New Investor(s) from Boston / WA

[Corey Fick]

Hi Everyone, I wanted to introduce myself as a new investor in the Boston area. 

I've been a long-time lurker of BP, but am finally finding the courage to start RE investing on my own. Technically, I'm starting a RE business with a couple family family members in Vancouver, WA. All of us have been itching to get started, and I'm excited to say that we are finally doing it.

We are still in the process of setting up the LLC and will be buying our domain later today once we confirm the availability of the name, but I would love to connect like-minded investors in Boston or WA.

I work in the non-profit sector, and have a background in online-marketing, so if anyone needs help a little with their website, I'd be happy to help other members of this community.

[Donald Morrison]

I am an agent. I was asking as connecting with people in Boston and looking at properties here are two different things. Living here you will have noticed the surge in rents and thus sale prices (there is also a huge push to live in towns with good school systems which is driving single family homes as well as condos). Financing isn't your problem here but rather competition in the form of cash, foreign money eager to get into the US and developers who can muscle you out (here the financing does come into play as a developer is a safer bet and a long term return client).

If you focus closer in to the city go for the best property possible. Good building, good condo association (is applicable) and overvalue any parking it has, trust me. Outside of the city go for more units in one property. Raising the rent $25/mo on six 1 beds is easier than getting a $150/mo bump on a unit or two. Hyde Park, Dorchester, Milton (maybe), Watertown, Quincy (depending on the part given the size, you want closer to the city or a Red Line stop).

If you have the money and/or the ability to renovate you could take on a beat up property. Just know the expenses involved.

Anything lead-paint free or certified treated is huge. There aren't a lot of lead-safe apartments. Accept a dog and you will have people banging down the door (in the right school system). Speaking of schools: long term Boston's school will get better not that the bussing is unravelling. The tech sector is bringing in young talent that will occupy those spaces in the mean time. Just ride the Red Line through South Station from Downtown a weekday morning around 7:45am. The entire train is full and empties at South Station. These are the renters that will pay for your investment.