I am a recent graduate from RPI with an undergraduate in economics and business management and an M.S. in business analytics. I have always been interested in real estate investing, but now am at a point in my life where I can actually participate. I am located in Worcester Ma but will be moving down to CT within a year or so for work. My current 6-month goal is to buy the first property that I can house hack.

Best,

Parker

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Andrew Powers

Investor
Cincinnati, OH

Andrew Powers

Investor
Cincinnati, OH

Replied December 23, 2020 09:22

Awesome! Are you looking to do single family room renting or multifamily? I you haven't already, I recommend getting familiar with the types of loans available, and talk to multiple lenders (there's many on BP). Good luck!

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Andrew Syrios

Pro Member

Residential Real Estate Investor
Kansas City, MO

Andrew Syrios

Pro Member

Residential Real Estate Investor
Kansas City, MO

ModeratorReplied December 23, 2020 11:34

Welcome to BiggerPockets Parker!

Andrew Syrios

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Parker JeanPoster

Worcester, MA

Parker JeanPoster

Worcester, MA

Replied December 23, 2020 14:08

@Andrew Powers

Thank you for the advice on doing my loan research! I was looking to do a multi-family because they are common around me and the numbers seem to work out well.

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Filipe Pereira

Property Manager
Windsor Locks, CT

Filipe Pereira

Property Manager
Windsor Locks, CT

Replied December 23, 2020 17:51

Hey @Parker Jean, welcome to bigger pockets! Where will you be working in CT? I am based in Windsor Locks.

Most people will say that the best way to get into real estate investing is through house hacking, and honestly I usually agree. Are you open to living in the same building as your tenants? If so, the opportunities for you to get into real estate will be fairly cheap when compared to a non owner occupant investor.

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Jonathan Bombaci

Property Manager

Agent

Pro Member

Real Estate Agent
Lowell, MA

Jonathan Bombaci

Property Manager

Agent

Pro Member

Real Estate Agent
Lowell, MA

Replied December 23, 2020 18:47

Welcome @Parker Jean I Househacked a 3 family in Vernon CT 10 years ago and it was the smartest thing I ever did. Are you planning to do your first househack in MA or CT? Both markets have there pros and cons.

MA tends to be more expensive with higher rents and most markets have seen strong appreciation.

CT tends to be less expensive and better Cashflow but appreciation has been less than spectacular in the last 10 years. The 3 family that I bought in 2010 for $189,000 is today worth $210,000 which is nor much for appreciation.

Best,

Jon