New Investor to New England Area

[Jay Hsu]

Hi All,

I became aware of this group from reading Long-Distance Real Estate Investing by David Greene. I have always been fascinated by real estate, having been a former RE salesperson in NJ and NY. I have excellent role-models in my own family of first-generation immigrants who have invested in RE decades ago and now enjoy total financial freedom before retirement. However, these were done in the NYC metro area long ago which I believe is too difficult for a beginner to start in. 

My partner and I now find ourselves in a strong financial position to start our RE investing journey and have set our sights in New England, specifically Rhode Island due to the excellent natural environment and our desire to ultimately relocate there long-term. I'm aware this bucks the trend of investing in OH, FL, etc. but I think (and hope) positive cash-flowing deals can be found with the right connections. 

Our goals are as follows:

1. BRRRR and hold for cash flow SFR or Multi-Family homes via conventional financing (multi decade time horizon)

2. Build RE portfolio as part of diversified retirement plan (goal of one property per year to start)

3. Identify high quality opportunities (homes with good foundations and structure that will last 30+ more years)

4. Build a team of professionals to work with pursuing mutually beneficial goals (Agents, Contractors, Property Managers, Lenders)

I look forward to meeting more members here and learning more about RE investing in the area. Thanks for reading! 

[Andrew Syrios]

Sounds like a great set of goals Jay, welcome to BiggerPockets and best of luck!

[Anthony Thompson]

Hi Jay, that's a great introduction and it seems like you have an excellent background for real estate.

I have to say it's surprising, like you said, to see someone focusing on RI vs. other developing markets like OH and FL, but with enough work it's still possible to find something that cash flows here, too. And I do like the idea of bucking the trend, being a little contrarian, etc.

If you haven't already done so, I'd recommend attending an upcoming RI Real Estate Investors Group meeting, which meets monthly in person for members and monthly virtually for members and non-members. I've been a member since 2003 and met some of my closest friends and partners in the group.