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All Forum Posts by: Frank Benson

Frank Benson has started 1 posts and replied 6 times.

Post: Massachusetts Market Keeps Rising

Frank BensonPosted
  • Real Estate Agent
  • East Bridgewater, MA
  • Posts 6
  • Votes 2

The post mentions that you are from Weymouth so I assume this is partially a desire to stay close to home. Then comes in the question of what are you looking for, a full blown investment property or also something that you can live in? House hacking is what I’m doing at the moment collecting rent to offset my mortgage While continuing to save and growing equity.  I looked for 2 years before I bought my house and had another property under agreement that I had to walk away from. If this is a first purchase you can go with an fha loan at 3.5% down future investment properties banks will require 25% down on the property if you can’t get creative.

Post: Newbie investor starting out - Boston area

Frank BensonPosted
  • Real Estate Agent
  • East Bridgewater, MA
  • Posts 6
  • Votes 2

Hi Seth first of all congrats on being ready to move into the realm of R/E investing. As someone who got into the game just a year ago I think I can offer some advise on the south shore market. 1. Look every single day but remain patient. 2. Go to every open house you can which are easy to find via Redfin which is a website and app even if you don't like the house you can learn something from them all like the competition in the market or a certain layout you may like or anything really. 3. Get a great R/E agent I can give you the name of mine if you like she was wonderful. 4. Talk to many banks and get a preapproval lined up for yourself but be careful I got a masshousing loan which I was ill informed of at the time but requires me to occupy the house for the entirety of the loan. 5. Once you have a preapproval in order and find a house you like act fast if you liked it someone else will too and often times it can be an early offer that gets the house. 6 Best of luck and try not to get discouraged if your first attempts aren't accepted in my experience it's the best thing that could have happened to me

Post: South Shore REIA Meeting

Frank BensonPosted
  • Real Estate Agent
  • East Bridgewater, MA
  • Posts 6
  • Votes 2

I would certainly be interested in future meetings if there is any type of list of attendees to be sent reminders I would love to be added.

Thanks,
Frank

Post: Multi family in Bridgewater / Canton / Stoughton MA

Frank BensonPosted
  • Real Estate Agent
  • East Bridgewater, MA
  • Posts 6
  • Votes 2

Hi Joe,

I was searching for roughly 2 years saving as much as I could all the while. I was finally able to make the jump into my 2 family in October of last year so I haven't really had any serious appreciation at this point. I tend to be super conservative in my investments so I was just happy with a low interest rate long term investment. That being said more of the details. I currently have a 2 family which is 2 legal beds per unit however the first floor my current rental unit has a third room (no closets) which could be used as either a guest room or just some extra living space. that being said in terms of PITI the property would cash flow between $3-700/M. At the moment just getting my feet wet and only having one real rental unit I'm not concerned with management and I held out for those two year so I could get into a place as turnkey as possible

Post: Multi family in Bridgewater / Canton / Stoughton MA

Frank BensonPosted
  • Real Estate Agent
  • East Bridgewater, MA
  • Posts 6
  • Votes 2

Hi Joe,

I bought my property in Bridgewater right near the college which I am currently house hacking. I will tell you the market for renters especially directly next to the college is strong but you wiil certainly get some characters looking at your place during the process. That being said I'm happy with where I have found myself at the moment and just wanted to wish you the best of luck. Hopefully you find something before I get back into the market and we are competing against each other.

-Frank

Post: New member to Bigger Pockets

Frank BensonPosted
  • Real Estate Agent
  • East Bridgewater, MA
  • Posts 6
  • Votes 2

HI everyone,

My names Frank and I'm from the south eastern Massachusetts, and I'm a newish member to Bigger Pockets. I have been listening to the podcasts and catching as many of the weekly webinars as possible over the last few months. I am going to sit for my real estate sales person exam in 2 weeks and I'm really interested in multi-family investing hoping to get involved ASAP.