All Forum Posts by: Jovan Hsu

Though I will add that the approach that we're pursuing works for us because we intend to live in the multi-family and formerly lived in the condo that we now rent out. I have no doubt that investing for pure cash flow is much more lucrative in the short term in places outside of the Boston/Cambridge area.

As a newbie also looking in the Boston area, I would agree with the general sentiment that the key is to catch on to a formerly B/C neighborhood right before it starts to jump in value. My wife and I own a condo unit in South Boston that cash flows extremely well for us today, but only because we bought it at a relatively low price 10 years ago before rents started jumping through the roof. 

Right now we're looking for a two or three family home in the Boston area which is cash flow neutral or slightly positive. I believe that if we buy in the right neighborhood (gentrifying but not quite there yet, close to public transportation into the heart of Boston) that the rents today will allow us to hold it for a few years until rents and prices start to appreciate.

Thanks, makes sense!

Thanks for the info - very helpful!

My wife and I are considering buying a small multifamily that is currently used as a duplex but has the potential to be turned into a 4-plex. For financing, the plan is to buy all cash using short term private lending, convert the property into a 4-plex and rent it out, and then refinance in order to pay back the short term loan. My question is, when the bank assesses the value of the property, will they use local area comps or base the valuation on the property's income?

Would also appreciate any thoughts you have on this plan as we are newbies just starting out. Thanks!

Hi Mike, 

What's the best way to find these off market opportunities? Would you suggest targeting a neighborhood and then scouring it for vacant properties? Or posting an ad on Craiglist? There probably isn't one single answer but would love your thoughts on what strategies have worked for you in the past.

Ross, thanks for the great advice, that sounds like a good place to start!

Hi All,

My name is Jovan and I'm a beginner investor from the Boston area. I just discovered BiggerPockets a couple weeks ago and am loving the community so far! 

I have one rental unit in Southie that I've been renting out for a while and decided recently that I want to get serious about building my real estate portfolio with the goal of becoming a full time RE investor in five years. I've narrowed my interest down to buy and hold SFH's or small multi family homes. Currently I'm looking to buy a duplex or triplex in the Dedham/Norwood area to both live in and rent out but prospects have been in short supply on MLS. Anyone have any experience with buying small multi-family homes in the area? What other sources of leads should I be looking into? Goal is to find one that would be cash flow positive or neutral if it were completely rented out. Thanks in advance for the thoughts!