All Forum Posts by: Devon Turner

@Andrew Burrell welcome!

I live in South Boston as well. Happy to connect. Let me know if I can be a resource as you embark on your real estate journey! 

Welcome @Faraz Mog !

One thing to note is that in Boston a high percentage of the multifamily housing supply is 3 families and you are severely limiting your options by only looking at 4 units. One less unit can mean less rent but not in all cases. If you have a 2M budget I would search for a turnkey multifamily with premium rents already in place (Somerville or Cambridge perhaps). 

The best way to find these especially since it is your first property is to hire a knowledgeable realtor that focuses on investment properties. Check out some of the recommended BP agents too! You can also join local Facebook groups and most importantly attend local meetups and tell people what you are looking for. Word of mouth is powerful.

Boston is a tough market for cash flow and with higher rates it's very difficult. I am unsure what your financing will look like but if you are putting 20% down I think it is reasonable to live for free but cash flow while living there is doubtful. Once you move out of the house hack you should be able to cash flow or if you refinance down the road into a lower interest rate. Boston is a heavy appreciation market so focusing on that and debt paydown are the more powerful tools in this case, along with lowering your living costs.