Boston Market and Slate Roofs

[Andrew Reis]

Hi Boston investors! I have a few questions about investing in the Boston market. First, I am looking at Hyde Park as a potential spot for a househack, but am still concerned about the area. I have seen a few houses there but don't know enough about the market. Looking for some advice if anyone has been an owner occupier there in the last few years.  

Secondly, I visited a house with a slate roof that had deferred maintenance and needed work. Was wondering if anyone has experience with slate roofs that have not been maintained and what the costs run to get it back into good form. 

Thank you! 

[Kevin Kelly]

Hi Andrew, I recently helped a buddy of mine and his friend get into their first house hack in Hyde park a few months ago. They utilized an FHA loan and bought a newly renovated duplex. So far its worked out great for them! Each side was a 3 bed 1.5 bath. They rented out the other side and their spare bedroom so that they're each paying out of pocket roughly $400 a month. They'll cashflow nicely after they move out and onto the next property, especially if they're able to refinance. With regards to the area, its a mixed bag. Some may disagree but I certainly think its in the path of progress as there are a lot of houses being renovated in the area. My advise would be, if you were to house hack there, to ensure you properly screen your tenants (This goes for anywhere you buy). There's enough quality tenants looking to live in the area that you shouldn't have an issue renting out your additional units/rooms.

Wish I could help with the slate roof but I haven't dealt with one yet so I'll defer to someone else to answer that for you.

Hope this helps!