Real estate investment newbie from Boston

[John Canty]

Hi, I am a mid-40s, full time software developer in the Boston area. Instead of letting our saving depreciate in bank, we would like to invest them in real estate to combat inflation while we can create extra cashflow by renting out the property. I was told a buy & hold of a multifamily property would best meet our financial need. With both our saving combined we *might* be able to purchase a modest two-family house without taking a loan. However, my sister is living outside of this country and my job has taken most of my time, so we might not have enough extra time to handle the house maintenance ourselves. So besides of seeking the property itself, we are also seeking advice if we are choosing the right vehicle to invest

In additions, I have noticed Boston has become a favorite among foreign student from China, which I would image a huge rental market is needed. I'm interested in going after that particular market

Looking forward to network with people in the Boston area as well

[Donald Morrison]

@John Canty , @Ali Boone is quite correct regarding a property manager, you just want to be sure they aren't the type who view your and your account as a cash register (think $100 for having a maintenance guy come through and do 12 minutes work). The reduction of headaches is huge. Just think, you are trying to get to work this morning, the Red Line is down, and your tenant calls about X, Y or Z: you don't need this. Condos carry some of this stress reduction also as you don't have to shovel, clean, do pest control, monitor the roof, fix the roof, monitor the boiler, fix the....you get my point, the association handles that. There is a penalty in that you pay more for this but it is up to you and your situation and your abilities that best dictate what will work for you.

Many experiences with international students are good, though some do go all Johnny Football when they settle in away from the watchful eye of their parents. In reality that is the same for everyone regardless of origin: some party, some hunker down and study. Your care is that, either way, they take care of your property.

My suggestion is to buy something with very little as a starter property. If you can swing something with parking in a congested area do it, parking rates are going up and require very, very little upkeep. Also, don't put all your eggs in one basket, any investment isn't going to be the holy grail.

Feel free to reach out, I could talk specifics on the phone or direct via email.

-Donny

857-389-0060

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