All Forum Posts by: Ethan Piani

What do people think about Springfield in 2024-2025? I am looking to buy my first Multi and the cap rates are halfway decent even with current market conditions. I also feel that since Worcester has become increasingly expensive, Springfield is next up. 

Quote from @Joel Owens:

Do you have enough years in to take the broker test or have you already passed that and are an associate broker at a firm?

I have been licensed for just over 3 years and am currently working as a salesperson. My commission split is 85%, with no fees. I've considered getting my broker's license, but staying at my current brokerage wouldn't make it very beneficial. I also lack experience in sales, as our office primarily handles rentals.

Quote from @Joel Owens:

Principal broker 20+ years in commercial real estate. 

Ethan likely best for you is to keep working capital to grow your book of business. Then eventually move up where you hold your license for better splits or go out on your own.

Once you have solid foundation then start investing more.

You did good saving up some money but if you buy the wrong investment could sink you for awhile.

Example if I put 1 million dollars into a property that gives me 6% I make 60k a year. How much can I make putting 1 million into my business? I have not put that much in before but likely make 20x on that in 1 year. So you have to analyze active versus passive investments and how you want to allocate your time for your overall short and long term investing and career plans.

Good luck

This might not be the advice I want, but it could easily be the advice I need. I completely agree that one bad deal could be detrimental in the long term. Where do you suggest I spend some money to benefit the business? Currently, I don't spend anything on marketing, software, etc. I'd love some advice on that.

One important thing to note is that I recently graduated from college in 2022, and my income for that tax year was approximately $40K (from May 15 to December 31). In 2023, my first full-time year, my income was $145K, bringing my total (2-year average) net income to about $85K. The problem I have is that even though I have reasonable savings and income, the lower income from the 2022 tax year is getting in the way of qualifying for a property that I can afford with my actual income of $130-145K.

Hi Richard! That would be great! Feel free to PM me.

Thanks, Michael! How is the learning curve with flipping? I have never worked on one but would be open to something small. Do you think it makes sense in the current MA market?

Fortunately, my current lease doesn't include a buyout clause. The location is fantastic and conveniently close to my market. However, if I were to purchase a property, I'd face a minimum 45-minute commute, which is impractical for a ~10-minute showing as an agent. I've also considered modular multifamily homes since they generally cost less and would reduce my capital expenditure concerns. The only barrier is finding the land. What are your thoughts on this approach?

Great advice. I agree with the conventional loan over the FHA. As you said, the difficult part would be finding the property within the price range.

I would love more info about the Beverly Meetup.

Thank you for your response!

I am currently in a lease that ends in August 2025. I'm very interested in house hacking and particularly like the idea of a live-in flip, especially with a multi-family property. My main concern is the limited cash I have available for the down payment and renovation costs. The prices of multi-family homes are just high enough to pose a challenge. I think the BRRR strategy would be an excellent option as it provides several positive exit strategies. Would you recommend bringing in a partner to help with capital and construction costs in exchange for equity in the property?

I will definitely check out Axel's podcast. Thanks again.

Hello everyone,

I’m Ethan, a 24-year-old real estate agent in the Greater Boston Area with just over $120,000 saved. I’m seeking advice on my next steps in real estate investing and would greatly appreciate your insights.

Currently, I work with landlords who use the rental buy-and-hold strategy. I am primarily a rental agent so I am very familiar with the LTR model. I’m considering purchasing a rental property in Southern New Hampshire due to the more affordable multifamily options compared to Boston. However, I’m also contemplating learning the flipping business, either by working with a flipper or trying it myself, to generate a larger cash position.

I’m open to the idea of out-of-state investing but would approach it conservatively. My primary question is: Should I focus on buying a multifamily property and growing slowly to build a stable financial foundation, even though my area would have minimal cash flow and be more of an appreciation play? My income is variable but typically around $130,000 annually, with a 60-70% savings rate.

I’m just starting out and eager to learn, so any advice, experiences, or strategies you can share would be incredibly helpful.

Thank you in advance for your insights.