From Frenzy to Formality:  Systemizing your business

frenzyAre 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 emplogrowthyees 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.)

Who:  all are welcome, free to attend

What:  The best real estate investing networking in Massachusetts

Where:  Leo’s Ristorante, 11 Leo Turo Way, Worcester, MA

When:  Tuesday, June 20, 2016, 6PM Networking, 6:30PM Program starts

~~~~~~~~~~~~~~~~~~Past Events~~~~~~~~~~~~~~~~

Wednesday February 12, 2014 – at NHREIA.com Manchester, NH

Save your gas, sit on your @$$

 (On your computer)

Multi-family screening from your pc

(No this is not a webinar, you must come to the event.  It teaches you to screen deals before you drive to them!)

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? cash-cow

 Ann Bellamy will 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

lipstickpigThese 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.

When:  Wednesday February 12, 2014

Networking: 6:00PM

Program starts: 6:30PM

Where:  Best Western Executive Court, S Willow St Manchester NH next to the Yard Restaurant

Networking After Hours 

Black Diamond Real Estate Investors

www.blackdiamondrei.com

 

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 in 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:
    • Out of court amicable solutions
    • In court solutions
    • OMG solutions!
    • 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

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

 

Tuesday February 18, 2014

6PM Networking

6:30PM Program

New Worcester Venue!!

Buca di Beppo, 7 Boston Turnpike
Shrewsbury, MA 01545

Tuesday, November 19, 2013 – “Networking After Hours” – Waltham, MA!

Be Careful who you Marry!

Deal  Structuring with Partnerships

 

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?

“Win-Win” terminology comes to mind.  A deal has to work for all the partners, and risk taken into consideration when structuring the roles and compensation.  Peter McLoughlin 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.

When:  Tuesday, November 19, 2013

Networking: 6:00PM

Program starts: 6:30PM

Where:  Ristorante Marcellino

11 Cooper St

Waltham, Ma  02453

https://maps.google.com/maps?q=11+cooper+st+waltham+ma&oe=utf-8&client=firefox-a&hnear=11+Cooper+St,+Waltham,+Massachusetts+02453&gl=us&t=m&z=16

Tuesday, October 15, 2013 – “Networking After Hours” – Worcester, 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 & Sizzle features
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 interior repairs and sizzle features, 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, October 15 2013

6PM Networking

6:30PM Program

New Worcester Venue!!

Coral Seafood  225 Shrewsbury St  Worcester, Ma  01604

Tuesday, October 22, 2013 – “Networking After Hours” – Waltham, MA!

Are there Opportunities in Environmental Hazards?

Do you hear “oil spill” and drop the project faster than you sold your BP stock?Acid-Indigestion-Symptoms 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 technical and legal 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.

When:  Tuesday, October 22, 2013

Networking: 6:00PM

Program starts: 6:30PM

Where:  Ristorante Marcellino

11 Cooper St

Waltham, Ma  02453

https://maps.google.com/maps?q=11+cooper+st+waltham+ma&oe=utf-8&client=firefox-a&hnear=11+Cooper+St,+Waltham,+Massachusetts+02453&gl=us&t=m&z=16

Tuesday, September 24, 2013 – “Networking After Hours” – Waltham, MA!

Save your gas, sit on your @$$

 (On your computer)

Part II:  Multi-family screening

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? cash-cow

 Ann Bellamy will 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

lipstickpigThese 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.

When:  Tuesday, September 24, 2013

Networking: 6:00PM

Program starts: 6:30PM

Where:  Ristorante Marcellino

11 Cooper St

Waltham, Ma  02453

https://maps.google.com/maps?q=11+cooper+st+waltham+ma&oe=utf-8&client=firefox-a&hnear=11+Cooper+St,+Waltham,+Massachusetts+02453&gl=us&t=m&z=16

Buffet dinner is available for $18 pp all inclusive of tax and tip from 5:45 to 7:15PM.  Dining room downstairs opens at 4PM til 9:30, so bring your friends, meet for dinner and enjoy the presentation

Tuesday, September 17, 2013 – “Networking After Hours” – Worcester, MA!

Encore presentations!

This is the first part of the very popular presentation on

Estimating your Rehab in 20 minutes

Are you missing out because you’re too slow?
Part I:  Exterior and Mechanicals
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 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, September 17 2013

6PM Networking

6:30PM Program

New Worcester Venue!!

Coral Seafood  225 Shrewsbury St  Worcester, Ma  01604

Tuesday, August 27, 2013 – “Networking After Hours” – Waltham, MA!

Save your gas, sit on your @$$

(On your computer)

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 based 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.

 

When:  Tuesday, August 27, 2013

Networking: 6:00PM

Program starts: 6:30PM

Where:  Ristorante Marcellino

11 Cooper St

Waltham, Ma  02453

https://maps.google.com/maps?q=11+cooper+st+waltham+ma&oe=utf-8&client=firefox-a&hnear=11+Cooper+St,+Waltham,+Massachusetts+02453&gl=us&t=m&z=16

Buffet dinner is available for $18 pp all inclusive of tax and tip from 5:45 to 7:15PM.  Dining room downstairs opens at 4PM til 9:30, so bring your friends, meet for dinner and enjoy the presentation

Tuesday, August 20, 2013 – “Networking After Hours” – Worcester, MA!

The City of Worcester wants to give away money!

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 16, 2013 – “Networking After Hours” – Worcester, MA!

12 Brains to Pick all at once!

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, Short Sale Mitigation, LLC
  • Lending table :
    • Hard money – Ann Bellamy, Buy Now, LLC
    • Residential – Rob Benson, Gladewater National Bank
    • Commercial –  >Patrick Royce, Webster 5 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

6PM Networking

6:30PM Program

Drinks are available before, during and after the meeting.  What’s more fun than an Irish Pub?  Please note there is no food service at this meeting.

Fiddler’s Green

19 Temple Street

Worcester, Ma 01601

Fiddler's Green

Tuesday, July 23, 2013 – “Networking After Hours” –

Waltham, MA!

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 as 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.

What:   Black Diamond Real Estate Investors:  www.blackdiamondrei.com

A free event open to seasoned and beginning real estate investors and related professions.  We encourage networking, bring lots of business cards!  You will also have an opportunity to present your wholesale deal or income property for sale if you are the principal.  No retail MLS listings.

When:  Tuesday, July 23, 2013

Networking: 6:00PM

Program starts: 6:30PM

Where:  Ristorante Marcellino

11 Cooper St

Waltham, Ma  02453

https://maps.google.com/maps?q=11+cooper+st+waltham+ma&oe=utf-8&client=firefox-a&hnear=11+Cooper+St,+Waltham,+Massachusetts+02453&gl=us&t=m&z=16

Buffet dinner is available for $18 pp all inclusive of tax and tip from 5:45 to 7:15PM.  Dining room downstairs opens at 4PM til 9:30, so bring your friends, meet for dinner and enjoy the presentation.

Tuesday, June 18, 2013 – “Networking After Hours” –

Second Location in Worcester, MA!

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!”  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 in the ground.  <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.  (Please note, if you are in New Hampshire, you can take most of his numbers and cut them in half).

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, June 18, 2013

6PM Networking

6:30PM Program

Drinks are available before, during and after the meeting.  What’s more fun than an Irish Pub?  Please note there is no food service at this meeting.

Fiddler’s Green

19 Temple Street

Worcester, Ma 01601

Fiddler's Green

Tuesday, June 25, 2013 – “Networking After Hours” – Waltham, 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?

And much more.  This will be an interview format, so bring your note pad .  There will be plenty of time for interactive questions.  There will not be a power point presentation to download.

Tuesday June 25, 2013

Networking 6:00 PM

Program 6:30 PM

Ristorante Marcellino, 11 Cooper Street, Waltham, MA

 

 

Tuesday, May 28, 2013 – “Networking After Hours” – Waltham, MA!

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 speak 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

This presentation will be jam-packed, so don’t miss out!  Space at our Waltham location is limited, and is first-come, first-served, so plan to arrive early if you can.   You can order dinner upstairs or down, and overflow networking will be in the bar downstairs if the room is full.  Our last meeting filled up before the speaker started.

Tuesday, April 23, 2013 – “Networking After Hours” – 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 March 19, 2013 – Worcester location

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 – “Networking After Hours” – Waltham, MA!

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 – “Networking After Hours

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.

Tuesday, January 22, 2013 – “Networking After Hours”

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 January Networking 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 – “Networking After Hours Party”

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 about the gift card)

 

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

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 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.)

~~~~~~~~~~~~~~Past Events~~~~~~~~~~~~~~

 

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

Tuesday September 25, 2012

Ever wish you could figure out

what the Asset Managers at the banks are thinking?

  • Why haven’t they listed that property they took back at auction 14 months ago?   Can I submit an offer? Wondering    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 6PM

Program 6:30PM

Ristorante Marcellino

11 Cooper Street, Waltham, Ma

Ristorante Marcellino

Sincerely,
Ann Bellamy, Nick Aaleurud, Julio Vega, Daniel Stroe
Black Diamond Real Estate Investors

Ann Bellamy presented:

     “Hard Money Loans – What are they and how do you get one?”

                               Thursday May 10th at 6pm

  • Ann Bellamy has been investing in multi family and commercial real estate since 1997, and has been lending private money since 2006.
  • She was past Treasurer and Board Member of the New Hampshire
    Real Estate Investors Assn and co-founder of the Boston Area Real Estate Investors Assn.

Tuesday May 10th at 6:00.

Central One Federal Credit Union, Community Room
40 South Street (Route 135), Westborough, MA
Fee to attend: FREE and open to the public

 

                                                 

Thank you to all who attended Ann Bellamy’s “Finding Your Niche in Real Estate

                            We look forward to seeing you all again soon!

                                          Ann Bellamy presented

                               “Finding Your Niche in Real Estate”

                                on Wednesday May 2, 2012  6:30-9:00

Topics include:

  •  Different types of involvement in real estate, such as wholesaling, rehabbing, buy and hold, etc
  •  The skills required for each discipline
  •  The relative risk associated with each type of investing
  •  Real world examples of what a typical day is like

If you are sitting on the fence, and can’t figure out what kind of real estate is right for you, here is your chance to consider your options and listen to those who are in the trenches. If you are currently working in real estate and want to join the conversation, please come with your experiences, and throw in your two cents. The presentation will be interactive, so bring your questions.

Please join Ann Bellamy at the  New England Real Estate Investors Association.  

www.NewEnglandREIA.com                           

The Best Western  187 Chelmsford St, Chelmsford, MA  01824

For Directions call the hotel: (978) 256-7511

(Rt495 to Exit 34, Directly Off Exit)