All Forum Posts by: Griffin Ashey

I am from Portland Maine however I go to school in Framingham, Massachusetts.  Would it be worth it to build equity for buy and hold properties by doing some small flips with a partner that is a general contractor?  I ask because obviously I will have limited funds graduating college and need some sort of start off point.

I am from Portland Maine however I go to school in Framingham, Massachusetts.  Would it be worth it to build equity for buy and hold properties by doing some small flips with a partner that is a general contractor?  I ask because obviously I will have limited funds graduating college and need some sort of start off point.

@Jake Stenziano I've been considering doing small flips to build up some sort of capital but for an FHA you have to live for at least a year, correct? do you think I could do a live in flip on a multi unit? Especially if its cash flowing?

@Gino Barbaro Very interesting to look for affordable rent prices that match the average income of the area (if thats what you're referring to). Thank you for that path to explore more!

@Josh Autery I agree I need to jump into it, I was thinking about doing small flips while I'm in college to build equity like I said before.  My options are limited however because my schedule is very tight so I wouldn't be able to do things like wholesaling.  I'm thinking about finishing up my real estate license requirements so I can get commission for all the team houses and houses my friends are buying off campus.

@Collin Fishman I live about 5 minutes outside of Worcester but have many friends there who know the neighborhoods well and consider myself somewhat educated on the good and bad areas. My preference is buy and hold.

@Gino Barbaro I actually would prefer to start out with a 2-4 unit for financing reasons.  Could you recommend any particular markets that are promising in New England?

@Gregory Emmer I will definitely look into the fix and flip! is it possible or worth it to buy low return in turn for less of a loss if it doesn't turn out as planned? (not that educated on fix and flip other than my friends doing random flips here and there).  I really was looking to diversify my investments so I really like the idea!

Thank you everyone for your responses, this truly is the best place for online real estate education and networking.

My name is Griffin Ashey and am currently a 20 year old college student in Massachusetts, however I was born and raised in Southern Maine.  Right now I am working on graduating college and getting into investing but I would like some ideas on steps I should take from the position I am currently in; here are the details:

1. I have been "lurking" on this sight for a couple years now reading forums and listening to podcasts and different videos members have suggested on this site.  I would consider myself educated on real estate but I understand I should never stop learning.

2. I have had a mentor for a few years now that specializes investing in section 8 housing however that isn't primarily where I want to go.

3. I have a possible private lender lined up however as a fallback I have been exploring different financing options I could afford as a young adult straight out of college.

4. I have a current partner that is a licensed contractor and plumber however has no real education in real estate.  He is also going to be splitting the costs that come with investing.

5. I understand that investing in areas you are familiar with is usually the safer route to go however living in Portland Maine has restricted me to high housing costs which limit the amount of properties I could finance because of my financial situation (college student).

I have talked to 4 professors at my school who have some real estate background and they suggested a couple markets in Mass that would provide lower housing costs and the same amount of renting possibility.  The most common answer I received is Worcester.  My real questions regard the market I should be looking for and what kind of properties (live in, multi-unit, sfh ect.) I should be seeking out.  Any input in general regarding my situation would be greatly appreciated.  Thank you in advance!