New Member Settling down in Worcester, MA

[Michael C.]

Hello Everyone... Just left a message on the new members board introducing myself.. don't want to repeat too much but I've worked in a traveling engineer position the last 4 years which has had tremendous monetary perks.. unfortunately the work is slowing down and I've been offered a permanent position in the home office in Worcester, MA. I've paid off all debt and come July when I move to Worcester should have 115K-125K in the bank. At that time I'll be working a full time job at 70k/year but want to get the money I have in the bank to work for me.

My original thought was to put about 50k money down on a 3 or 4 unit multi family home (cost about 150k and rent for about $1800 - $2500)... the use another 50k down on either a duplex or a home that has something like an in-law suite to rent out.. I've worked out the numbers and the rent would cover all mortgages and would create around $700 - $1000/month cash flow....

After reading through this site the past few days I'm realizing that maybe there may be some different or better options for making more money.... I'd love some input from more experienced investors regarding what they'd do if they were in my position... I want to review possibilities as much as possible so that when I move to Worcester I can hit the ground running. My company will set me up with a rent free apartment for the first three months which will be a nice transition period... Can't wait to hear your ideas.. Thanks.

Mike