed by Mass Development in Worcester and Central MA
  • About five takeaways 
  • A lot of Q & As with a focus on what Mass Development can do to help improve the housing market. This is the time to speak up!


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Tuesday April 18, 2017 - Waltham, MA

Staging to Price Point and the Target Buyer

High end city houses that appeal to today's buyer look quite different from starter homes in the 'burbs. And what about that mid-level home? Maximizing your sale price while minimizing your costs is what it's all about, and staging to the right level is a large part of that. 

Brenda Douglas of Staged Works has been working with investors in MA and NH to create the look that makes the house fly off the shelf, while not breaking the bank. She'll share some tips to help you tailor our staging to the price point of the property and the target buyer.

You will hear:
  • Examples of fixtures appropriate to starter, mid level and high-end homes
  • The financial results of staging vs. not staging
  • Whether it pays to stage a house that has been stagnating on the market
  • Solutions to specific problems, such as whether to  paint tile, and enhancing old period details, such as black and white tile
  • Quality Construction vs. Cheap 'n Pretty; staging for each
And lots of Q&A to help you get your properties sold quickly.

You may order drinks and dinner at the venue, before, during and after the event. Parking, out back, after 5pm is free. Cash bar and food available in the meeting room, you can order dinner and drinks, so come early and stay late!


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Tuesday March 21, 2017 - Worcester, MA

Mortgage Messes and How to Fix Them

You contract for a property and find out there are title issues.  Yet again.  It seems like every time you get an offer accepted, there is a delay for one title problem or another.  Some are deal-killers, some are easy fixes.  Some drag on past the time that makes the project viable.

Wouldn’t it be nice if you could tell which was which? And not waste time on a deal that will never happen?  This time you get a twofer:  Meghan Grugnale of Grugnale Law and Julie McNeill of All Land Law are in the thick of it, and together they will help us understand some of the different issues and the degree of difficulty to fix.  

You will hear about:
  • Forclosure auction snafus
  • Common issues with REOs
  • Online auction challenges, and how they differ from a foreclosure auction ... think Hubzu, Auction.com, Altisource, etc.
  • Previsouls undischarged (but paid off) mortgages and how to fix them
  • How to understand IRS Liens
  • Medicare Liens
  • And lots of Q&A!
Know that you will get to pick the brains of two very experienced real estate attorneys, so don’t miss this chance!  Bring your questions.

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Tuesday February 21, 2017 - Waltham, MA

 Best Assurances on Winning Your Eviction Case

Do you know which TYPE of eviction will get the tenant out the fastest? How about the provisions in your lease that will NEVER hold up in court, no matter how iron clad your wording is?

Inessa Shur, of Shur Law Group, LLC exclusively works representing landlords and property managers in all areas of the challenging landlor-tenant laws, and will share some tips and tricks for navigating the court systems. This is an encore presentation, she spoke at our Worcester event and was a huge hit!

You will hear:

  • Pros and Cons of Leases vs Tenancy at Will
  • 5 Most Important provisions in a lease
  • Tenant Selection - how to vet a tenant properly
  • The two statutory requirements for landlords that you can’t overcome in your lease, and what happens if you violate them
  • The 4 types of evictions, and the relative speed to “gone” of each one
  • Courthouse & Eviction “tips and tricks” - things you may not think of that will help!

And of course, our favorite horror stories, and what happens when you don’t do it correctly:

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Tuesday, January 17, 2017 – Worcester, MA


MEETING TONIGHT (Jan 17)
IS CANCELED DUE TO

IMPENDING WEATHER CONDITIONS

Please check back to see when this presentation is rescheduled.
(this presentation is scheduled to be held in Worcester during the May meeting)

Next Meeting - Worcester, MA
Tuesday January 17, 2017 - Worcester, MA


Saving Time & Saving Money: Property Management Software Review

If you are like most of us, you use some form of software to manage your rentals.  It could be anything from a

simple Excel spreadsheet to a complex feature-rich package.  How do you know if it’s a good solution for your needs?  And what happens as you grow?  Will you soon outgrow your current system?

Daniel has spent significant time reviewing various types of software to make his property management life easier.  He’ll be sharing the results of his research along with his conclusions, and his discussions with other users.    He will highlight some of the differences and how they might apply to various companies and users.

You will hear:

–  Several software solutions and how they meet the

    needs of different types of companies

–  The trade-off of ease of use vs. complexity

–  The differences you should consider for

    landlord/owners vs. property managers for others

–  In-operability with other software you use, such as

    • Marketing

    • Accounting

    • Tenant Screening

    • And More!

–  Pros and cons of PC-based vs. Cloud-based solutions

–  How they handle multiple users, both simultaneously or now.

Please bring your experiences and recommendations to share with the group because, as always, the presentation is interactive. Questions are encouraged!





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Tuesday, December 13, 2016 – Waltham, MA


Tuesday, December 13th (SECOND Tues.) – Waltham, MA

Holiday Networking Event with Networking After Hours

What the heck is "SurvivorOpoly" anyway?

A cross between Monopoly and Survivor, this game is a Black Diamond original. No rehab skills needed to compete for the highest profit deal:  just bring your luck and sense of fun to win you that top prize! 

What do you need to do to play?

1.  Show up

2.  Grab a “deal” from the deals we supply

3.  Add the 4 numbers of the “deal” and wait for your “deal” to be called

4.  Draw a “game changer” out of a bowl and add or subtract that number from your “deal” to see if it makes your deal a winner!

Play for fun and prizes, we're giving away $100 and $50 gift certificates to Best Buy or Home Depot.  Who can't use those? 

Or, if you don't want to play, but just want to network, we have plenty of time for that, and the cash bar will be open! Join us for dinner, drinks, or both. You can order both drinks and food in the meeting room!

Who: All are welcome, free to attend

What: The best real estate investing networking in Massachusetts, with the highest percentage of seasoned investors.  No selling speakers, no memberships, no meeting fees, no multi-level marketing

Where:  Garcia Brogan’s, 240 Moody St, Waltham, Ma

When:  Tuesday December 13, 2016, Networking 6PM, Program starts 6:30PM  Second Tuesday


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Tuesday, November 15, 2016 – Waltham, MA


Self-Directed IRAs and
Checkbook IRAs: How to color
inside the lines, and the horror
stories from when you don't


W
e've all heard presentations on the wonders of self directed IRAs. And in fact they can be exactly that. And  if your IRA owns an LLC, you can create what is called  a Checkbook IRA. But what if you fudge
the rules? How strict is the IRS about them anyway? Are prohibited transactions really a problem?

John Hyre is an accountant, a real estate attorney, a

self-directed IRA expert, and a real estate investor
himself. If you heard him speak at Black Diamond last
time, you know he's also opinionated, political, vocal, and not shy. His presentations on taxes and keeping more of what you earn are liberally sprinkled with commentary on our tax system, our government and entitlements. You will be educated, amused, entertained and possibly infuriated, but never bored! Here are some of the points he will cover:
  • Dos and Don'ts for Checkbook IRAs

  • Prohibited transactions and how to steer clear of them
  • How to deal with an audit:
    • What to do when you get that letter, and  what NOT to do  
    • The nightmare that ensues when the IRS decides you have engaged in one of those "prohibited transactions," aka, Horrific Case Studies
  • Lots of Q&As

September Tuesday, October 18, 2016 – Worcester, MA


Encore Presentation:
The top 5 contractor disputes and how to nip them in the bud


Ever had a contractor walk off the job, no-show, or just plain do a lousy job?  What happens when he slaps a lien on your property, even if you don’t owe him a dime?  At the very best, working with contractors is a huge challenge.

Andrea Goldman, Esq of Goldman Law Group specializes in contractor disputes and will walk us through some of the best tips on working with them, so you don’t lose your shirt, or your sanity. 

You will hear:

  • Iron Clad Contractor Agreement & Clauses
  • Mechanics Liens - how they work and what you can do
  • Review the top 5 Contractor Disputes, and How to Nip them in the Bud (--> Change Orders, Warranties, Hidden Defects, Payment Schedules, Authorized Parties to Speak on Owner / Contractor's Behalf)
  • Tips on How to ensure a successful project - payment schedules, communication, Change Order Procedures, Fixed Price Vs Time & Materials, Grounds for Termination 


Tuesday September 20, 2016 - Waltham, MA

Million Dollar Opportunities in Entering New Markets

Have you considered buying out of the area?  Flipping long distance?  Or just considering moving but don’t know how to uproot or expand your business?  This presentation will explore some of the challenges encountered when entering a new market with a case study of a million dollar rehab in South Florida.

Julio E Vega is a co-founder of White Picket Fence, LLC and has successfully rehabbed over 50 distressed properties in the the Metro West area, developing his own systems along the way.  He has over 15 years of experience in Construction and Construction Management in Latin America and US, with an MBA from Babson College and a BS in Civil Engineering.

You will hear:
  • How to find the most lucrative deals via land, sea and air by driving, boating, and flying by drone!
  • Making a “splash”:  how to break into a new market
  • Researching new markets before you “dive in”
  • Code compliance and the permitting process
  • Assembling your new team:  what to look for and who to hire



Tuesday August 16, 2016 - Worcester, MA
5 Ways to Boost Profits with Out of the Box Value-Add


We all know that rehabbing a distressed house is “Value-Add”, and don’t we all love to see the Before and After shots of a successful renovation? But for a real estate investor, that’s the obvious choice. 

There are always more ways to add value (and increase equity or profit) that are not immediately apparent, so we’re going to touch on a few for both flips and buy and hold. 

You will hear:
  • Whether a 200% return on an increase in rehab costs was worth the risk
  • Converting a 2 bedroom unit to a 4 bedroom unit by spending $600
  • How cluster zoning can be used to reduce costs and increase profits
  • When leveraging can add value
  • When sub-metering is allowed and how it changes tenant behavior
  • And more strategies being used in today’s market.


Tuesday July 19, 2016 - Waltham, MA
Short Sales are hot again! And here is how to maximize your profit 



Because we know how much you love sitting on the phone with banks on “Ignore” and sending the same package in to the same servicing company over and over, (NOT!) we have put together some tips on how to maximize your short sale approvals and extract the most profit. 

Maryann Little has been successfully negotiating short sales since 2009 and has successfully negotiated hundreds of them with a 98% success rate.  She knows it inside out and will show you how to best use your time and energy.  Can you imagine it’s not sitting on the phone?

You will hear:

  • How to effectively prep for the valuation:  The most important part!
  • When to negotiate it yourself (see first paragraph above)
  • What to do when the bank counters
  • How long it should take
  • How to wholesale a short sale
  • What about deed restrictions?

Join us for an interactive discussion and the deals everyone loves to hate, and you’ll be able to order drinks and dinner while you’re there.




Tuesday June 21, 2016 - Worcester, MA

From Frenzy to Formality:  Systemizing your business


Are you constantly playing catch up in your business?  Do you feel as if you are always reacting to the latest crisis instead of proactively growing?  Is it almost incomprehensible that you could possibly take on any more deals/projects/properties?

Newton Kershaw began his real estate investing career in 2009 with partner Dave Schleyer after years in investment banking and commercial real estate brokerage.  He and Dave soon found the need to systemize the business to facilitate their growth, and Newton will discuss the growing pains that many of us face today in our real estate investing, and the solutions that they implemented that fostered the the development of their business to what is it today.

You will hear:

  • The complimentary skills provided by the partners and other team members 
  • Strategic partnerships and how they contribute to growth 
  • How and when to implement policies and procedures 
  • Building the team effectively, both employees and contractors 
  • How they accommodated huge jumps in workload capacity when taking on new acquisitions
  • Early lessons learned, and the mistakes they made
  • How to hire and fire, and most importantly, when!

This is NOT a discussion of how to be a landlord, although Elm Grove certainly manages many units, but rather a discussion of planning and implementing a successful strategy for growing your real estate business (or any other business, for that matter.)                                                                                                               




Tuesday May 17, 2016
 - Waltham, MA
Did your first flip make almost $100K

Think back to your first deal:  was it killer, or did it almost kill you?  (Remember, “What doesn’t kill you makes you stronger”  ♪♪♫)  Anyway, some of us made major missteps, some squeaked 
through, and a few us of made a profit.  But very few make almost $100K on their first deal.

Jack Sarcia used his college fund on a 3 unit when he was19, and quit his high paying job to focus on real estate. He teamed

up with his cousin Jay, a broker and contractor, to make his first flip happen. Jack definitely had a leg up, but it all starts with finding the deal.

When they go through this case study, you will hear:

  • How Jack found this killer deal
  • Initial analysis of the deal with expected profit
  • Before and after photos
  • The unexpected in a hoarder house
  • What they chose to under-rehab and whether it back-fired
  • How they maximized the profit
  • Market conditions in the neighborhood
  • Final breakdown
You’ll never look at a Gatorade bottle the same way.  
          

Tuesday April 19 2016 - Worcester, MA

The Cardinal Sin: Overpaying your taxes and overlooking deductions

Did you know that you may have overlooked huge deductions on your rental properties? And that even very experienced real estate 
professionals sometimes miss these too? Since 2004, the IRS has allowed real estate owners to depreciate parts of their building more quickly than the standard 39 or 27.5 year schedule. This can produce tremendous savings on your tax bill and increase your cash flow. 


Jeff Hiatt founded Performance Business Solutions in 1994 and since then has worked with property owners, CPAs, real estate attorneys and brokers to help clients reduce income tax on real estate through Cost Segregation Studies. He has directly participated in over 8,000 studies, creating billions in tax deferrals for his clients. 

You will learn: 
  • How to increase your depreciation deduction significantly without creating an audit risk 
  • When you can write off a new kitchen in a unit in as little as 5 years 2 years! 
  • What produces a 5 to 1 return on your investment 
  • How to get an immediate write off of 50% of improvements 
  • The benefit of a cost segregation analysis on both today’s taxes and future returns 
  • How you can do all this retroactive to 2004 without amending any prior returns! 
Tuesday March 15, 2016 - Waltham, MA
“Great Real Estate Ponzi Scheme”...the government scam
The federal government passes legislation and creates a crisis, then uses your tax dollars “solve” the problem. Sound like a scam to you? They’re at it again, doing much of the same thing. Do you have any idea where the real estate market is headed or how housing policy affects your real estate investment business? We’ll explain why you should care – it’s your money.

John Agostinelli and Chris Michaud have been in real estate and allied businesses for more than 50 years combined. Their experience includes banking, lending, working at the FDIC, land development, spec home building, flipping and selling hundreds of REO properties. They’ve written about their knowledge and research on the real estate markets and what is currently driving them. 

You will learn:

  • The true causes of the last bubble and why it is important to you
  • How Government Housing policy and the Federal Reserve
     create volatility in the real estate market and how this creates opportunities
  • The Sham of the Dodd Frank Act (DFA) and how it
  • will not prevent the next bubble
  • The true intent of the Consumer Protection Financial Bureau (CFPB)
  • About TARP and other government bailouts which help your business
  • How this all combines to help predict what will happen to the real estate markets in the near term!


Tuesday February 16, 2016 - Worcester MA

Best Assurances on Winning Your Eviction Case


Do you know which TYPE of eviction will get the tenant out the fastest? How about the provisions in your lease that will NEVER hold up in court, no matter how iron clad your wording is? 


Inessa Shur of Shur Law Group, LLC exclusively works representing landlords and property managers in all areas of the challenging landlord-tenant laws, and will share some tips and tricks for navigating the court systems. 



You will hear: 
  • Pros and Cons of Leases vs Tenancy at Will 
  • 5 Most Important provisions in a lease 
  • Tenant Selection – how to vet a tenant properly 
  • The two statutory requirements for landlords that you can’t overcome in your lease, and what happens if you violate them
  • The 4 types of evictions, and the relative speed to
    “gone” of each one
  • Courthouse & Eviction “tips and tricks” – things you may not think of that will help! 

And of course, our favorite horror stories, and what happens when you don’t do it correctly.

Tuesday January 19, 2016 - Waltham, MA

The top 5 contractor disputes, 
and how to nip them in the bud


Ever had a contractor walk off the job, no-show, or just plain do a lousy job? What happens when he slaps a lien on your property, even if you don’t owe him a dime? At the very best, working with contractors is a huge challenge. 

Andrea Goldman, Esq of Goldman Law Group specializes in contractor disputes and will walk us through some of the best tips on working with them, so you don’t lose your shirt, or your sanity. 

You will hear: 
  • Iron Clad Contractor Agreement & Clauses 
  • Mechanics Liens - how they work and what you can do 
  • Review the top 5 Contractor Disputes, and How
     to Nip them in the Bud (--> Change Orders, Warranties, Hidden Defects, Payment Schedules, Authorized Parties to Speak on Owner / Contractor's Behalf) 
  • Tips on How to ensure a successful project - payment schedules, communication, Change Order Procedures, Fixed Price Vs Time & Materials, Grounds for Termination





Tuesday November 17, 2015 - Waltham, MA 

Modular Building: 
What’s the real scoop?  Does it really save you money?

Have you wondered if buying a modular home can really save you the big bucks they claim? Does it go just as slick as slick can be, or is it really one big headache? And what about public perception of quality?

Nick Aalerud is a modular home dealer and a developer who built a Tyngsboro colonial as an investor, and was his own dealer in the purchase. So he knows the process from both sides and will talk about the pros and cons.

You will hear:
  • If you can really save 30-40% over stick built
  • What the rough costs are for stick built vs modular
  • What the pros are for this process, and more importantly, the CONS!
  • How modular does under the HERS regulations – and what the differences are in the process
  • How to choose a manufacturer
  • What to expect from the dealer
  • Where to find a set crew and crane
  • If there is a negative impact on ARV due to public perception




Tuesday October 20, 2015 - Worcester, MA

ARV Busters:  Can you quantify the “apologies”?

We’ve all seen conditions at a property that hurt its value:  Railroad tracks, steep driveways, busy roads, etc.  And we’ve all mentally discounted the property by some amount that we hope is enough.  And most of us, if we’re honest, have been tripped up by one or two of them. 

At this event we will discuss some of the more common “Apologies” and how to put a number or a percentage to each.  Audience participation with real world examples will be encouraged, and we will draw up a list with the conclusions and ranges at the end of the evening.  We will also address how these factors impact rents, if at all.

Here are a few examples to get you thinking:

  • Commercial adjacent to property
  • Busy street / numbered route
  • Power Lines / transformers
  • Wet basements
  • Swimming pools
  • Ugly neighbors
  • Sewer plants (does anyone specialize in sewer plants?)
  • Steep / Long / Shared Driveways or a house downhill from the road

So bring your experiences or your curiosity, and join us for a highly interactive meeting with plenty of discussion and case studies.



Tuesday September 15, 2015 - Waltham, MA

When your architect is worth his weight in gold

Have you ever contemplated a project that was a toss up 
between a tear-down and and rehab? Or one that you thought adding a second level would be the way to go? Did you wonder if this was one of those times that "you don't know what you don't know"? 

Graham Ruggie is the owner and principal architect of Janez Design, and earned a Master of Architecture degree from the Boston Architectural College, and a degree in management from Boston University. 

You will hear: 

  • When an architect can actually save you money, and when it doesn't make sense to engage 
  • Stock plans from the internet: Pros and cons 
  • Determining when you need an architect vs a structural engineer 
  • Unique challenges of multi-family of 3+ and mixed use vs 1-2 family properties 
  • Case studies including 
    • a gut renovation of a Lexington Cape converting to a Colonial 
    • unique houses with wetlands and terrain considerations 
    • a 4 unit mixed use requiring existing conditions assessment and impact to the code requirements 

Garcia Brogan's 
240 Moody St, Waltham, MA

Tuesday September 15, 2015
6 PM Networking
6:30 PM Program

Tuesday June 23, 2015 - Waltham, MA

Scratch ‘ Sniff: When your eyes fill up and your wallet empties


Mold and asbestos: You’re rehabbing a house or multifamily building, and the contractor demos the walls and ceilings. You find they are unexpectedly full of mold. The next day the contractor and his crew are sick. Are you liable? And you then find those roof leaks had been going on for a LONG time, and all the walls are black inside. Do you have to tear down the whole house? And how do you know?

Are you aware of the new regulation in MA that requires ALL renovations to have an asbestos survey? 

John Bachand is a Massachusetts attorney certified by the MA Superior Court as an expert in the law and science of asbestos. He has consulted on asbestos for 21 years in both MA and NH. 

You will learn: 
  • Your liability in the cases of severe mold and significant asbestos, both as a rehabber and as a landlord 
  • How to manage insurance claims for asbestos 
  • When you should test, and when you shouldn’t 
  • How to keep the testing and remediation separate to insure accountability and give credence to the results 
  • When the wealthy landlord assumes the financial burden (you’re all wealthy, right?) 
  • Understanding how to avoid surprises – ka ching! 

Tuesday June 23, 2015 - Waltham, MA

    The Politically-Incorrect Guide to Tax Planning for Investors:            Entertaining and informative


Most presentations on tax planning for your real estate investments are dry as dust. Important? Yes. Need to know? Yes. Exciting? Hardly. And if numbers aren't your thing, you'll do anything to avoid listening to a lecture on taxes. Cleaning your dryer vent might be more fun. 

But not this time! John Hyre is a CPA, a real estate attorney, a self-directed IRA expert, and a real estate investor himself. He's also opinionated, political, vocal, and not shy. His presentations on taxes and keeping more of what you earn are liberally sprinkled with commentary on our tax system, our government and entitlements. You will be educated, amused, entertained and possibly infuriated, but never bored!

Here are some of the points he will cover:
  • Accelerated Depreciation - turning 27 year depreciation into 5 

  • Bookkeeping & Tracking: Why it's critical and how to make it easier

  • How to deal with an audit: What do do when you get that letter, and what NOT to do

  • The IRS Fighters: The inside scoop on national "pay pennies on the dollar" tax debt relief firms

  • The new rules for repair expense vs capitalization to be depreciated slowly 

  • Lots of Q&A 
  • This is the new form 3115 causing so much confusion, expense and heartache
  • Includes the Safe Harbor and the BAR rules

Tuesday May 26, 2015 - Waltham, MA


Condo Conversions:  Do the numbers work?

During the peak of the real estate market in 2005/6, condo conversions were sizzling hot.  Then, when the bottom fell out in the real estate crash, almost no one would touch them.  Why create more units when you couldn’t sell the ones you had?  Now, with the marketing heating up again, especially this spring, we’re profiling two case studies of current condo conversions.  

14 Farquhar St, Roslindale:  This 3 unit was converted to 2 three-bedroom units and a 3rd 2 level 4 bedroom unit, with sophisticated touches such as Nest thermostats.  Each unit went under agreement within about a week after it hit the market.

 

21 Emerton St, Salem, MA: this 2 unit in Salem is currently under construction, and Salem has it’s own set of challenges with it’s very narrow streets and a few other interesting quirks.

Join us as White Picket Fence and AA Real Estate review the ups and downs on both projects, look at some numbers analysis and discuss their approach,  with plenty of time for questions and discussion.  





Tuesday May 19, 2015
 - Worcester, MA


The Street Fighter's Guide to Zoning Issues

  

Are you thinking of adding units to your multi-family property, modifying the floor plan or footprint, or converting a single to a multi? Are you working in commercial real estate, (or thinking about it) and have come across the dreaded "Zoning Variance"?

 

Todd Rodman is an MIT graduate with an MS in Real Estate Finance and Development and his law degree from American University. He has practiced law in multiple states and was Chairman of the Mayor of Worcester's Ad Hoc Zoning Committee and is a current member of the Mayor of Worcester's Brownfield's Committee.

 

You will learn:

  • Special districts such as the Canal District and other commercial corridors in Worcester andspecial conditions in those areas
  • Dealing with the building inspector on Zoning issues
  • Resources available to developers and redevelopers in every community
  • The most common problem:  Alterations of non-conforming buildings
  • When to go for a special permit instead of a zoning variance, they are both easier to get and held to a higher standard to overturn
  • Some tips on the easiest (and cheapest) way to get to your end result

Todd works with these issues every day in his law practice, and will bring some down to earth methods for working with zoning and building departments to the group





Tuesday April 28, 2015 - Waltham, MA

Our own version of EEE: 

 

Emphasis on Energy Efficiency:  Abbot Mill, Westford

                                                                         

We all know of a few old mill projects that have been

converted to nice apartments or commercial spaces, and some of us have even been involved in a couple.  But can you imagine a project like this?
  • 13 different buildings with complicated requirements
  • Some were tear-downs, some were rehabs
  • Some had to be moved!
  • 2 levels of underground parking with tunnels
  • Restoration of a hydroelectric turbine and installation of a canal heat exchanger (Really?!!? Who even knows what a canal heat exchanger is?)
  • Property is on the National Register of Historic Places
  • All under the auspices of the National Park Service 

Chris Yule, developer of the project, said the Abbot Mill in Westford MA took 8-9 years from acquisition to occupancy, with 2 ½ years just for the parking, and over 2 years to build, yielding 131 units in combination of loft, flat and townhome units.  Some of the incorporated energy efficiencies include:
  • 350 KW of photo voltaic power on the rooftop
  • Heating and cooling run off a hydrothermal system using canal water to generate hot and cold air
  • Energy Star appliances


The project benefited from Historic Rehab Tax credits and received an award from the Engineering New Record.  Join us as Chris recaps his challenges and eventual outcomes with this project, as he consistently sought the highest level of energy efficiency possible.  



Tuesday April 21, 2015 - Worcester, MA

Has HERS hit your wallet yet?  Coming soon to your town

Have you budgeted for a rehab only to find out that government programs add thousands to your cost of construction?  Have you heard about HERS but don't know where and when it applies?  Or who to ask?  Are you wondering if this applies to you? 

 

Gerald Brady is a HERS rater with InfraRed New England, and works with local builders, redevelopers and building inspectors in implementing the Home Energy Rating System in towns that have adopted this new national standard.  He will discuss the  requirements, pros and cons of the system, and leave you with a better understanding of how it impacts you and your project.

 



You will learn:

  • What HERS is and why towns are adopting it (Hint:  it involves dollars!)
  • Where it is in effect and where it will be adopted soon
  • What the process is with the rater and the building department
  • What the rating system is and the forecast going forward
  • Tips for dealing with it that will ease the process (and save you bucks!)
  •  What rebates and tax credits you can qualify for in the process
  • What happens if your project FAILS?

 

Gerry will walk us through the process and leave us with some tools to better work with the HERS rating system. Come prepared to take a few notes if you are a builder or renovator working on major rehab projects, or think you might become one. 



Tuesday  March 24, 2015 - Waltham, MA



Perception is key:  Presenting your commercial 
loan package in the best possible light

Are you aware that applying for a commercial loan is different from residential but don’t know the difference?    Are you considering buying a multi with more than 4 units but don’t know how to get funding?  Do you know that how you present your deal has more to do with your approval than you think? 


Commercial lenders look at the deal metrics in much greater detail than do residential lenders on 1-4 family properties.  They talk about cap rates, DSCRs and other measures that residential lenders don’t consider.  They want to know your experience level and your cash reserves, and will expect a pro forma.  Presenting your deal in the best possible terms and highlighting the metrics and your plan for the management are all part of the process with commercial lending. 

Different asset types require funding from alternative sources – and you might not even know how to find them.  Peel back the layers of commercial lending to discover untapped resources right in your backyard.  But only if you know where to look.


Stephen Smeke is a commercial mortgage broker with GoldCoast Commercial Mortgage , and he will cover the ways you can best present your deal, and the sources to pursue.  


You will hear

  • The key points important in commercial lending
  •  How best to present the information and why your presentation and organization is key
  • How to identify the right capital source for your particular deal
  • Running an effective process to get the best possible outcome
  • Your portfolio and your financials – what they want to know
  •  Different types of commercial loans and sources and some general requirements for each
  •  You will leave armed with a the knowledge to negotiate the best terms and a loan package checklist for your reference






Wednesday March 18,  2015 - Worcester, MA

You Discriminating and Don't Even Know It?   Get the Scoop Straight From the Source:   

There are horror stories all over the internet and the REIAs about landlords and sellers being successfully sued for housing discrimination, when both renting and selling, and to make it even worse, the landlord didn’t even think they were in violation!  So how do you make sure you are not discriminating, but still protecting your rights? 

Join us for an overview and update on fair housing tailored to anyone who sells or rents property in Massachusetts, including an update on the forms of housing discrimination and protected categories, details about the rights of tenants with disabilities, and information about lawful and unlawful rental and sales advertising.  Housing Discrimination Investigator at the Massachusetts Commission Against Discrimination will be speaking on these topics which are critical to successfully managing your rentals and sales.

You will learn:

  • Whether you can evict a tenant for growing marijuana in their unit
  • When you can turn down a student as tenant
  • How to avoid being sued for housing discrimination, or at least being successfully sued
  • Whether you can decline to sell to or rent to a family with young children when you think you have lead paint
  • What you can say in your advertising, and what will get you in hot water
  • If a tenant or applicant requests a ramp, should you comply?  And when? 




Tuesday February 24, 2015 - Waltham, MA

Minimizing Environmental Impact and Maximizing Real Estate Value:  At the same time!

Have you passed on a small subdivision because of wetlands?  It was a nice parcel with easy subdivision potential, but the wetlands smack in the middle meant you could only get one lot instead of the 4 you were hoping for.  What if you could find a way to make it work?

Scott Goddard is a professional wetland scientist and specializes in creative solutions to land use issues. He is also a developer in his own right, and has successfully taken parcels from a no-build or minimal use to a multiple lot approval. 

You will hear:

  • How to identify the issue
  • Why local regulations can be more restrictive than federal or state requirements
  • When you can get two opposing opinions and sets of advice on the same subdivision
  • Approaches that maximize land area for use
  • How long the process can take
  • Why your risk tolerance plays into the game
  •  When to call in the cavalry

Scott will cover some case studies where he successfully increased the value of land, and answer your questions about the steps you need to take.



Wednesday February 18, 2015 - Worcester, MA 


The City of Worcester wants to help you with your business:  

New tax incentives for Redevelopment!

Doing business in Worcester and want to expand into additional opportunities?  Considering Worcester as a location to invest?  Think there are lots of opportunities in the city? You’re right!

Paul Morano is the Director of Business Assistance with the Executive Office of Economic Development for the City of Worcester.  There are new tax credits, new local tax relief, grants and financial assistance programs available to businesses in Worcester, and some of them are just the ticket for real estate investors and developers.

Did you know the city may be able to:

  • NEW PROGRAM!  Help provide state tax credits and local tax relief for redevelopment of buildings into market rate housing where your rehab budget is at least $30K per unit?
  • Provide new initiatives for owner occupied properties in the Union Hill neighborhood?
  • Help you fill your mixed use property with commercial tenants?
  • Give you a grant to spruce up your building at no cost to you? 
  • (That’s a GRANT, not a loan!)
  • Help your commercial tenant afford to rent your space?
  • Get you financial assistance for contaminated sites?                     
  • Help you with commercial tax relief for redevelopment or new construction?
  • Work with you on a HUD loan guarantee to for larger commercial projects?
  • Identify target properties that the city wants cleaned up?

Paul will provide updates on the Theatre district and City Square projects.  He will outline the role of the Business Assistance Office in helping investors and developers by promoting a business friendly environment conducive to business growth and success.  They administer programs that you can take advantage of as real estate redevelopers and he can also refer you to programs that you didn’t know existed!







Tuesday December 16, 2014 - Waltham, MA

Prizes, Networking, Games, oh my….  


 

We're calling it SurvivorOpoly    

A cross between Monopoly and Survivor - or maybe it was Clue and the Amazing Race:  Clamazue!  By the time we were finished creating the game, it was strictly a Black Diamond original.   Bring your rehab skills to compete for highest profit deal.  Or maybe it will be luck that will win you that top prize!  Either way, you don't need to be a pro to win!

Play for fun and prizes, we're giving away $100 gift certificates to Best Buy and  $75 to Home Depot.  Who can't use those?  





Tuesday November 18, 2014 - Waltham, MA

Are You Discriminating and Don't Even Know It?   Get the Scoop Straight From the Source:   Special Guest speaker - The Chairman of the Massachusetts Commission Against Discrimination!

There are horror stories all over the internet and the REIAs about landlords and sellers being successfullysued for housing discrimination, when both renting and selling, and to make it even worse, the landlorddidn’t even think they were in violation!  So how do you make sure you are not discriminating, but still protecting your rights? 

Join us for an overview and update on fair housing tailored to anyone who sells or rents property in Massachusetts, including an update on the forms of housing discrimination and protected categories, details about the rights of tenants with disabilities, and information about lawful and unlawful rental and sales advertising.  Selena Walckner, Housing Discrimination Investigator at the Massachusetts Commission Against Discrimination will be speaking on these topics which are critical to successfully managing your rentals and sales.

You will learn:

  • Whether you can evict a tenant for growing marijuana in their unit
  • When you can turn down a student as tenant
  • How to avoid being sued for housing discrimination, or at least being successfully sued
  • Whether you can decline to sell to or rent to afamily with young children when you think you have lead paint
  • What you can say in your advertising, and what will get you in hot water
  • If a tenant or applicant requests a ramp, should you comply?  And when? 



Tuesday October 21, 2014
 - Worcester, MA


Solar is the New Granite


Curious about solar energy, either for a rehab, a long term hold property, or even your own house?  Wondering how to make it pay, and navigate the labyrinth of energy tax credits?  Can you add solar to a rehab and reap additional profit?

Stephen Hirsh is the President of Solar Farm Bank, specializing in Renewable Energy production in MA, NH and VT and on the Board of Directors of MASOA.


Here are some of the points he will discuss:
  • Why Solar energy is the new granite counter top  in rehab projects
  • Different types of renewable energy and which is the most practical for you
  • How solar is good for your business
  • Tips on selling a property with a solar installation
  • Why photovoltaic
  • How solar can improve the profit on a project
  • How to tell if it will work on your site
Stephen works with developers and redevelopers in determining if solar will work for your project, handling installation from start to finish, and maximizing your savings and profit from the installation.  You will leave with a good understanding of how to best determine if solar will work on your next project, and what next steps to take.  








Tuesday October 28, 2014
 - Waltham, MA

Difficult deals?  No problem.  
Impossible Takes a Little Longer:  Getting the Tough Deals Done


Have you noticed that more and more distressed sale properties come with deed or encumbrance restrictions from the selling bank?  When was the last time you could wholesale a short sale?  Do these deals run into snags at the last minute that stop the closing dead in it’s tracks?

Meghan Grugnale is a conveyancing attorney in MA and NH specializing in investor’s deals, and she excels at pulling rabbits out of a hat when it’s down to the wire.  She will discuss some of the more difficult scenarios, how to deal with them and get the tough deals done.

You will hear:

  • Types of back to back transactions and the difficulty level of closing each one
  • When you can use C’s money to pay A
  • How to smooth the process of a back to back closing or transactional funding deal
  • When wholesale fees must show on the HUD
  • When in the process to bring in the attorney
  • What contracts are not assignable
  • When you must take title

Bring your questions and your scenarios – each deal is a little different, and we’ll have a Q&A on how to handle it.  Plan to order dinner, drinks or a snack, we are grateful to Ristorante Marcellino for giving us the space to allow us to offer you free events!





Tuesday September 23, 2014 - Waltham, MA

From Class C to A- the turnaround of a 70 unit complex

Renovating and stabilizing a 6 unit is one thing, but taking on a 70 unit project is in a whole other class, pun intended.   

Dan Botwinik has been specializing in distressed multi-family acquisition and management, and has recently completed a major renovation and turnaround he is going to discuss.



Here are some of the points Dan will cover:

  • Acquisition and negotiations
  • Budgeting the renovations and the decision to significantly increase the scope and finish level to $2MM
  • Permitting process, including engineering
  • Locating the sweet spot of maximizing revenue and value, and minimizing construction costs
  • The all important numbers
  • Evictions and managing tenant expectations throughout the renovation
  • Financing and refinancing
  • Before and after photos


Dan’s company was awarded Outstanding 
Landlord Award by the Bridge of Central Mass in 2012 and continues to grow, with over 400 units under management.  Questions are welcome, as he goes through this project, you are sure to have lots of them.  



Tuesday September 16 , 2014 - Worcester, MA
Real Estate Investing out of state: Pros, cons and in between


We’ve all been intrigued by the promise of the great returns you can achieve by investing in other areas.  The Massachusetts market is not known for great cash flow so what happens when you venture out of the area?

We’re going to highlight 4 different experiences in 4 different geographies, including buy and hold, and flipping.  This is not an advertisement for any of these locations or methodologies, but an exploration of what really happened in these 4 scenarios.  Draw your own conclusions and make your own decisions on what is right for you, when you’ve had a chance to ask questions of all the presenters. 

You will hear:
  • The reasons these investors chose to make the leap out of Massachusetts
  •  The steps they took to find the properties
  • The ease or difficulty of managing from hours and hours away
  • Self-manage or property manager? 
  • How they found the property manager if they used one
  • The actual time spent on each deal
  •  If it actually makes money
  • Whether it was worth it to them
Join us for an interactive discussion where you’ll hear from 4 investors in multi-family, single family and commercial property and their experiences in holding and flipping these out of state properties.  

The bar will be open and you can order dinner during the event.  We have the best networking in Worcester County!

Tuesday August 26, 2014 - Waltham, MA
Should you choose Nevada, Delaware, Wyoming or Massachusetts to form your next entity?

                                                                           We’ve all heard people swear by the benefits of a Nevada Corporation, or extol the virtues of a Delaware Series LLC.  Maybe it’s the Wyoming bandwagon that they want you to jump on.  Or a trust – isn’t that the one that protects your identity so no one knows who owns the property?

And the tax benefits, don’t forget those…How do you look past the hype to understand how best to set up your entity for your business?

Attorney Alan Segal has worked in real estate and asset protection for over 30 years is well versed in these concepts and questions and will help us understand the differences. 

You will learn:

  • When to use a trust, and when NOT to
  • Whether a Series LLC will help you avoid multiple annual fees for your multiple entities
  • When it pays to change the structure of your business even though you’ve been fine up til now
  • What structure is the riskiest from a liability perspective
  • When to nest structures to provide privacy and asset protection
  • What’s behind the flood of people flocking to Nevada or Wyoming corporations 
  • When you can draft your own operating agreement


Perhaps you heard Alan at Tim Walls’ presentation on “Post foreclosure eviction pitfalls:  when you can’t foreclose and you can’t evict”.  He provided great information then and you’ll learn even more at this event.  Join us for networking, cash bar and great info; don’t  forget to plan to order dinner.






Tuesday August 19, 2014 - Worcester, MA

Inside the Brain of a Hard Money Lender

Wondering why some deals are funded easily and some just …… aren’t?  Why do some people just sail through the funding piece and others flounder on the rocks?


We’re going to look at some of the criteria that a lender looks at when considering a rehab or buy-and-hold loan, as well as some potential problem deals from the lender’s perspective.  You’ll see examples of what constitutes a good deal to a lender, and what might make him pass.

You will learn:

  •  The five biggest red flags to a private or hard money lender
  • Why first-time rehabbers have a more difficult time getting funding
  • When size matters
  • Which deals get an automatic “sorry, have to pass”
  • When all the rules get broken
  • Packaging your loan
  • What could possibly happen? – some case studies of deals going bad

Ann Bellamy has been lending since 2006 in Massachusetts and Southern New Hampshire, and having made most of the mistakes it is possible to make in 8 years, will share some of the insider perspectives she’s gained in looking at a hard money loan.  Come and discuss options in lending, and packaging your loan for approval.



Tuesday July 22, 2014 - Waltham, MA


Greasing the Wheels The Power of Connections 

When you go to a real estate investor event, do you feel as if everyone knows everyone, except for you, that is?  Does it feel like one big clique?  Or maybe you feel as if no one knows anyone, and where do you start?  Maybe you’ve stuck it out and know a bunch of people, and know you need even more!

Knowing the right people can make all the difference in real estate investing.  From the guy who brings you that sweet deal, to the attorney can close in just days, to the mortgage lender who can get your end buyer approved when their financing falls through, to the funding source who can drop everything to get your deal funded in 4 days:  these are the people who you need in your network and who can help you succeed.

We’re going to showcase three deals and talk about the value that the network brought to these investors, and how they were made easier, or even possible at all, with the help of others right here in the Black Diamond network. 

  • A house with an extra lot:  The house was going to be sold as-is, but morphed into a rehab once the lot was sold 
  • A multi-family condo conversion with tenants in place:  Not a deal for a beginner, but a beginner pulled it off through reaching out to others
  • An A to B to C deal where one lender funded both transactions speeding up the closings, but which hit some mold issues among other problems.

Come and network with us, meet more experienced investors to help get your deals done, and be sure to introduce yourself at our Introduction segment.  Cash bar and you can order dinner at the event!

 



Tuesday July 15, 2014 - Worcester, MA

Little known issues in Massachusetts landlording

Massachusetts has some of the most tenant friendly laws and courts in the nation.  But we still choose to buy properties for cash flow.  Lack of knowledge can get us in trouble and cost us a bundle so we’re always looking for ways to stay on top of our properties, tenants and cash flow.

We’ve assembled a panel of three experts:  Brian Lucier, a landlord with a flawless eviction record, Henry Raphaelson  an attorney specializing in landlord/tenant law, and Dave Fleckner, an experienced property manager, all working in Worcester County.  We’re going to throw some of the most pressing and convoluted questions at them, and we invite you to bring your questions too. 


You will learn:

  • The 5 biggest red flags on tenant applicants
  • When you must start the eviction process in order to avoid eviction
  • When discrimination is not discrimination
  • How to take a deposit to reserve a unit, and make it non-refundable
  • How to refund a security deposit if the previous tenant is in jail (or you don’t have their address)
  • How to make an eviction stick when it’s not for non-payment
  • What you have to know when you buy a vacant multi


This will be an open discussion:  we have lots of questions for them, and some of you may have some we haven’t thought of.  So bring your questions and join us for dinner or drinks or both, while we have a frank discussion on some of the issues that even experienced landlords trip over.




Tuesday June 24, 2014 - Waltham, MA


The Good, the Bad and the 

Gorgeous-3 rehab case studies 



You’ll get inspired, feel relieved, be sympathetic and laugh all at the same time.   

Nick Aalerud is generous with his time and is known for being open about his challenges and successes, since he thinks that much of his own growth comes through helping others learn in real estate investing.  

In this presentation, he goes through 3 recent renovations he's done, and reviews the numbers and the challenges he faced. 


You will hear:

  • What happens when your sewer tie-in bid comes back 5 TIMES what you budgeted??
  • What happens when you give leeway to a high-end buyer that wants added work done?
  • And bonus - find out when making relationships gets in the way of making a profit.  


 



Tuesday June 17, 2014
 - Worcester, MA



Condo projects: When can you lose your ownership back to the seller? 

 

 

Considering a condo conversion project of a multi or a mill building?   How about a church?   

 

Not sure of all the considerations you need to plan for?  You know there are legal requirements and condo docs, but who do you go to?  Do you know how to handle phasing?  And what about partial releases if you have a mortgage?  And most incredible of all, did you know you can lose your ownership in the project

 

Selim Lahoud is a local developer and has been involved in many projects in the Worcester area.  He will talk about his experiences and give some real world examples of challenges and obstacles he's overcome.  He will discuss the condo conversion process, and some overlooked details.

  

You will hear:

  • How he determines market need when considering a project
  • What to look for when purchasing a condo
  • Condo docs:  plans, bylaws, rules and regulation
  • Condo associations:  how they function, ownership percentages, and voting percentages
  • Fees involved
  • Owners percentages and financial obligations
  • Expiration of phasing rights
  • Take-back rights:  Your percentage of ownership matters
  • Owner role vs developer role


  



Tuesday May 27, 2014 - Waltham, MA

Post foreclosure eviction pitfalls:  

when you can’t foreclose and you can’t evict


Buying a foreclosure property from a bank with the previous owner still in the property?  You absolutely need to hear this first!  Circumstances and precedent in Massachusetts create instances where you can buy a property, not own it, not be able to re-foreclose to get clear title, and not be able to evict the squatters in your house.  But you paid for it!


Tim Walls bought a property as an REO and can’t evict the squatter in the house.  He’s going to discuss his case, how it happened, what he learned from it, and what not to do!



You will hear:

  • How one man managed to live for free, and evade eviction in Massachusetts, for over six years!
  • What happens when the judge says you don't actually own the property, even though your name is on the deed. 
  • How the Title Insurance Company can (and will) legally deny your claim.
  • What is the difference between a squatter, and  oldover tenant anyway?
  • How the Board of Health can be your best friend, or our worst enemy as a landlord.
  • Choosing the right attorney - what they need to do to protect you.

  • Why US Bank vs. Schumacher is so important to investors in Massachusetts


Attorney Richard Vetstein who writes massrealestatelawblog.com will join us to field the legal questions that will inevitably arise, so this will be a really great case study conversation!




Tuesday May 20, 2014 - Worcester, MA



Contractors:  the toughest part of managing a rehab


Had to fire your contractor recently?  Or did he walk off the job in the middle of it?  Or worse yet, did he simply fall off the planet and never return calls?  Did you pay for more work than you received?  Managing contractors can be the most difficult part of managing a rehab, and sooner or later, you’ll be faced with a contractor challenge. 



Julio E Vega has been managing construction projects for 15 years, both in Latin America and in the US on his own rehab projects.  

Julio has fine tuned his systems and approaches to maximize his time and efforts as he successfully juggles multiple rehabs.  He will share his methods of managing contractors and how he comes in “On time and on budget”

 

You will hear:

  • Tips on finding contractors, and using referrals
  • Establishing your standards, setting the rules (and when to stick to them)
  • How to put it in writing, and some elements of a
    good contract
  • Payment schedules and milestones
  • How to motivate them so that your job gets done on time
  • What to do when you can’t, and how to know when it’s time to fire them
  • Providing opportunities for both of you to grow











Tuesday April 22, 2014- Waltham, MA


 

 

Can you defer taxes on $52,000
worth of income this year?




As a self employed real estate investor, are you wondering how you are going to defer taxes on your income this year?  Your IRA allows you to put in up to $6,500 per year depending on age, but that’s not much help.  And it’s going to be a long slow road to build up that nest egg at that rate.   

If you’re working for someone else, they may have a 401(k) plan you can participate in, but if you make the jump to self employment, then what ?

Enter the 401(k) for the self employed:   A largely misunderstood and frequently overlooed retirement vehicle, the 401(k) provides huge tax benefits and investing opportunities.


You will learn:

  • What a Solo (individual) 401(k) plan is, who can use one and who can’t!
  • The components of the plans and contribution limits:  up to $52,000 per year
  • Huge contributions for full-time self-employed
  •  Full-time in a job and working in your real estate business at the same time – when you can use a plan
  • Examples of what you can do with them and with a Self Directed IRA



Rajeev Kotyan is a principal at NUA Advisors, and specializes in non-traditional investments including real estate, notes and other vehicles utilizing self-directed IRAs.  Join us as we learn to expand our investing options.  

 




Next Meeting - Worcester, MA 

Tuesday April 15, 2014 - Worcester, MA


Nasty Neighbors 
Up close and Personal


Ever bought a property only to find out later that you don’t own what you think you own? Have you ever put up an expensive fence and then found out you put it on your neighbor’s property?  Does your neighbor’s lot line go through the middle of the living room and you don’t even know it?  What if you were planning on flipping this property quickly?  Now what?

Attorney Julie McNeill specializes solely in land law and has over 20 years of experience working with state regulatory agencies, private law firms and government contracting companies.  She successfully argued at the Massachusetts Supreme Judicial Court regarding a zoning appeal, resulting in significant press coverage.

You will hear:
  • How boundary issues occur and the first place and how to prevent them
  • Why you can’t rely on the plot plan (Didn’t get a plot plan? Really?)
  • Why boundary issues may have started decades ago
  • What sort of actions reveal the problems
  • Resolutions
  • How you can own a property but not have legal access to it
  • Easements and how they affect your rights to the property
  • When to bring in a land attorney
  • How to check properties you own now before you go to sell them
  • Red flags that may tip you off to a potential issue
  • Out of court amicable solutions
  • In court solutions OMG solutions!

Julie practices in the areas of boundary and access disputes, zoning, planning, conservation, title issues and environmental approvals.  








Tuesday March 25, 2014- Waltham, MA



Keep your $$ Pie, AND Invest it Too?! 

 Advanced Business Tools at Waltham Black Diamond


Advanced Business Tools for Real Estate Rehabbers & Landlords - Tips from your Local Chick

Ever asked yourself how you can effectively double your IRA contribution per year... 
while still using it to invest in real estate?  What happens to your business when your partner suddenly becomes very ill, or dies??  (Horror story promised!)

Come and hear Jen Aalerud speak on these higher-level topics.  They will definitely make you think in an entirely different way.  

Jen has been working on these programs for a while now, and has been waiting for the right time to educate people on them.  With the IRS recruiting people in droves to bring in more tax revenue (to fund our brilliant spending budget) and Obamacare costing billions more and people losing their health care coverage across the country... where's the SENSE of it all?  More importantly... WHAT WEAPONS do I have, to STAY AHEAD OF THE TAX MONSTER??

 

You'll Learn...

  • Why real estate rehabbers, landlords, and small business-owners specifically can benefit with an HSA - and how to use it to invest in real estate.
  • Setting up your personal funding source to grow your $$ and use it tax free at the same time.
  • Other ways to beat taxes and keep MORE of your money working for you - How to get $1 to work in 3 different ways.
  • And a bonus...What are the best INSIDER TRICKS for finding low-cost health insurance for the self-employed real estate investor?
Tuesday March 18 , 2014 - Worcester, MA

Are lease/options truly dead 
or simply on life support

Have you heard that Dodd Frank will change real estate investing and put you out of business?  Are all the scary predictions true?  Or is the industry just trying to sell you more books,tapes and courses?   
 
 
As we affectionately refer to it, Dudd Funk became law on January 10, 2014 and there is lots of hype surrounding it's implementation.  Get the lowdown on what changes have really occurred, how they impact your investing business, and what to do now

Rob Benson is a Senior Loan Officer and Branch Manager at Gladewater National Bank, and processes gazillions of loans (well, maybe not gazillions, but lots).  He'll give us the straight scoop on how we must 
change with the new laws
, and what hasn't changed at all.

You will hear:

  • An overview of the new law so you know what the broad brush outline is
  • How these laws impact your acquisition and exit strategies
  • Whether lease options are truly dead, or simply on life-support
  • The 8 criteria you must meet to legally provide seller 



Tuesday January 28, 2014 - Waltham, MA

Solar is the new Granite

Curious about solar energy, either for a rehab, a long term hold property, or even your own house?  Wondering how to make it pay, and navigate the labyrinth of energy tax credits?  Can you add solar to a rehab and reap additional profit?

Stephen Hirsh is the President of Solar Farm Bank, specializing in Renewable Energy production in MA, NH and VT.


Here are some of the points he will discuss:

·       Why Solar energy is the new granite counter top in rehab projects

·       Different types of renewable energy and which is the most practical for you 

·       How solar is good for your business

·       Tips on selling a property with a solar installation

·       Why photovoltaic

·       How solar can improve the profit on a project

·       How to tell if it will work on your site

Stephen works with developers and redevelopers in determining if solar will work for your project, handling installation from start to finish, and maximizing your savings and profit from the installation.  You will leave with a good understanding of how to best determine if solar will work on your next project, and what next steps to take.  



Tuesday January 21, 2014 - Worcester, MA

Renovate or tear down?  

A tale of two projects

 

Have you ever bought a property, planning to rehab, and then changed to tear down and rebuild?  Or wondered part way through the project if perhaps you should have?  Have you been thinking about a major renovation of a large complex and wondered about managing a million dollar plus budget?

 

 

Dan Botwinik has been specializing in distressed multi-family acquisition and management, and is currently completing two major projects he is going to discuss.

  • 70 unit acquisition and renovation, with a 1.6MM construction budget
  • Shrewsbury acquisition of 9 units which evolved into a new construction of 8 townhouse units

Here are some of the points Dan will discuss:

  • Permitting process, including engineering, Zoning Board, Planning Board and Conservation Commission
  • Deal structuring with a General Contractor, considering hiring, equity split, or self-management of the construction
  • Locating the sweet spot of maximizing revenue and value, and minimizing construction costs
  • Interviewing real estate agents to pre-sell the units
  • Financing the projects

 

Dan's company was recently awarded Outstanding Landlord Award by the Bridge of Central Mass in 2012 and continues to grow, with over 400 units under management.  Questions are welcome, as he goes through these two projects, you are sure to have lots of them.

 




Tuesday November 19, 2014 - Waltham, MA
  
Deal Structuring 
with Partnerships 


Making sure everyone gets a fair shake 

   

Need a financial partner, but don't want to give away your first born?  Wondering how much you should expect if you are the money partner? And when you figure out the basic numbers, how do you best structure the deal?

 

The term "Win-Win" comes to mind. A deal has to work for all the partners, and risk taken into consideration when structuring the roles and compensation. Peter McLaughlin is an experienced developer in Boston, working with both residential and commercial properties, condominiums and rentals. He wishes someone had helped him figure out the partnership structures and compensation when he was starting out, and is going to show us what has worked for him, with alternative ideas for varying scenarios.


You will hear:
  • How much you should receive If you are the developer, (or redeveloper) with no money in the project
  • What percentage of equity the financial partners should receive
  • Should the developer manage the construction as GC, or hire one?
  • When to give a bird dog a percentage of the deal
  • What to do when the hard money lender wants a piece of the deal
  • If your GC is simply a contractor, or an equity partner

Peter has completed well over $25 million in real estate transactions and is sharing some of the techniques that have worked for him as he built his business.


 

Tuesday November 19, 2013

Networking 6PM

Program 6:30PM

 

Join us for dinner, drinks or both.  If you come early for dinner, consider eating downstairs and coming up for the meeting afterwards.

  
Networking After Hours Events Feature:
  • No Membership or Meeting Costs  
  • Non-selling speakers
  • Local topics presented by people actually doing it
  • 20 seconds that you can tell your story
  • Casual relaxed fun atmosphere
  • No network marketing
  • And did I mention it was f*r*e*e?

 

Ristorante Marcellino

11 Cooper St, Waltham, Ma

View Map

 

Ristorante Marcellino 



Tuesday October 22, 2013 - Waltham MA

Networking After Hours


Opportunities in 
Environmental Issues
Turning down the fear dial

Do you hear “oil spill” and drop the project faster

than you sold your BP stock? Do “contamination” and “environmental regulation” give you indigestion?  (Lots of ‘tions goin’ on there) . 

Matt Donaghue is going to give us some approaches to environmental issues that may have you rethinking your strategy,  and Jonathan Moore will discuss the due diligence process and technical side when dealing with these issues.

You will hear:

  • Different types of environmental problems you may encounter
  • How to evaluate when there may be a value play
  • When you could get a $50,000 discount on a problem that costs $5,000 to fix
  • How to manage the environmental issues
  • Evaluating the financial risk
  • When to walk away
  • Evaluations from both the legal and technical perspective


Matt Donahue practices law in NH and MA, specializing in business litigation and environmental law.  Jonathan Moore has 24 years in environmental consulting.  They will help you turn down the environmental fear dial so you can confidently evaluate your risks and opportunities.

Tuesday October 15, 2013 - Worcester, MA

Networking After Hours


Estimating your Rehab in 20 minutes:
Part I:  Interior and Sizzle Features
 

Does a property go under contract to someone else while you’re still pulling your rehab estimate together?

 If you’re not a contractor, with Home Depot’s database in your head, how do you estimate your rehab budget on a redevelopment project?

  • Do you spend days waiting for your contractor to show up to give you an estimate?
  •  When he does show up, is it days more to get the numbers?
  • While you’re doing all this waiting, does someone else get it under contract?
  • Are you missing out?

We’re going to go through a property and give you the “Rules of Thumb” that will help you do the Quick and Dirty estimate in about 20 minutes.  This is not a substitute for going through the property with your contractor in detail, or developing a detailed scope of work and contract, but will allow you to quickly estimate what a rehab will cost so you can make an offer on the spot.

You will see:

  •  Actual numbers
  • Sample photos of what we are discussing

This is the second of two parts presented by Julio E Vego

Tuesday September 24, 2013 - Waltham MA

Networking After Hours


Save your Gas, Sit on your @$$
on your computer 
Part II:  Multi-family deals

Ever bought a multi-family and wonder where the profit went?  Looking for another but don’t want

to get burned?  The agent says it’s a Cash Cow, but what if it’s just a Pig with Lipstick? Can you really make it cash flow at $200K per unit? 



Ann Bellamy is going to give you some rules of thumb and ways to screen income property so you know which properties you can dig deeper on, and which ones to leave for the “bigger fool”.

You will hear:

  • 4 Rules of thumb and how to apply them – or not
  • A case study illustrating these rules
  • When the 50% rule may not be aggressive enough
  • What is usually left out of the MLS listing
  • Where to get the APOD spreadsheet for free that the CCIM’s use
  • Free online screening resources for rental rates, environmental hazards, and more

These are not substitutes for in depth analysis, but will help you quickly weed out the properties that won’t work for you, so you can focus on those that will. This presentation is interactive, so bring your best screening tips and your questions.


Tuesday September 17, 2013 - Worcester, MA

Networking After Hours


Estimating your Rehab in 20 minutes:
Part I:  Exterior and Mechanical
 

Does a property go under contract to someone else while you’re still pulling your rehab estimate together?

 

If you’re not a contractor, with Home Depot’s database in your head, how do you estimate your rehab budget on a redevelopment project?

  • Do you spend days waiting for your contractor to show up to give you an estimate?
  •  When he does show up, is it days more to get the numbers?
  • While you’re doing all this waiting, does someone else get it under contract?
  • Are you missing out?

We’re going to go through a property and give you the “Rules of Thumb” that will help you do the Quick and Dirty estimate in about 20 minutes.  This is not a substitute for going through the property with your contractor in detail, or developing a detailed scope of work and contract, but will allow you to quickly estimate what a rehab will cost so you can make an offer on the spot.

You will see:

  •  Actual numbers
  • Sample photos of what we are discussing

Our first half of this discussion will include exterior repairs and mechanical systems with Nick Aalerud. Interior and sizzle features with Julio Vega  to follow at our October Worcester meeting.

Tuesday August 27, 2013 - Waltham MA

Networking After Hours


Save your Gas, Sit on your @$$
Screening Deals from your computer 
Part I:  Single family deals

Did you ever wonder why you keep getting beat out on the "best flips"?

How are some investors able to weed out the time wasters and beeline to the best deals.  What do they know that you don't?

 

Here is an example:

Your brother in law calls you to tell you about this house that would be a great rehab.  Do you

1.   Rush to the property to see it?

2.   Rush to your pc to research it?

3.   Neither, you finish watching the latest episode of Shark Tank

If you answered 1, boy, do you need to come to this event.  If you answered 2, we’re going to give you some tips to make your screening even better.  If you answered 3, then get a DVR so you can watch it later, and come to our meeting anyway.

You will hear:

  • How to rule out 9 out of 10 of those time wasting properties from the comfort of your PC
  • The Top criteria for filtering leads and how to assign weight to leads depending on the source
  • How to spend more time doing deals instead of driving around
  • How to take that huge list of available properties and narrow it down to some real prospects that you can zero in on

Here is an example:

 

At face value the house on Main street looks like a winner.  It's got the square footage, the lot size and even the white picket fence sure to tug on your buyers heartstrings.  But will it make you money?

If you are saying to yourself something like " My agent does all the screening  for me." Think again.  So go buy a DVR, and mark your calendar for our fun event. 


Tuesday August 20, 2013
- Worcester, MA

Networking After Hours

The City of Worcester has money to give away

They want to help you redevelop real estate, who knew?
 

 

Doing business in Worcester and want to expand into additional opportunities? Considering Worcester as a location to invest? Think there is lots of opportunity in the city? You're right!

 

Paul Morano is the Director of Business Assistance with the Executive Office of Economic Development for the City of Worcester. There are grants and financial assistance programs available to businesses in Worcester, and some of them are just the ticket for real estate investors and developers.

 

Did you know the city may be able to:

  • Help you fill your mixed use property with commercial tenants?
  • Give you a grant to spruce up your building at no cost to you? (That's a GRANT, not a loan!)
  • Help your commercial tenant afford to rent your space?
  • Get you financial assistance for contaminated sites?
  • Help you with commercial tax relief for redevelopment or new construction?
  • Work with you on a HUD loan guarantee to for larger commercial projects?
  • Identify target properties that the city wants cleaned up?

Paul will outline the role of the Business Assistance Office in helping investors and developers by promoting a business friendly environment conducive to business growth and success. They administer programs that you can take advantage of as real estate redevelopers and he can also refer you to programs that you didn't know existed!



Tuesday July 23, 2013 - Waltham MA
Networking After Hours

Clear as Mud

Finding black and white in those grey areas

I’m sure I’m mixing my metaphors, but I think you will get the picture.

There are so many grey areas in real estate investing and real estate law, that even the most seasoned investors can make mistakes.  Your brother-in-law says one thing, your real estate agent says another, and sometimes even the attorneys don’t agree.  And what used to be customary and legal just a couple of years ago may be illegal, or at least frowned upon now.


Richard Vetstein has been practicing law for 16 years, specializing in conveyance and landlord/tenant law.  He writes a popular Massachusetts Real Estate Law Blog, and is going to discuss some of the grey areas of real estate that we encounter regularly. 

He will discuss:

  • Student housing do’s and don’ts:  How many students can you really cram into that condo?  Can the town limit the number?
  • Wholesale and Bird Dog fees:  Are they “illegal” or simply not permitted by the NAR?  What do you tell the “Realtor” when they say:  “You can’t do that!”  How can you pay someone for bringing you a deal, and not run afoul of real estate licensing laws?
  • Zoning  vs Building department vs  Tax Assessor:  When is that three-unit really a duplex?  Who decides, and which department is “the horse’s mouth” and gets the finally word. 
  • Are you, if you're a real estate agent, liable if you sell a 3-unit and it turns out to be a legal 2-unit?  What about if you are not licensed, is there any liability if you didn’t know?
  • And if it turns out to be only a 2-unit, how do you best go about converting to a 3-unit?
  • Discriminating rental practices:  can you market to a protected class?  Is it legal to market that your building is ADA Compliant?  What about marketing to health professionals if the property is walking distance to a hospital?
  • How does it change if the building is owner occupied?  How much can you discriminate?
  • Do emails count as contracts?
  • Transfer tax:  When can you reduce the amount of transfer tax, and pay on only the equity in the property?

This will be an interactive presentation, with time for questions from the audience, so bring your stumpers. 


Tuesday July 16, 2013 - Worcester MA


Networking After Hours

Roundtable Discussions

How many times have you wished you had time to ask those particular questions that seem to have multiple correct answers?  Do you need more time to talk to the people who are knowledgeable about what you need to know?  Are they always busy and have a line of people waiting to talk to them?

Black Diamond Round Table Discussions!

We’ve assemble 12 local professionals knowledgeable about some of the hottest investing topics.  Each will have a table to discuss their topic and you can rotate from table to table, or pick one or two to focus on.  You have all evening to talk one-on-one and ask all the questions you like.  We like interactive, so be sure to join in where you can contribute knowledge or questions.

  • Wholesaling – Nick Aalerud, AA Real Estate Group
  • Rehabbing – Julio E Vega, White Picket Fence, LLC
  • Property Management/Landlording – Dave Fleckner, ICW Development
  • Short Sales – Maryann Little
  • Lending table :
    • Hard money – Ann Bellamy, Buy Now, LLC
    • Residential – Rob Benson, Gladewater National Bank
    • Commercial –  Patrick Royce, Webster Five Cents Savings Bank


  • Insurance – Jen Aalerud (nee Swartz), Your Insurance Chick
  • Attorney – Meghan Grugnale, Phenix Title
  • Commercial Investing – Mark Dickey, NAI Norwood
  • Contracting – Zach Fleckner, ICW Development
  • Self- Storage – Joe Mendola, NAI Norwood

Have a topic you’d like to add, or a moderator who might make a good addition to the group?  Let us know right away!

Tuesday July 16, 2013 - Worcester MA

Don’t  get caught with your short sales down!

 

·         How much below list should you offer on a short sale?

·         Trying to flip a short sale and everyone says you can’t?

·         How can you get a rehab loan on a short sale with a 120% deed restriction?

One of the most talked-about subjects among any group of investors is short sales:  the stresses, the rates of approval, the BPO, the offer price and the time to close, and the list goes on and on.

Maryann Little has been successfully negotiating short sales since 2009 and has successfully negotiated hundreds of them with a 98% success rate.  We’re going to ask her the questions that everyone wants to know.

You will hear:

·         When does a short sale have a 90 day deed restriction from the shorting lender?

·         How can you restructure this if it has a 120% encumbrance limitation and you need a construction loan?

·         How can you wholesale a short sale?  Legally?

·         What is the average time to close on a short sale now, and how has the 150-day right to cure impacted the rate of short sale approvals?

·         How can you know how much to offer below list price and still have a prayer of getting your short sale approved?

·         What do you do when the BPO is way off?

How does the negotiation differ between large and small banks?                 
Tuesday July 16, 2013 - Worcester MA
Networking After Hours

Septic Systems: 


Know your Sh*t

Ok, it’s a little crass, but it got your attention, didn’t it? 

As investors, we frequently deal with septic issues, both before and after we buy a property.  Sometimes they are planned for, and sometimes they are a “Surprise!”

Septic truck
  When you are armed with knowledge, then planning for a “Surprise” is just budgeting, buying right, and writing a check, not a scary black hole.  <Reference intended>

Rob Scott knows his stuff <notice I didn’t go down that path again> and we’re going to quiz him on the ins and outs of septic systems in Massachusetts.  

This will be an interview format, and here are just a few of the questions we’re throwing at him:

  • How many kinds of systems are there?
  • Which ones are the most expensive?
  • How do I know which type I’ll need?
  • Which towns are the most difficult to work with?  The easiest?
  • If you suspect a system is failing, what is the process, and where do you start?
  • What do I look for at the Board of Health? 
  • What are the red flags that will drive my costs up?
  • How difficult is it to upgrade a system from a 3BR to a 4BR?
  • Are there easy fixes instead of replacing the whole system?

As always, we will leave time for questions, so bring your note books.  Because this is an interview format, there will be no presentation to download.

Tuesday May 28, 2013 - Waltham MA
Networking After Hours

Commercial  Investing

Movin’ on Up
  • Wondering whether to take the plunge?
  • What kind of commercial property should you consider?
  • If you do, should you hold or flip?
Almost everyone I spea
k to who has been investing for a while says they want to move into commercial investing.  It’s what we want to do when we grow up.  The risks are significant, but the returns can be huge.
Robert Bohlen, CCIM, CDPE, PhD owns and manages over 3000 units and over 18,000,000 (yes, million) SF of retail and industrial space in the Midwest.  Bob will discuss:
  • Finding commercial and multi-family property
  • Which types you should buy
  • Holding vs Flipping:  Why vs Why Not?
  • Underwriting the purchase properly
  • Financing the property
  • Adding value and auxiliary benefits using customer service
Tuesday May 21, 2013 - Worcester, MA

Advanced Massachusetts Landlord Strategies

  • Nervous about rental property in Massachusetts?
  • Need some solid strategies for bullet-proofing your tenant relations?
  • Want some tips on clean and fast evictions?

Brian Lucier has been successful in Housing Court 88 times and counting, and he’s going to share some tips with you to ease the process of being a landlord in a tenant-biased state.

Here are some of the myths he’s going to dispel, how many of them do you subscribe to?

  •  Massachusetts is too tenant-friendly for you to be a successful landlord
  • You can’t evict a tenant with children during the winter
  • It takes up to six months to evict a tenant
  •  It is illegal to evict a tenant within 7 days
  •  You can never collect on a judgment even if you win

You will learn:

  • How to avoid the problem in the first place
  • How to structure your rental agreements properly so you win if you end up in court
  • Some “silver bullets” to help you through the eviction process
  • Collecting the moolah!

Brian has been a Massachusetts landlord for over a decade, and is the president of the Northern Worcester County Landlord Assn.  He has been honing his process for working with tenants and is going to help make a landlord’s life easier.


Tuesday April 23, 2013
- Waltham, MA 

This is
the
second part of the very popular presentation on
Estimating your Rehab in 20 minutes

Are you missing out because you're too slow?
Part II:  Interior
  
If you missed the first half of this series, or even if you didn't, be sure to mark your calendars this time!
  • Do you need a Quick and Dirty way to estimate your rehab?    
  • How does 20 minutes sound?  
  • Are you a Wholesaler seeking ways to get a quick rehab estimate? 
  • Are you a rehabber looking for ways to submit offers faster?  
  • While you're waiting for your contractor, does someone else get it under contract?  

This is the second of two parts on rehab estimating, and covers exterior repairs and mechanical systems, presented by Julio E Vega.    We're going to go through a property and give you the "Rules of Thumb" that will help you do the Quick and Dirty estimate in about 20 minutes.  This is not a substitute for going through the property with your contractor in detail, or developing a detailed scope of work and contract, but will allow you to quickly estimate what a rehab will cost so you can make an offer on the spot.

 

You will see:

  • Actual numbers
  • Sample photos of what we are discussing

Tuesday April 16, 2013
- Worcester, MA 

Opportunities in Bankruptcy

(finding deals from the records,

not declaring bankruptcy yourself!)

Attorney Peter Hatem will give us the inside scoop on how to find opportunities in Bankruptcy. 

You will

·    Understand the different types of bankruptcy and where the opportunities are

·    Learn about “property of the estate”

·    Hear information on Schedules A and D – and why they matter to you

·    Get a rundown on how to find the deals, including websites and Section 363 sales

Bankruptcy is a little understood and largely overlooked opportunity in real estate investing.  Peter has been practicing bankruptcy law in Massachusetts for almost 25 years, so he has huge insight to pass on to the group.


Tuesday March 26, 2013
- Waltham MA
Networking After Hours
13 Insurance Myths 
for the Real Estate Investor

You don’t know what you don’t know.  And it’s what you don’t know that gets you every time!

Insurance for real estate investors is largely misunderstood and is frequently purchased without a solid understanding of what the buyer is getting.  For example, do you know:

·        If you buy a property subject-to, and are named additional insured on the seller’s policy, are you covered?

·       What kind of insurance will leave you with no coverage if you buy a rehab property in your LLC name?

·       If your umbrella policy covers your 5-unit?

·       How a previous claim filed by the seller affects your rates?

·       What the acronyms really mean?  ACV, RC, ITV – and what it means to your rates and your coverage?

·       What self-insurance really means?

·       What kind of policy you need as a rehabber with an empty construction project?

Now before you start snoozing here, remember that insurance costs hundreds of dollars per year, or even per month if you have multiple properties.  And if you have the wrong insurance, and file a claim,  THEN is when you find out you’re not covered properly! 

Tim Norris specializes in insurance for real estate investors and has spoken nationally on the subject for 15 years.  He can help you get the most out of your insurance dollar and will be available to answer questions.


Tuesday February 26, 2013 - Waltham

Are you missing out because you're too slow?
  
  • Do you need a Quick and Dirty way to estimate your rehab?    
  • How does 20 minutes sound?  
  • Are you a Wholesaler seeking ways to get a quick rehab estimate? 
  • Are you a rehabber looking for ways to submit offers faster?  
  • While you're waiting for your contractor, does someone else get it under contract?  

This is the first of two parts on rehab estimating, and covers exterior repairs and mechanical systems, presented by Nick Aalerud.    We're going to go through a property and give you the "Rules of Thumb" that will help you do the Quick and Dirty estimate in about 20 minutes.  This is not a substitute for going through the property with your contractor in detail, or developing a detailed scope of work and contract, but will allow you to quickly estimate what a rehab will cost so you can make an offer on the spot.

 

You will see:

  • Actual numbers
  • Sample photos of what we are discussing
 
 
Tuesday January 22, 2013

Advanced Tax Strategies: Keeping more of Your Real Estate Profits

Who thinks taxes are going down?

Not anyone I know. So, now that you’re doing more deals, it’s time to look for creative strategies to save on taxes and protect what you’ve made.

At our JanuaryNetworking After Hours, you’ll learn:

· Choosing the right entity for your type of real estate investing (it matters!)

· Nevada, Delaware or Wyoming corporations – now you can find out the real deal about whether to pay those big bucks for foreign corporations, or whether you should take a pass.

· Overlooked business deductions - Comparing tax deductions across the various types of entities

· Advanced and sophisticated strategies for tax reduction and asset protection utilizing entity structure

Many of us have heard Joe Craft (CPA/PFS, CFP) speak at the local REIA’s, and he’s done a great job educating us. Now he’s here at Black Diamond to cover material he’s never presented before. These are the more advanced techniques he uses with his sophisticated clients—not a beginner’s overview.

Believe me, as they said in the ad, “This is not your father’s Oldsmobile.” (I say, “Good thing, Oldsmobiles are history anyway!”)


Tuesday December 18, 2012, 6:30PMNetworking after Hours

Why is Black Diamond giving away an iPad? 

  • Because it’s cool
  • Because we can
  • Because we want you to come to our Christmas networking party
  • Because now that we’ve bought it, we can’t just let it sit there
  • Because Julia said a $25 gift card to Home Depot just wasn’t cutting it
  • All of the above (and Julia really did say that the gift card was lame)

 

Our December “Networking After Hours” will have

 A different kind of networking format, so you’ll know who you want to connect with – BRING LOTS OF BUSINESS CARDS TO THIS ONE, not just a few

Door prizes, including the aforementioned iPad!  (You must actually be in the room to win.)

 Cash bar and menu

A Special Guest Speaker giving a very short presentation – I guarantee you've never heard of or seen this guy before!

Plenty of people in the room with loads of experience and contacts - we are THE real estate investing network in Massachusetts

Less sitting in a chair listening, and more interactive networking


Tuesday November 27, 2012, 6:30PM - Networking after Hours
If You Think Your Phone is Soooo Smart…

Then why aren’t you using it to save you time and money?

 

As full-time investors, we personally spend 50% of our time outside of the office, visiting property leads, running analysis, checking in on the progress of rehabs, managing contractors, and meeting with potential investors or business partners. 

Sound familiar?

While out drumming up business, we’ve figured out a way to stay connected to the office, the place where all that business is executed.  So, even without access to the  fax, desktop files, and MLS, we use mobile technology to cut out lag time, avoid miscommunications, and get more deals done.

Join Us on November 27th at 6:30pm

Learn how using the right Mobile Apps can:

·         Give you a competitive advantage

·         Allow you to be more flexible

·         Make your business 100% more efficient

Being efficient plays a huge part in keeping you and your team motivated and focused, while minimizing frustrations all around.

We’ve compiled a list of the best mobile applications for Real Estate Investors and narrowed that list down to the Top 5 Apps. These featured apps allow you to:

… Help manage your projects and teams

…Stay on top of new properties as they are listed and price changes

…Pull comps on site

…Manage properties on the fly

… And the coolest real estate app we have ever seen!

Not only will you discover which apps are best, you will get instructions on how to optimize them for your business.

At Networking After Hours, our purpose is to get active investors together to share ideas and we encourage stimulating dialogue.  If you already use a business-boosting app, don’t be afraid to speak up! 

(It should be noted that, “Angry Birds” does not qualify as a business-boosting app, nor does the dangerously addictive mobile version of Scrabble.)

Networking After Hours Events Feature:

·         Free Events

·         No Membership Costs

·         Non-Selling Speakers

·         Great local topics presented by people actually doing it

·         30 seconds that you can tell your story

·         Casual relaxed fun atmosphere

·         No network marketing

·         And did I mention it was free?

Join us for a drink, dinner or a snack, and network with those who are doing.  We are the next new thing, and want you to hang out with us.


Tuesday October 23, 2012, 6:30PM - Networking After Hours

House Buying Horrors

Listen to these Nightmare scenarios before you buy your next property!

Check these out, they can happen to you!

The father owns the property, but guess who sold it to you?  (Hint:  Not the owner!)

  • Bought any meth labs lately?  Are you sure?
  • Could you end up with a hazardous waste dump without even knowing it?
  • Is that pet odor really just cat pee?
  • Think TSA is bad at the airport?  Wait til Homeland Security attends your closing!

How can you protect yourself from these?  Is it even possible?

Attorney Meghan Grugnale has a library of Horror Stories just in time for Halloween. 

Meghan is a real estate attorney licensed in MA and NH, and is third generation in her firm.  Which means she and her firm have plenty of experience dealing with the unexpected.  She’ll discuss the pitfalls to watch for, and how you can protect yourself from the unimaginable.

Our host, Antonio of Ristorante Marcellino, will have a bartender and server available for you to order dinner and drinks if you like, so come early and network with us.  They will be serving downstairs before the meeting, and upstairs during the meeting.   The food is great, the networking will be fantastic, and the speaker will be awesome!

Tuesday October 23, 2012

Networking 6:00 PM

Program 6:30 PM

Ristorante Marcellino, 11 Cooper Street, Waltham, MA
 
 
~~~~~~~~~Archive~~~~~~~~ 

 

Tuesday September 25, 2012, 6:30PM - Networking After Hours

Inside the Brain of the REO Banker

Ever wish you could figure out what the Asset Managers at the banks are thinking?

 

You may ask yourself:

  • Why haven't they listed that property they took back at auction 14 months ago? Can I submit an offer? How?
  • I left a message for the listing broker 3 times, why hasn't he returned my call? Doesn't he want to sell the property?
  • I submitted an offer $5,000 over list, never heard back, and now I see the property sold for $10,000 below list? Why didn't they take my offer?
  • Why can't I take title in my entity?

If you've ever asked these questions, and never gotten a good answer, here's your chance.

Our featured speaker works daily with asset managers of many of the top REO banks, and knows what will fly and what will crash and burn. He's frank and direct, doesn't waste your time, and tells it like it is.

 
 

Jack O'Leary is an REO listing broker with RE/MAX Landmark and is VP of the National REO Brokers Assn.

Come and hear:

  • The REO business from the brokers and the bank's side
  • Tips for buyers of REO's: what to do and more importantly, what NOT to do
  • How to use the Asset Manager's incentive structure to your advantage (Hint: Your offer has a much better chance of being accepted)

Come and hear how it really is from the inside, but be warned, it may not be what you WANT to hear!

 
 

Our host, Antonio of Ristorante Marcellino, will have a bartender and server available for you to order dinner and drinks if you like, so come early and network with us. The food is great, the networking will be fantastic, and the speaker will be awesome!

 

Tuesday September 25, 2012

Networking 6:00 PM

Program 6:30 PM

Ristorante Marcellino, 11 Cooper Street, Waltham, MA

 
 

 

If you’re not a contractor, with Home Depot’s database in your head, how do you estimate your rehab budget on a redevelopment project?

·         Do you spend days waiting for your contractor to show up to give you an estimate?

·         When he does show up, is it days more to get the numbers?

·         While you’re doing all this waiting, does someone else get it under contract?

·         Are you missing out?

We’re going to go through a property and give you the “Rules of Thumb” that will help you do the Quick and Dirty estimate in about 20 minutes.  This is not a substitute for going through the property with your contractor in detail, or developing a detailed scope of work and contract, but will allow you to quickly estimate what a rehab will cost so you can make an offer on the spot.

You will see:

·         Actual numbers

·         Sample photos of what we are discussing

Our first half of this discussion will include exterior repairs and mechanical systems. Interior to follow at another meeting.