Newbie from Western Massachusetts. Real estate adventure part 1

Newbie from Western Massachusetts. Real estate adventure part 1

Contractor · Northfield, MA · Member since 2015 · 8 posts · 1 vote

Hello all BP guys and gals,

Decided to do a quick introduction to this amazing site. I've been peeking around for the last few months and have recently become more serious about buying an investment property. BP had been incredibly instrumental in helping me decide what I want to do as far as real estate. I'm 25 years old and looking to get a jump into real estate. What I'm mainly looking for in the beginning is to provide some passive income from rental properties. I'm located in Western Mass where the market is somewhat dried up but I believe there is also great opportunity. I'm hoping to buy a multi family (preferable a tri or quad plex) in the coming months and I'm heavily leaning towards getting a FHA loan. The reason being i don't want to invest too much of my Capital in one property, which I will live in for a short while, until I meet the FHA requirement and then use it as strictly rental property.

I'm recently married and combined we have a healthy income. Hopefully I can make the jump into our first property soon. I will track my progress for those who are interested and if any questions arise, I'm sure BP will be there to help me out! 

I look forward to being more active on this site and heating back from all of you.

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  • Real Estate Agent · Bridgewater, MA · Member since 2015 · 8 posts · 0 votes
    11y

    Awesome Igor,

    I just hopped into BP too. Im 21 and looking to do the same. I have my realtors license so Im hoping I can start to build my capital that way in order for me to begin my investing career. I believe you can still find some steals in a "dried" up market. I look forward to hearing how you make out!

    -Stephen

  • Beverly Hills, FL · Member since 2013 · 388 posts · 62 votes
    11y

    @Igor Komerzan

    Welcome to BiggerPockets best real estate investors web site on the web

    I am originally from the other side of the state ( Revere Ma.) moved south a few years ago 

    Want to wish you the best in your real estate adventure

    Make it happen

    Steve

  • Real Estate Agent · Boston, MA · Member since 2015 · 31 posts · 7 votes
    11y

    Hi Igor,

    Welcome to bigger pockets! 

    I'm an agent in Boston in a similar position as you,  looking to pull the trigger on a multifamily.

    One other option you may also want to look into as far as financing  is concerned is the Mass Housing loan.

    Good luck and I look forward to seeing you around! 

    Collin 

  • Contractor · Northfield, MA · Member since 2015 · 8 posts · 1 vote
    11y

    Thank you for the warm welcome guys, 

    Appreciate all the encouragement. 

    @Collin Fishman that's the first I've heard of the Mass Housin Loan, but from the little research I've done just now it's defenitly an option. Thanks for the suggestio! 

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    11y

    @Igor Komerzan

    Welcome to the Bigger Pockets community. It is a great place to learn about real estate.

  • Boston, MA · Member since 2015 · 72 posts · 16 votes
    11y

    Welcome Igor, I'm in the same boat as you with the plan to invest in a multifamily by the beginning of 2016. What town or county are you focused on?

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