All Forum Posts by: Brendan Finney

Hi Jonathan, 

I would plan on going out there to see the area for myself. However, it wouldn't tell me everything I would need to know being there for a weekend. Which is try I would love to connect with investors that know the city well. Secondly, I would like plan on OOS investing. However, if you ask me that in ten years....the city life might drive me out there! 

Hello, 

My name is Brendan. I am a 25 year old aspiring RE investor. I have worked in real estate debt since graduating in 2021, so I have solid (but not expert level by any means) experience with underwriting multifamily properties. I have been saving for years to invest in my first multifamily property. I currently live in Boston. I would like to invest here but there are two large hurdles: 

Negative cashflow 
down payment

I feel that Boston is a fantastic city to invest in.....if you are well capitalized. With that being said I have expanded my search and have been looking in Omaha, NE. Market fundamentals and economic factors seem strong and promising. I have been looking at 3-4 unit properties and stumbled upon a property located in Columbus Park. I am wondering if this area is 1) investable, 2) safe, 3) What is the long term outlook for this community? I have read on the internet that some parts are and some parts aren't safe. To me, safety is relative. Meaning, if you google Dorchester, MA (community in Boston) the safety rating it going to look awful because it compares it to a national average. In reality, the neighbor can definitely get rough, but its fine to walk on the street there during the day and in some parts at night. I have never felt in danger walking the street there. 

The point of my post is that I would love to connect with somebody boots on the ground in Omaha who knows the city well. All comments are encouraged and I appreciate everyone's time! 

Thank you. 

Hello, 

I am 23yrs old & currently saving money to purchase my first rental property using an FHA loan. I have a few years to go but I have been doing research for a few months now and want to be fully prepared before jumping in. I am wondering a few things below. Thank you!

- Where can I find an accurate mortgage calculator to find out my estimated monthly mortgage costs + insurance?

- What are the most important methods/metrics I should be focusing on to evaluate an investment with this amount of debt? (96.5% leverage) 

- is using an FHA loan a realistic option in such a competitive / expensive market such as Boston?

- How much of the purchase price do I really need to have saved up? i.e if the home is $1M I have to put down 35k plus costing costs, but how much should I really have saved?

- What is the minimum required annual income to qualify for this loan program? Again, say if I would like to purchase a million dollar home using the FHA program, what would my minimum annual income need to be?

I appreciate any help. 

Best,

Brendan