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Updated 11 months ago,
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