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Updated over 4 years ago on . Most recent reply
![Victor Ramirez's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1918702/1621516688-avatar-victorr144.jpg?twic=v1/output=image/crop=1986x1986@289x476/cover=128x128&v=2)
New to Real Estate and In Massachusetts
Hey everyone!
I am new to real estate and live in the Middlesex area in Massachusetts. I do not know much about the Massachusetts real estate landscape other than it can certainly be expensive and based off other people's posts, leans tenant friendly. I am about to graduate college and was thinking about looking for a duplex/triplex to start, but do not know which towns to start looking at as I am flexible with whichever area that may be. I wanted to ask to Massachusetts real estate investors in general, what towns seem interesting for this type of property? What sort of tips do people have for a younger prospect to get involved in a more expensive area when I don't have as high a level of cash? Thanks for any guidance in general and hope all is well for everyone reading!
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![Nick Foundas's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/149971/1621419584-avatar-nick2482.jpg?twic=v1/output=image/cover=128x128&v=2)
Hi Victor, as a first step I would consider reaching out to some local banks to get pre-approved for an Owner Occupied Investment Property. As you mentioned you are fresh out of school with limited savings but as an owner occupied rental property owner you can qualify for lower down payment requirements (somewhere between 3.50% - 5%) and the Bank will take into account the anticipated rental income as part of your income so you will most likely be able to afford more than you think.
If you purchase a 2 or 3 unit, you could rent out the additional bedrooms in your unit to friends/tenants and then of course rent the entire 2nd & 3rd unit out as well. You may not cash flow very much, if at all but you are living for close to nothing while at the same time having tenants pay down your mortgage, increasing your net worth, accessing additional tax benefits and hopefully gain some appreciation.
Starting at such a young age would be amazing for your long-term financial future and will set you up very well. Eventually you could consider borrowing against the equity in this property to acquire more properties down the road.
I live in the Metrowest area (Natick) so down the road (after speaking with a bank) if you need help looking for properties let me know.