Thank you all very much for the welcome. Ann Bellamy I would definitely appreciate tips on Central MA property managers you'd recommend working with.
I am looking to buy a multi-family home, although I would be open to alternatives if a deal with a better CF proposition were to come around. I'm looking for something with a low price tag (and of course, highest possible rents relative to that) for now.
However, and here's where I could really use your advice, I have family with a little more cash who will have time to be around a cape cod property if necessary. I could potentially split a deal/down payment with them, but this would have to be on the cape. They have no experience either. From what I've seen on the cape, it seems like that would most likely be a seasonal single-family home. I'm sure there are some year-round multi-families there, but I imagine it'd be more stable/comfortable/cheaper to own that kind of property off the cape (?).
Finally, I could also consider a flip with the family member I mentioned (in the Cape Cod area) utilizing the time and family help I have until August. I worry that might be too risky with no experience, relatively low cash, and an impending move/full time job start out of the state in August whether or not the flip is complete.
I had been thinking a year-round MFH (not on the cape) was a good way to get started, but I would be interested in hearing your opinions on that-- do people commonly start by owning a vacation property? What would you recommend as a launch pad given my circumstances- Year round MFH likely not on cape cod, [likely seasonal, likely single family] on cape cod, or flip. My goal is generating cash flow and building net worth for the long term.
Thanks,
Justin
