New adventure in Massachusetts

[Gleb K.]

Hello everyone,

For quite some time I have been thinking about entering the real estate game, with a goal in mind, that I will be able to free up my time to spend it with my family, as well as work from home and be able to build my dream business with the help of real estate.

An I think it is the right time for me to do so, here is why:

My older daughter got in to college and we are relocating from CA to MA in September-November, she will study on campus at Amherst, but we want to get our first property after paying rent to someone for to long.

My idea was to get a small multifamily, but clean environment like no landfills, no toxics, good water and air was a bigger priority for my family, so we are thinking to have a small, under 50-100k starter house that needs some work done, but has no exterior problems, has all the pipes and electric work in place. I'm quite handy in terms of doing interior work.

With the house under 100K I will be able to handle payments and start building the base for the first investment small multifamily house to only rent out.

As of now I have watched a couple of BP seminars, that are amazing and I would like to start a relationship with someone who can represent me as an agent, help me secure the first property in MA, and maintaine a relationship in terms of continuing in the direction of the multifamily business.

I'm still learning all there is to know in this business as a newcomer, and explaning the steps and extra costs are very appreciated.

I'm business oriented and am approaching everything with a business plan.

Looking forward to be a part of the community.

[Katherine Robbins]

Hi @Gleb K. Welcome!! 

I'm from CA and moved to Boston MA in 2014 and got my real estate license and started flipping houses in 2015. With multiple deals under my belt, I consider myself a seasoned real estate investor now especially when it comes to the MA markets. I work primarily has an interior designer for rehabbers and investors all over the country and in Spain (I moved to Barcelona for my husbands work). But I still have my MA license and a team setup there if you would like me to make some introductions. It's a good idea to interview a couple of different real estate agents and try to find one that understands real estate investing rather than just someone looking to sell you a house. 

Are you looking at purchasing something out in Amherst? Luckily it's much cheaper out in Western MA than towards Boston. There is a great loan program that you should consider, called a 203k loan, that will wrap any renovation costs into your mortgage so you don't have to pay out of pocket for that. They have an FHA first time home buyer option as well so you would get the same rates, 3.5% down with low interest depending on your income and credit. I did a deal in Chicopee in Western MA on a 2 family using this program. It's a great experience for someone who wants to learn about rehabbing and running numbers but you'll have someone holding your hand throughout the process.

Feel free to reach out with any questions about anything! Happy to help.