Newbie from Boston, MA

[Brendan Murphy]

Hi guys.  I grew up and currently live on the north shore of Boston.  I'm in the accounting/consulting field and have finally saved up some money to try to jump into the Boston market.  I've entertained investing in other markets, but seeing as this will be my first buy, I think it'd be easier to start here in Boston.

My interest in real estate started a little more than a year ago, while I took a solo road trip around the country for a few months.  Being on the road for that long, I had a lot of downtime and figured I could use that time for growth.  I started listening to ebooks and podcasts such as Bigger Pockets while I drove, and I found a huge passion for real estate.  Over the past few months, I've been actively searching for houses, analyzing at least one property per day.  To me, this whole process is actually exciting.  I like crunching the numbers and envisioning how a property would look, feel and operate in my name.  I'm excited for the next steps to come as well.

My ideal investment would be one that I can house hack, live in and rent out to people in my personal network while I fix it up.  In time, I want to have a strong rental property that I can rent out full time for the long-term.  But for now, it's just about getting started.

I'd love to connect with some new people and get some advice from people that care to share.  Feel free to drop some comments below.  

To start off, do you think now is a good time to buy in Boston?  It seems a housing market downturn might be on the horizon, so I wonder if it's better to wait until we see a dip in prices.  I'd love to get your thoughts.

[Lien Vuong]

Hey @Brendan Murphy and @Nick Jasinski, 

Welcome to the BP Community. You are right that the Boston Re market has largely been untouched by the pandemic at the moment given the amount of assistance that's available on the state and federal level and for the more economically sound area that we live in. We have a robust education, research, and financial economy that shields a lot of the volatility of the market. 

With that being said, I am sure you guys are interested in areas where you can house-hack and that would mainly exist in the outskirts of Boston (15+ miles out and roughly 35-45 minutes driving to city center). Those areas will be more favorable for purchase prices as well as inventory but you definitely do sacrifice lifestyle and convenience. In reverse, if location is paramount to you, sticking to Boston area and house-hacking in a two family would be more realistic by executing a roommate situation. 

Key metrics to think about - proximity to train/public transit, large developments in the area, job availability, education institutions, job/population growth. 

Good luck and keep posting to get more info on the area and be more specific about what you're looking for. Were all here to help!