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Updated almost 4 years ago on . Most recent reply

User Stats

5
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Matt D'Amore
  • Rental Property Investor
  • Massachusetts
1
Votes |
5
Posts

Massachusetts house hacking advice

Matt D'Amore
  • Rental Property Investor
  • Massachusetts
Posted

Hi All! My name is Matt D'Amore and I am 24 years old. I have been taking the steps to purchase my first house hack for about 6-8 months now. Getting pre-approved, working with a real estate agent, checking out the few multifamilies and single families for sale in my area, etc.  Living on the south shore of Massachusetts, I have realized that even the few multifamily homes and many single family homes for sale are way out of my price range or if they are in my price range, given the current market, are scooped up fast or are purchased well above asking. I currently live in my hometown with parents so I am saving a lot of house costs and work full time in my hometown so travel to work is not a big expense either. I would like to remain close to work to continue to mitigate my travel expenses, however getting into real estate is my number one goal at the moment. I am looking for any and all advice on how I should go about breaking into an expensive market like the coast of Massachusetts to do a house hack. Thank you in advance for your help!

  • Matt D'Amore
  • Most Popular Reply

    User Stats

    974
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    637
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    Mason Hickman
    • Real Estate Agent
    • Sandwich, MA
    637
    Votes |
    974
    Posts
    Mason Hickman
    • Real Estate Agent
    • Sandwich, MA
    Replied

    @Matt D'Amore

    A few ideas to make your offer more compelling:

    1. Larger earnest money deposit - you can still back out assuming you have an inspection contingency in place

    2. Allow the owners to leave any personal property they want to - some sweat equity can make your offer stand out and can really be the difference maker to some sellers

    3. Write a "Love letter" to the sellers - an old tried and true method that can tug at the heartstrings if done well

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