Massachusetts investing for a new investor

[Ryan Passamonti]

Hi all,

Im 20 years old and want to get started investing in real estate as soon as possible. I live in Worcester, MA as I've been doing my due-diligence I've realized Worcester's market is pretty inflated at the moment. I've been looking at other market's such as Providence RI or Fall River area. My question is what is a good market to invest into particularly in multifamilies. Open to all ideas im young and able to move if need be. Also, any advice to a new investor will be greatly appreciated.

Thanks,

  Ryan.

[Anthony Thompson]

@Ryan Passamonti if you’re just getting started I’d recommend buying a small multi (2 or 3 family) within a half hour of where you live, just because you’ll be spending more time than you expect visiting the property for one reason or another.

So I would say the best property in the best area that you can reasonably afford, reasonably close to where you live - close enough that you wouldn’t mind riding by on the way to or from your job, for example.

If you're thinking about investing in Rhode Island I'd recommend visiting one of the RIREIG meetings, for southern Mass in general I also recommend Black Diamond REI.

There’s a Fall River based group that I’ve heard good things about, South Coast Real Estate Investor meetup, but I haven’t been yet myself so I can’t recommend it from personal experience. But I’ve been to the two other ones and recommend them because both are education and networking oriented (i.e., don’t try to sell you stuff).