All Forum Posts by: Andrew Beaver

Hello BP community...

Lately I've been thinking about my pursuit of real estate investing and something random came into my head and I wanted to hear your thoughts on it.  From what i've seen... there is a population of people who stay away from "warzone" communities and another population who loves the cashflow in them but has an understanding of the risk in having bad tenants tear up the place.  With a higher risk of tenants tearing up a place, results in investors logically not putting that much money into the property but keeping the property as sturdy as possible.  My question relates to the possibility of not only enhancing a house, but enhancing a community of houses in which an investor increases the value of all houses around rather than following suit with whats on the market.  Is this wishful thinking or is this a practice that currently goes on.  Outside of wanting to make money, I feel it would be so fulfilling to turn a community around (not gentrifying the community) instead of focusing strictly on the save nice communities.  Does anyone else believe that by bringing quality houses to a "warzone" (or close) community could help bring some pride to that community ultimately getting tenants or owners to want more for their properties?  I'd like to hear your thoughts on this one.

Love the responses! Very interesting! Any that don't have a "luckily I" to accompany the GAF?

Steeve Breton I just read your post as well and notice you have some rentals. Could you please share neighborhood info with me as well? I'd have to agree even back then that Worcester still may be the best market for investing (better commute to the city than I currently have). I'm very new to Mass so understanding the various cities sometimes gets overwhelming for me. I'm mostly curious to know about what towns/streets to stay away from within Framingham/natick.

Aaron Stone hopefully you're still around after this post. This post was pretty interesting but I'm curious to hear about your experience moving to Framingham last year? I stay north shore but work in Needham so I'm looking to move in the next couple months. Not sure if you're familiar with the rental market in the area/surrounding cities but for 1, I'm hoping to find rent rates for 1400-1600 for a 1 or 2 bed room. Is this possible for a comfortable rental in the area? I know Malden it's definitely on the low end for luxury style but just right for say Worcester. 2. Have you been able to start your flipping venture in Framingham and how has it been finding deals? Ideally I'd like to start investing in Worcester but if I could invest "in my own back yard" I'd be all for it. Look forward to hearing from you.

Get on MeetUp, attend local real estate events and show your enthusiasm. Real estate from what I've seen is as much of a networking business as it is a passive/landlord business. Show them that you're not just there to leech off of them but you've done your hw (meaning you can ask educated questions/hold conversation). Once you find that connection with them take them out to lunch/coffee and find out how YOU can help them... Not the other way around. If there's a way you can help, you'll get your experience that way (if you have the time). Good luck

Also considering taking a step back over the next year/2 and really start saving for investing. Whether that means moving in with parents, getting a roommate to lower living expenses and cut back on eating out/going out. patience is a virtue and we all want to be wealthy and financially free but sometimes we gotta just go through the struggle and stack up so we can get in the game like some of those who didn't have to struggle

Look into NACA loans. Or grind and drive for dollars in hopes of finding someone who will seller finance

I just read a post on an individual who rehabbed a property for a 34k profit from MLS that has been passed up by many many investors who thought it was a bad deal... If you're doing your research and know what you're doing, I say keep at it! Good luck

I'd say since you're still in the research/study phase and are considering rehabbing as your long term goal, you should check out the book by @j Scott the book on flipping houses (and subsequent book on estimating rehab cost). It can give you beginner actionable steps as far as meeting the right people and researching efficiently. Also a small snipet about wholesaling that you should consider before going down that path. Typically we all think that's the best way to get into the game because it seems to be the most cost effective strategy but it really proves not to be. Outside of the constant reading, networking will be y'all best friend. Good luck! FYI, I'm in the same position as you and your husband (recently got my real estate license for research purposes). My focus will be on owner occupying multi families and then using the savings to hopefully flip houses down the road. Said that to make it clear that I'm a rookie as well haha

Nice, found on MLS?