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Updated almost 3 years ago on . Most recent reply

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Enrico Bertini
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Starting out, what are my best options?

Enrico Bertini
Posted

Hi, I am really attracted by the idea of investing in RE but I am uncertain which way to go. Here is a summary of my situation and constraints.

- Just moved to Brookline, MA where I am renting. Properties are really expensive here
- I have some small amount stashed away I'd like to use to get started (in the order of a few 10k)
- I am considering two options: house hacking or short-term rental properties nearby (including NH and ME)

House hacking seems hard because we do not want to move to a different area and properties are quite expensive around here. We are also a family of 5, which means we would need to find a pretty big property in order to have a duplex. But maybe not impossible?

Regarding STR properties, I like the idea to find a nice area around here and rent it on AirBnB. It seems more doable to me because the amounts are much smaller.

As a side note, I am not planning to make RE investing my main occupation. I have a good job and I am happy with it but I would be excited to start in RE.

What advice do you have for me?

Most Popular Reply

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1,473
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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
1,990
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1,473
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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
Replied

@Enrico Bertini
If you're not able to invest locally or are not able to get the returns, you are looking for you should invest out of state. I would recommend looking in the Midwest. Columbus OH is a great place to start looking in the Midwest. It's a nice balance of cash flow and appreciation. Also, it has lots of job opportunities and population growth. I also live and invest locally here in Columbus.

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