New investor from Boston, MA

New investor from Boston, MA

South Boston · Member since 2018 · 4 posts · 8 votes

Hi All,

I just wanted to introduce myself and say "Hi". I recently joined BP to get started in REI with my main interest being rentals in the Massachusetts area. What attracted me to BP was the network of people who actively participate in the forums and wanted to connect with like-minded individuals.

As for my background . . .


I'm originally from Massachusetts and have lived all around from growing up in central MA, going to college in western MA, and now living in Boston, so I'm pretty familiar with the general landscape of the state. I currently own a condo in South Boston for which the mortgage is my only source of debt. I'm employed full time as a sales engineer so real estate investing would be more a side project for me to earn additional income.

As some of you may know, the Boston real estate market has been booming recently so the Boston metro area is probably outside my wheelhouse. Ideally, I am looking for a property within an hour drive of Boston and no more than about 325k, with places near the commuter rail being very attractive. So cities like Worcester or Lowell seem to fit the bill, but I'm very much open to new ideas and suggestions.

Anyways, as I said before, I would love to meet/chat with any local investors, real estate agents, contractors, etc. So feel free to PM me. Also, I'm open to any advice, recommendations, or comments about investing in the Massachusetts area.

Thanks!

6Reply
16 views

Most Popular Reply

Tax CPA · Charlotte, NC · Member since 2014 · 215 posts · 186 votes
8y

@Vu Huynh Welcome to BP! 

If you haven’t already listened to the podcasts I’d start there.

Podcasts

Episode 108 - Grant Cardone... Just listen…

Episode 283 Paul Thompson - Quite a new episode but I would think everyone would agree this is a top episode. Mainly, the systems implemented are fascinating (VA, automated offers, etc.) Plus...escape velocity...

Episode 113 – Jay Papasan - Very practical slow and steady advice

Episode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k

Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.

Amanda Han

Brandon Hall

Tax Reform Update – Brandon Hall and Amanda Han

Linda Weygant

Guides

Ultimate Beginners Guide

Forum Stickies

BP Calculators or spreadsheets uploaded by members

My Favorite Books

I have to say all of the BP books…right? :)

The Millionaire Next Door

The Millionaire Real Estate Investor

What Every Investor Needs to Know About Cash Flow

Hope this information can give you a good start. Feel free to reach out with any questions. 

See this reply in the discussion

9 Replies

Jump to latestLatest
  • Tax CPA · Charlotte, NC · Member since 2014 · 215 posts · 186 votes
    8y

    @Vu Huynh Welcome to BP! 

    If you haven’t already listened to the podcasts I’d start there.

    Podcasts

    Episode 108 - Grant Cardone... Just listen…

    Episode 283 Paul Thompson - Quite a new episode but I would think everyone would agree this is a top episode. Mainly, the systems implemented are fascinating (VA, automated offers, etc.) Plus...escape velocity...

    Episode 113 – Jay Papasan - Very practical slow and steady advice

    Episode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k

    Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.

    Amanda Han

    Brandon Hall

    Tax Reform Update – Brandon Hall and Amanda Han

    Linda Weygant

    Guides

    Ultimate Beginners Guide

    Forum Stickies

    BP Calculators or spreadsheets uploaded by members

    My Favorite Books

    I have to say all of the BP books…right? :)

    The Millionaire Next Door

    The Millionaire Real Estate Investor

    What Every Investor Needs to Know About Cash Flow

    Hope this information can give you a good start. Feel free to reach out with any questions. 

  • South Boston · Member since 2018 · 4 posts · 8 votes
    8y

    @Account Closed. I've started making my way through the podcasts starting from Episode 1, but thanks for highlighting a few of the more helpful ones for me!

  • Financial Advisor · Greater Boston · Member since 2018 · 8 posts · 3 votes
    8y
    Try looking into Medford, might be able to snag a multi unit with positive cash flow..great tenant pool
  • Retirement Accounts Attorney · Southfield, MI · Member since 2017 · 3k+ posts · 1k+ votes
    8y

    @Vu Huynh 

    Welcome to Bigger Pockets.

  • Realtor · Boston, MA · Member since 2017 · 187 posts · 40 votes
    8y

    Welcome @Vu Huynh!

    I would be happy to chat with you about different options and locations that you might be looking in as well as answer any questions that you might have!

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    8y

    @Vu Huynh

    Welcome to the BP family! Glad you joined the best real estate investing website! Here are some recommendations for you:

    Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
    Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
    Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

    Wishing you the best!

  • South Boston · Member since 2018 · 4 posts · 8 votes
    8y

    Hey all,

    Great stuff so far. I am overwhelmed with all support I've received in the past few days and have made some awesome connections. It really feels like I'm part of a community than just another contributor on anonymous online forum . . .

    But I've been crunching a few numbers and feel there may be better opportunities in western MA, specifically in Hampden County including places such as Holyoke and possibly Springfield. Even though it is farther than I originally desired, the uptick in income would allow me to hire a PM and still have a greater return. So please let me know if you have any thoughts or recommendations in these areas as well.

    Regards, 

    Vu

  • Financial Advisor · Greater Boston · Member since 2018 · 8 posts · 3 votes
    8y

    Holyoke/Springfield allows you to buy in for cheaper w decent rents so the ratios will probably be better than around Boston for sure! 

    I personally like the stable market around Boston.


    But you have an advantage as you're already familiar with the area, so I think it's a sound move to make! You'll probably be able to buy more than 1 property!

  • Burlington, MA · Member since 2018 · 3 posts · 3 votes
    8y
    @Vu Huynh I agree. I grew up in Turners Falls (Franklin County) so I’m all about exploring opportunities out there. Let’s connect!
Join the conversationCreate a free account to reply, vote on answers and follow this thread.