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All Forum Posts by: Gabriel Verzino

Gabriel Verzino has started 1 posts and replied 2 times.

Post: New investor from MA

Gabriel VerzinoPosted
  • West Newton, MA
  • Posts 2
  • Votes 1

@Steve Bracero @Thomas Quinn @Michael Caras Thanks so much for the advice! As a new guy, I'm just amazed at how tight knit and informative this community is.

Yes, I plan to move in myself (owner occupied) and would like to live there for at least a year. I've been planning this out with my girlfriend, and she's totally onboard with the idea of property investing and would help with the mortgage payments too. She's got a good job that she loves right now. I'm thinking I'd like to repeat the process of purchasing a multi-family and living in it for a year or so maybe 2-3 more times before finally settling in a single family home. But is this unrealistic? My end goal, like many of you, is to collect enough passive income each month so that I can take care of my family, give back, etc. 

But anyways. What sorts of things are important to keep in mind about the neighborhood in which you're considering purchasing a two family home? I hear some conflicting things about only buying in areas with a good school systems, or only areas with increasing property values, or areas where CRA is happening. Thanks again!

Post: New investor from MA

Gabriel VerzinoPosted
  • West Newton, MA
  • Posts 2
  • Votes 1

Hi all! I'm a new investor and am interested in purchasing my first multifamily in MA. I've found the podcasts and BP materials to be fantastic. I'm in the process of researching mortgage options: MassHousing, FHA loan or conventional loan. I've got excellent credit and about 50k in savings. I read it's best to get pre-approved before I start looking.

How much more do I need to save, and what's the best (cheapest,fastest) way to find an under market value two-family in a good neighborhood in MA? My Dad is a local GC and would be willing to help me with repairs. Any advice would be greatly appreciated!!