All Forum Posts by: Faris Sheikh

Hey @Alan Van Gorder, thanks. As long as we have masks on & are outdoors I'd be down to meetup! We could go to Blue HIlls near the lake. Might be tough to find parking though.

I'm also down for a zoom meeting!

Hi all,

My name is Faris, I'm a marketing professional working at a 3D printing company in Somerville. I'm brand new to real estate investing, and plan on buying my first property so that I can stop paying rent. Goal is to get a multi-family unit, not have to own a car, and be a (max) 20 min uber ride away from Fenway or Cambridge. 

I plan on using FHA. I've been doing some back-of-the-envelope analysis's on properties every day. I *just* factored PMI into my model, and am realizing how much of an impact it's making on my yearly NOI.

I'm seeing that I probably need to aim for a cap rate of atleast 11% to be in the green YoY. Does this seem right? If I'm investing in Malden/Everett/Medford, what cap rate do you think I should be aiming for?

Would love any guidance and tips on this new journey. Excited to get to know you all.

Hi Scottie, 

I'm new to investing and plan on buying a property soon. I live in Cambridge and am from Newton. I'm also looking for virtual Boston meetups.