All Forum Posts by: Linda Tong

Hello everyone, 

Complete newbie here, currently looking for the first small MFH deal to house hack in. 

I'm in the greater Boston area (looking at further out towns as limited by my first-timer budget), what would be an acceptable CoC return on a small MFH in this market? I have heard the "generally 8-12 percent CoC" but I'm not sure if it applies to the crazy market I'm in. I've been using my BP calculators but nothing has come even close to the 8-12 CoC.

Any knowledge share & advice is much appreciated!

Hi Rick, appreciate the tips! For this particular property, I went to see it today and the conversion appears to be a rather simple project of moving a door. But the property as a whole was in much worse condition than expected, so I don't think the numbers would work out for me. Moving on!

Thanks everyone for your responses! Went to the open house today and it appears to be a rather simple fix of moving a door. But the property as a whole was in much worse condition than expected (great job on photo editing) so I don't think the numbers would work for me. 

Hello everyone,

I'm looking for my first small MFH to house hack in. I came across a duplex listing in a good school district that is also within my budget. Unit 1 is currently 1B1B and unit 2 is 4B1B, but the listing agent said the 1st unit could be converted back to the original 2 bedroom making the 2nd unit a 3 bedroom if wanted/needed. I think that's exactly what I would want to do, but I'm clueless as to how much such a bedroom conversion project would cost. I'm in the greater boston area. Google search gives me these super wide ranges and mostly talking about adding a bedroom in a SFH, which I'm not sure if applicable to this situation of "moving/subtracting a bedroom from one unit and add it to another unit in a duplex".

I would appreciate any knowledge share, or tips and advice on where to gather information to properly estimate for such a project.

Hello everyone,

I'm looking for my first small MFH to house hack in. I came across a duplex listing in a good school district that is also within my budget. Unit 1 is currently 1B1B and unit 2 is 4B1B, but the listing agent said the 1st unit could be converted back to the original 2 bedroom making the 2nd unit a 3 bedroom if wanted/needed. I think that's exactly what I would want to do, but I'm clueless as to how much such a bedroom conversion project would cost. I'm in the greater boston area. Google search gives me these super wide ranges and mostly talking about adding a bedroom in a SFH, which I'm not sure if applicable to this situation of "moving/subtracting a bedroom from one unit and add it to another unit in a duplex".

I would appreciate any knowledge share, or tips and advice on where to gather information to properly estimate for such a project. 

Thank you!

 Thank you!

 Hi Tyler, 

Thanks for the tips! If I'm able to live for free or just pay cheaper rent via the house hack that's great, but I'd definitely prefer properties that would cash flow a bit better so I am very open to looking further out. I have not yet checked out RI area but will look into it!

Thanks again!

Hello everyone,

I am a newbie and this is my very first BP post! I'm currently living in the greater Boston area and I am hoping to house hack a multifamily property as I start this journey. I've analyzed some deals in the area and the numbers just don't look viable. I know Greater Boston is a very tough market, but I figured as a complete newbie trying to learn the ropes I should probably invest in a familiar market/nearby instead of going long distance. I have a high credit score (800+) and I understand that I should be able to get an FHA loan if I live in this property. Should I give my home base a shot or would I be better off looking elsewhere more affordable? Any advice on somehow making this work as the 1st property given the market conditions in the boston metro is greatly appreciated!

Thank you!

Linda