All Forum Posts by: Georges A.

I am no expert by any chance but been researching this market for quite some time now (while educating myself in REI). The numbers simply don't work (for small investors like me at least). These are the reasons:

- People have a lot of cash. I have lost so many offers for bigger investors buying the whole place in cash or simply bidding me out of the process.

- Avg MF (2 units) acceptable condition in Medford, somerville (and that's not inside boston yet but only on the suburbs) is 550k. Do the math and do the 50% rule and the numbers don't add up even when you put down 25% down ($137,400!!!!).

- No house in this area that is in acceptable condition is selling at the listing price. They're always selling formore. Prices are simply too inflated.

again that's my personal opinion. Maybe some RE investor in MA from BP who's more experienced than I am could shed some light and correct me if I was wrong

@mike hurney , I believe so in terms of ROI and the least money down which is the case of Paige. Although the rents will be lower than Boston, the ROI and cashflow generated will still be higher. I believe that the only way to make money in MFs in Boston is either if you put a VERY large down payment or if you're relying on the appreciation of the house (something I'd hate to bank on)

I've been looking for MFs to invest in Boston for over a year with no luck as none of the numbers worked.

Paige Welcome to BP. Norfolk holds a lot of special memories for me being an ODU graduate and having lived there for 5 yrs. The market there in my opinion is def better where I am now (Boston, MA). In fact, I am thinking of investing there from out of state to do the same thing you're trying to do (MFs but owner absentee).

I've been on BP for the last 2 weeks and there's a lot of valuable info to get from here. Podcasts + blog + and their eBook and you'll be one step ahead.

Enjoy it

Hey guys,

just met with one potential mortgage lender today and when asking if I can get a loan under an LLC the lender replied "no that's not possible". Is that correct?

the property I will be buying WILL be owner occupied and is not an investment property (well not according to the bank at least).

I am assuming if it will be owner occupied then I cannot get it under an LLC? how about when I move out (and the mortgage is still not paid) can I put it under an LLC then or would I have to refinance?

please advise

Great topic guys. I just joined this community and in 2 days just reading around I have learned A LOT! so Thanks for everything.

Christian, I am in the same boat as you (or the one you were in May 13). I just started looking at MF investing in Medford / Somerville and the prices are so inflated (probably way worse than at the time when you were asking). I am having the same issue deciding b/w your options 2 or 3. I really like living in Medford and I am worried that the prices keep getting inflated (option 2) but at the same time I really want to get some ROI (> 5%) on the money I put down and that's where option 3 would be best.

I think the plan would be to look in both and it depends on the deal. If I can find something where I can break even in Medford / Somerville then option 2 it is (and that would be a win in my book with the market constant appreciation and I'd be saving rent) but good luck with that. And if not, and I get a really good deal in the surrounding areas ( It is def not my pref to live in Chelsea, Everett, etc) with an ROI > 10% then why not.

I am interested to know which option you finally decided to go with and why.

Thanks in advannce