All Forum Posts by: Andrew Beaver

I'm curious to hear the answer to this as well

Amy Ranae hey, noticed a 6.8% student loan amount? You should consider refinancing through Sofi/earnest .. Literally same situation about 6-8 months ago and refinanced to a 5 year floating loan from 6.8% to 4.3% (now 4.4% based on increase in libor rate). That'll take some of the interest impact off and since you're paying aggressively the min payment won't affect you. I used Sofi FYI. From there it won't hurt you as well. My opinion, I enjoy the idea of being debt free while I'm learning/shopping around. This allows you to be patient and not rush for a deal. Then I can build my network, understand the whole direct mail strategy, and deal analysis. Seems as if you're more savvy in regards to RE than me but loan situation is about the same. I always look at the fact that I have money in a savings account making only 1% when my student loans are eating up 4% and I personally don't like that since I'm ready to wait for the right price. I suggest going for those student loans and be as aggressive as possible Good luck!

Nicole Jones I believe he was referring to if you're owner occupying you're more than liking getting a FHA loan so you can put down a lower down payment. Here in MASS (probably the same in other states) you have to pay a monthly fee for PMI (private mortgage insurance) which you have to pay as long as you have the FHA loan

I guess this complaint of privacy only comes from people who are use to renting/owning a home.. For some, living in an apartment building and dealing with sharing walls is a normal thing so outside of the instant tenants request, I don't assume neighboring tenants being a main concern

Scott Trench Some people do not want that debt on their books for the rest of their lives. It may be bringing in income but a debt free lifestyle where you don't owe people is something many desire. With the house hacking, you're constantly with a mortgage and as you build up properties it's a VERY long time until you may actually be able to pay off those mortgages. What would you have to say to those who are completely against debt and they see it as a burden more than a stepping stone to financial freedom?

Interesting Russell Brazil Somerville is definitely a nice area now... I can just see all these cities that in my opinion, look really old and run down, will just turn around. /similar to what's starting to happen with Detroit

@Jonathan Z.

Hey Jonathan, 

Looks as if you're on the path to success.  I'm definitely interested in hearing about your journey in real estate over the past couple years as I'm interested in 2-3 unit properties for my first purchase.  I've really enjoyed my experience with the Boston Wealth Builder event that I attended last week and I look forward to this one if the time permits.  Maybe if you have some time during the week (or weekend) we could grab lunch and i could pick you brain a bit about what you've learned in the early investing stage?

Thanks for the insight Matt M. , Everett is definitely on the radar and I agree with Winthrop. I'm new to Mass (a little over a year now) so this info on the surrounding cities is invaluable to me. I'll be sure to keep your considerations of Chelsea in mind. My thought is that I seen a LOT of new construction going on in Chelsea (and Malden) and I feel some areas are really starting to revamp. I haven't done my research regarding the cost/ rent capabilities out there yet so maybe once I see that I'll be right on the "no Chelsea" train along with you. Regardless, great stuff to think about!

Taylor Johnson thanks for reaching out. Yes I've met/spoke with a couple people from body wealth builders/specifically mandrel co. Definitely a great networking community that I'll be staying involved with long term. I'm interested to hear what off market opportunities the community can bring to me

Thank you James Wise I appreciate it