Newbie from Boston

[Alex T.]

Hi,

I've been lurking the forums for a while, but haven't considered investing until now. I have no background in real estate (I've only been investing in stocks before), but I am familiar enough with how the typical process works from reading. I have a full-time job, so I'd prefer income-producing property rather than flipping, which would be a full-time job in itself. I don't mind putting some sweat equity in, however. I was thinking of starting with a multi-family, since I don't currently own a house either (but my rent is also ridiculously low, so if there are better alternatives, I'm open to them).

One thing I'm discouraged by is that I can't seem to apply the advice from the forums to the properties I've seen here in Boston. Neither the 50% nor the 2% rule seem to hold anywhere near Boston area, and the kind of crazy appreciation we've been seeing in this area can't go on forever. I was considering looking at areas further out but I'm afraid of having to commute there several times per week. I'm also worried of buying a place in an area I know nothing about. I understand that a lot of my fears come from inexperience and hopefully the more experienced members living in Boston area can dispel them and provide some guidance.

Thanks