New from Boston - Maybe Heading to Central Florida

[Jennifer Connolly]

Hi everyone! Been lurking for about a week and I've already read the Beginner's guide and started listening to podcasts. I have never owned real estate.

After being self-employed for several years doing online marketing I went back to having a JOB about a year and a half ago due to, ahem, extreme fluctuations in income. I have been wracking my brain ever since about new business ideas, but I keep coming back to real estate which makes more sense to me than other options.

I have never owned before and at the moment my credit is great and my income is so-so, but I'm hoping to make use of that circumstance by taking advantage of some low-to-mid income first time home buyer opportunities to get into a duplex or three family as an owner occupant. Massachusetts has a lot of different programs, including down payment assistance through forgiveable loans, etc. I have 10K in cash as well and can probably pull another 10K from an IRA, but if it is not necessary I'd rather hold onto that money to invest later.

I will be joining my employer's remote workforce and am currently negotiating to be able to work "remote" from out of state -- namely Florida. Right now, our "remote" team is only semi-remote as everyone lives in MA and does a few days to a week in the office once a month.

So, if they approve me for out of state telecommuting, I'm moving to the Orlando area and will look for property there and if not, I'll most likely be looking in Worcester county or somewhere else in Massachusetts that isn't Boston (which I can't afford!). I would love to look at the Pioneer Valley, such as Northampton or Eastampton, but I think Worcester county numbers work better for me. Although I am open to suggestions through New England as if I do end up staying, I can stay with my folks in West Roxbury whenever I'm at the office.

I have an appt a week from Tuesday at the Neighborworks center in Worcester to go over my finances and suss out some of my gameplan as I figure that info will be valuable regardless of where I end up. Hopefully I will get to the Black Diamond meeting that night too since it is not far from there!

Now back to reading! :)

[Jennifer Connolly]

@Account Closed thanks Greg! I really really really hope they let me go! I've been looking at Lakeland and Winter Haven as potential locations. One thing I like about what I've seen of some of the multis in Florida is that quite a few are actually separate units so shared lot, but no shared walls. That really appeals to me. And the prices appeal to me too! And the lack of snow :)

Thanks, @Paul Timmins , how far South Shore? To be honest I haven't really even looked at it even though it is closer to where I live. I've spent a lot of time in Worcester county this year for my employer so that seemed like a natural.

Thanks @Mehran K. , bad tenants scare me, but I my plan is to only live in the property myself long enough to satisfy the owner occupancy requirements. Of course, that could be 5 years with some of the down payment assistance loans I'm considering, so maybe that's a bit too long! I am seriously considering not managing myself at all and just hiring a property manager immediately and never letting my tenants know I'm the owner.

@Steve Smith , thanks for the welcome! I hope I get to join you and Greg in Florida!

@J. Martin Thanks for the welcome too!