All Forum Posts by: James Walsh

 Hey Ujwal, 

Thanks! That's helpful. 

@Brian Ellwood thanks for the reply! I live in MA so the property values are high and the rental market is super diverse from town to town. My current feeling is to lean towards the 20% if I'm buying under market and in the 250k or less range (leaving me with a solid rate and room to use an FHA next year) and to stay liquid if buying in the 300k+ range and use an FHA.

One example that's no longer on the market was a triplex for $412,000. It was clean and move in ready (minor updated needed) in a market where a 2br rents for ~1600. It was a 2/2/3. In this example it would cashflow at 3.5% down.

I suppose my hesitation with FHA is missing out on the sub 3% interest rates but this is my first property so that could simply be naive.

Thanks!

Hey all, I have about 100K to invest and want to start with a multi family house hack. My question is, should I use an FHA loan and put the least possible down or should I bite the bullets and put 20% for a conventional loan and better rate without PMI?

@Gregory Calandra thanks so much for the information. I just sent you a PM so we can chat. 

@Jessica Stevenson Thank you so much! I've poked through the Nashua to Manchester area a bit and will definitely be in touch. 

@Nick Riccio & @Craig Bellot, thanks for the advise! 

I've started running the numbers on MLS properties but I always struggle with expenses (IE vacancies, maintenance, etc.) and what to use as a baseline when running them. Is there a rule of thumb you use for these costs that are a little more situational?

Also, what are your thoughts on buying before the end of the year vs. waiting to see what the market does in the spring of 2021? We're in no hurry to leave where we are since rent is cheap but I also don't want to keep telling myself "it's not the right time."

Thanks again! 

@Jeannette Ferris that's awesome! Good luck on taking the plunge. 

Hey BP family, 

I'm new to the world of investing and currently in the "Paralysis by Analysis" stage. I've done some research but due to the shutdown have found myself at a stand still and curious what more experienced investors think of the current climate and if there is anyone actively pursuing the path I hope to start on soon. 

My girlfriend and I are from Massachusetts and are currently looking at house hacking a multi-family somewhere nearby and the longer term goal is buy-and-hold. We both work mostly remotely so we're flexible with where to go but would like to stay in the MA/Southern NH area if possible. 

We have a decent savings, both have good credit, and this would be our first property. 

Questions

What do experienced locals think of the current housing market in the area? What are your plans for the coming 6-12 months? 

Is investing in 2-4 unit houses worthwhile around here or is there a better market for single family? 

What area's do you invest in locally and why? The diversity is huge in such a small area. 

Thanks All!