Boston Sweat Equity SFR or Owner Occupied Multi-Family

[Jeff M.]

Hello everyone at BP,

My fiancee and I currently rent near the Allston/Brighton border and plan to live here long term since we can both walk to work, the grocery store, and entertainment. We have $300k in liquid assets, but would prefer to only put 20% on a SFR fixer-upper with asking price under $400k and I would enjoy doing the rehab myself.

Since a lot of the houses in the area are multi-families in the $600k's, we would consider owner-occupying one. If this is the case, it seems difficult to get good cash flow, but I am okay with that as long as it is not negative.

I check the MLS daily and have a good feeling for the market. I am not in any rush to purchase until the right property comes along, at which point I will act quickly.

I look forward to feedback on any part of my situation, but specifically I am wondering whether to use a buyer's agent or just an attorney to look over the paperwork since I am doing the searching. If I should use a buyer's agent, I would appreciate a recommendation from the myriad of choices in the area! Thanks in advance.