All Forum Posts by: David Lewis

 One unit is totally renovated so that's going on the market immedietely.

The other unit is rentable but very dated.  I'm probably going to use 3 months to get it modernized ie new cabinets, countertops, appliances, and updated bathroom.  I'm guessing the project is $30k - $40kish.

I'm lucky in a sense because my father is a retired contractor so he and I are going to do a lot of the work together.

That said, a good friend of mine just did a full gut on a 2 family he bought in Medford.  He works a corporate 9-5 so he hired a general contractor.  You could go that route too.

 Yessir - purely investment.  I live in the Boston suburbs myself.  I'll be renting both units in this duplex.  

Hi @Robert Dandaraw - I'd definitely recommend listing the Bigger Pockets main podcast as well as Real Estate rookies.  Both are available on the the through the Apple Podcast store or wherever you get your other podcasts.  I tended to focus on episodes that had guest speakers like me - someone who might be newer with say 5 or 10 units vs. these moguls who have 20, 30, 50 units. 

Regarding markets - I started looking in Greater Boston so Medford, Everett, Somerville, etc. but came to your same conclusion that it was way too expensive.  I decided to zoom out beyond Boston and spoke to real estate agents in other markets.  I immediately ruled out Worchester and Merrimack Valley.  

Southern NH peaked my interest though - this wasn't an area I was considering before.  Here's why its interesting:

1/ Houses tend to be MUCH cheaper than Greater Boston so the barrier to entry is lower.  My duplex cost me $620k and requires only a small amount of cosmetic work

2/ With remote work more people are moving to NH because they don't need to go into the city as much

3/ Some people are sick of MA politics so want to move to more conservative NH

4/ There is a housing shortage in NH.  Statewide vacancy rate is <1% whereas the national average is 7%.  There is such a shortage that state government is giving tax breaks to developers to build more multiplexes 

As far as specific towns I'd say Nashua, Concord, Manchester, Durham (where UNH is), Dover (right next to Durham), Portsmouth, Seabrook, Salem, Exeter and Hampton.

I chose Dover because its a mix of students from UNH and young professionals.  It's 15 mins to the campus and 20 mins to Portsmouth.  There is a nice downtown there with bars, restaurants, breweries, and coffee shops.  They're also investing in building a River Walk with outdoor dining.  

 Oh awesome - that's encouraging to hear!  Would be awesome to connect separately, would love to pick your brain

Hi Guys - wanted to share a major accomplishment, today I had an offer accepted on my first multi-family!  It's a 2 family in Dover, NH just a short drive from UNH.  Dover is a very up-and-coming area, the town is investing in creating a River Walk with restaurants, bars, etc. that have outdoor seating.  It's about 20 mins from Portsmouth as well, another popular destination in NH.  

This has been a goal of mine for 10+ years.  Like many others I was stuck in the "paralysis by analysis" phase but made it a goal to actually do something by end of Q2 2025...I'm several months ahead of that deadline!

A big shout-out to the Bigger Pockets podcast and the folks on this forum who coached/encouraged me.  

Maybe a basic question but how are you all figuring out what a unit could rent for?

As simple as looking at Zillow, Apartments.com, etc. and looking for comparable units for rent in the same neighborhood? My only concern with this approach is that I’ll find units FOR rent vs those that are under lease. 

Are there more sophisticated tools/techniques out there I should be using? 

Hi all - 

I posted a similar question on another thread but want to approach it from a different angle.

As we know Boston/sorrounding towns is an expensive market and finding cash flow is a challenge.

With that said, there's potential in other cities around the country. 

As a first timer with no existing properties and no experience do you recommend looking into long distance investments and managing thing remotely? 

@Tyler Munroe - yeah let's connect! I shot you a request.

what are your thoughts on the North Shore? I was pretty bullish on Salem, MA last year. I can also see the ends of the Commuter Rail lines being good too...like Haverhill for instance 

@Daniel McDonald yeah you kind of came to the conclusion I did. Unless you have millions in cash a rookie RE investor in Boston might have one or two or three properties vs hundreds. Hence my hesitation, the price tag is so big and the inventory so low there isn't much room for error. I think I just need to dive in though!