My Introduction

[Justin Schmitz]

Hi guys, my name is Justin and I am just a little guy in the real estate ranks. Although I have had my mind on RE for 5-6 years now, it's just no time has ever felt right to just jump right in, and so, I have just been sitting here being inactive and living in a world of what if's and theory, which I am sure many of you can relate. I'll be turning 29 in June, I have a decent job in downtown Boston as a software engineer, but I am still unhappy that I have not yet started on this venture in real estate, especially since it has consumed so much of my mental thoughts. Anyway, I have been listening to the podcast here at BP and soaking in as much as I can.

My goal like many of you here, or the goal that makes the most sense to me is investing in multi/single family homes long term and renting them out. At the moment I really have no interest in flipping, wholesaling, etc. I want to keep things as simple as possible. I'm sure there are plenty out there that would argue that these are niches are doable, but based on my own sense of comfortability, I am generally risk adverse and if I don't understand something I tend to walk away until I have time to pursue it in more detail. Don't know if this is a hindrance.

My roadblocks... Boston man, while I have listened to these podcast, I can't help but feel like Boston is way overpriced right now. It feels like it is cheaper to rent than to own. Should I be looking elsewhere while I'm starting out? I do not own a car right now, so it is sometimes a problem to get out and about to look at open houses and other opportunities, especially if they are out of the city. Lastly, I just have an overwhelming sense that I am simply stuck, dead in the water before I have even started. Is this normal?

Real estate has been something that has been on my mind for way too long and to have not taken a single step is really disheartening. I am here on BP first and foremost, to learn as much as possible, but to also build relationships with other like minded folks. I have asked a couple of questions already here at BP and everyone has been so gracious, this really is a seemingly great online community, so thank you so far.

[Shaun Reilly]

Hi Justin, welcome to BP.

This is a great place to learn. Make sure to listen to all the BP podcasts, read the articles on the main blog and be active in these forums to learn a ton very quickly about any topic in real estate you want to know more about.

This is also a great place to meet people that can be assets to your business. Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.

Besides doing that on here make sure to get out to some of the many local investor events we have. Not having a car will make some things more challenging. I am pretty sure you can get to the Black Diamond meeting in Waltham. Not sure how but I see lots of MBTA buses on Moody St. (Place in on a side street just a short walk form there). Also the Boston Area REIA in Medford is fairly T assessable. Most others will probably be complicated. :)

Boston and the whole greater Boston area has ridiculous rent to price ratios for most anything. It is not easy to get any cash flow in most single or small multifamily places in and around the city. You have a shot with some condos if you can get them cheap enough and the fees aren't bad. You will have better luck looking at the regions in and around the next tier of cities (Worcester, Springfield, Lowell, Lawrence, Brockton etc.).