All Forum Posts by: Andrew Beaver

4 months ago I quit my 9-5 job

1 month ago I decided to pack everything and relocate to houston and pursue my passions in financial literacy, football training and real estate.

I’m involved heavily in the first two but it’s my goal to leverage some of my free time towards finding a property that I can fix and flip in the next 3 months.

The tricky part is, I want to do it with a property under 10k with max 15k in repairs.... is it possible? If it is, anybody willing to help guide me in the right direction whether it’s in a partnership or friendly advice.

My biggest weaknesses are 1, not being familiar with houston yet. 2. Not being familiar with contracting/repair cost. Preferably would get guidance / work with a contractor with a great track record and references.

I’m fully committed to this journey and my actions in my other two areas could prove it as I wrote a book on financial literacy and created a website for football training. Long term goal for both are to automate them but I want to build capital through real estate flips in the short term. I’m ready to hit the ground running and looking at areas starting ASAP!

@Sarah Doogle I don’t think one could say more money is needed without knowing where he’s looking to buy... I have not placed money down on an investment property to house hack but I have done a rental for Airbnb and the overall process is great and easy! Money flowing, taking care of most of not all of my rent. Of course there are downsides to it but what opportunity is perfect! I don’t think you can go wrong with a low down payment house hack!

Hello All, I'm looking for a Boston / MA based tax accountant to assist me with my taxes for the current year. A majority if not all of my documents have been gathered. Looking to get them started/completed this week. I'd like someone who has experience with shared space airbnb taxes as well as business loss carryforward as I took one last year. I do not have an LLC or any business entity set up.

@Dan K. that was pretty insightful about Cambridge... I'm bummed you said that because I was definitely going to look into Cambridge since its not the city of boston.  Furniture isn't my concern as I did a pretty great job (in my opinion) furnishing my new place with items from OfferUp / Facebook Marketplace for under 600 bucks.  Everything you mentioned below furnishing is spot on for sure... I'd partner with someone equally open to the risk of the opportunity.  

Hi all!

I've been an Airbnb Host for over a year now as a shared space host.  I love the experience but I want more.  I've spoken with people who have actually leased apartments/homes and then placed those properties on Airbnb for significant profit.  Has anyone else done this in the suburbs of Boston?  I know with new regulations, it's nearly impossible/impractical to do IN Boston... But I feel there are areas where this strategy could be profitable.

I'd love to hear your thoughts / success stories on this!

I currently rent and rent out a bedroom through Airbnb in MA.  Starting doing this in Framingham, MA where I was seeing around 1100 a month but averaged out over the year it was a little less.  Rent was only $1550.  Transitioned to Dorchester, MA where rent is 2k and I'm bringing in 1200 a month with summer months looking closer to 2200.  

Hello All! 

I'm back in the chat ONCE AGAIN! haha... I keep going back in forth on my decision but after recent events... I'm ready to give this a serious attempt! I'm ready to house hack in/near the Boston area. I'm hoping to do a 401k loan OR seller financing. If there are any landlords in the group that are looking to off-load a Boston area property, let me know directly. I figured I'd try here first. I'm also considering doing FHA or MassHousing Loan for this purchase. I do not want a condo where I cannot do Airbnb as I'm on the verge of Superhost for 1/1/2019. Ideally if I work with an agent, I'd like them to have the investor lens as the numbers have to work before anything. perfect world, I'd have a place under contract by end of January / ready to move in. Move in ready is ideal but not completely necessary. For the right unit, I'm willing to put in some work (contractors). I do not care for north shore and would prefer a 10-mile radius from the center of Boston (max). A safe neighborhood is a top priority. If you'd like to know any more specifics, feel free to reach out directly.

I hope you all can point me in the right direction

Sincerely,

Andrew

Hey @Account Closed I'm open to using a broker who specializes in working with investors. As i'm aware of the crazy listing prices going on right now, Off-market deals would be the way to go if I truly want to get into the boston area properties. I'm not set in stone on Dorchester. If the area is safe and reasonable distance from Boston, i'd consider it. Unfortunately me not being from MA makes this search even more difficult but I guess i'll be giving the city a nice drive as I did for worcester! Currently with NACA loans, the max purchase price for a 2 and 3 family is 460k and 560k respectively.

@Jonathan Bowen  I'm sorry, I'm not sure what I should keep in mind based on what you said in your comment.  price values in  MA will naturally go up over time?

@Chris Burnett

Thanks, this seems to be a steal for  a month. I'll be sure to take advantage of the free trial