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Updated about 1 year ago on . Most recent reply

Resident Physician in Boston Seeking Advice on Real Estate Investing
Curious to hear people's thoughts on whether or not to look into property investments in the Boston area, most likely the suburbs since Boston city is way too expensive. I'm interested in looking for a 2 bed and bath house in the suburbs that's not too far from my workplace. Areas like Jamaica plains, Brighton, and Allston seem like good places. The median rent for those kinds of places is 3.5k/mo.
However, I also have student loans of 123k with fixed interest from 4.3-6.3% and a car loan of 25k at ~8% rate.
Is it even feasible and advisable to try to purchase a house to invest in? I would be living in the house with 2 other roommates to hopefully offset the mortgage and other expenses. There is also the thing of a physician loan where I wouldn't have to put a down payment on the house and secure a loan although I would want to try to aim for a fixed rate (or maybe variable since interest rates are potentially going to be cut in the future?)
Hoping to hear other people's thoughts and suggestions, especially those of you who are or have been in my shoes before.
Thanks
Most Popular Reply

Hi Yuqing,
I agree Boston is expensive! In general, my advice to you would be to get a good financial advisor and ask some of your questions to get started with what you're looking to try and do. The investments you're looking to do would definitely be longer term and it's always a great idea. But I'm not sure we have a full picture of your finances to advise you directly.
Speaking to a financial advisor will help give you an idea of what you'd be comfortable spending and establishing those boundaries for yourself will help dictate the area you might want to look for. Finding good income generating properties does open up some creative financing opportunities but it's good starting out to stick to a comfort range.
- Erik LaBonte