New Investor - Northwest of Boston MA

[Kevin Degnan]

Hi folks,

I’m new to the real estate world, but lately I’ve been doing a ton of research on rehabbing and flipping distressed properties.  Personally, I love the idea of new construction.....yes, it requires more financing, but you can start with a clean slate and build from the ground up, so there should be less surprises for the investor.  Specifically, I've had my eye on modular construction for a couple years now.  I wanted to build a modular home for my family last year, but between finding a suitable property and the trouble of selling our current home at the time, it just didn’t happen. 

Lately, I’ve been thinking….why not do this for another family?  Seems like a profitable part-time venture, and something that I would actually enjoy doing.  I can design a floor plan and hire or partner with a reputable builder/contractor, and I'll secure financing and work with a realtor.

My target market is northwest of Boston, along Route 3.  I live in Westford and I work in Bedford, so those towns as well as Burlington, Billerica, and Chelmsford make the most sense to me.  I'm not quitting my day job either.....just one property at a time for now, as supplemental income.

By the way, I had never heard of Bigger Pockets until I started searching around to see if other people were doing this….then I stumbled onto a modular flipping article by Mike LaCava.  This site is awesome!  It’s really nice to see people helping each other out in what I initially thought was a really cut-throat industry. 

Thanks,

Kevin

[Robbie Reutzel]

Hi Kevin,

Welcome to BiggerPockets!

You will find that this is a great resource for REI. I would suggest reading the Ultimate Beginner's Guide as well as J. Scott's books on flipping and estimating rehab costs since you seem to be focused on flipping.

Listen to the podcasts as well.  

I also suggest you start attending REIA. Black Diamond has one in Waltham and Shrewsbury and Justin Silverio's networking event is this Wednesday at Sam's Bistro in Reading from 6:30-9:30.

Good luck!