All Forum Posts by: Justin Bettano

Hey BP Community. 

I have been involved in REI investing for 3 years.

Property 1: Rental Multi 

I started out with a 2 unit multi north of Boston. Which I currently still hold, and cash flow decently. Value comps are about 540,000 my debt is around 385,000. my monthly net CF I’d about 1,500 haven’t raised the larger u its rent in over a year due to wanting to retain the current occupants. 

Property 2: Fix and flip 

The second property in my REI journey was a 3 way partnership deal. On a Boston south shore single family. It was intended as a fix and flip, and our original exit strategy was reached. we bought with hard money then did a refi to convential because repairs became drawn out and rented for some cf to by is time. we ended up selling for 405,000 and our loan balance was 235,000. After taxes I netted about 40,000 after about a year of work and management.

Property 3: Primary Fixer upper / home. 

My gf and I bought a primary North of Boston. Have put some work into it, refinished bathroom, revamped landscaping, new front and back porches. Finished one of the bedrooms that was in dated and aged shape. This home I view as a place to live and build a family for now until opportunity presents itself. 

My gf and I have a household w2 income of 170,000, before my income from my rental property 

My ultimate question is what should I do. I’ve been thinking going the second home/ mid term/ str route. another thought I have is venture further into a rental property but I know with rates, finding a deal that would cash flow would be tough. 

Any pointer, expertise or discussion would be greatly appreciated ! 

Evening Jeff, thanks for the insight on this. 

Yea the second home product seems like a viable option with a lower down. I believe the threshold is you just need to occupy for 14 days a years or around that. 

So to clarify on dscr, if I was looking for 1 unit apartment of condos to start. Would it only work for condos in this situation?

I’m looking around New England, NH lakes region, white mounts, skiing. 

Best, Justin 

Evening, 

I am in the process of acquiring a short to mid term rental in the somewhat local vacation/ tourist destinations in my region. I want to utilize either a 2nd home type product or investment property product. I was reading about DSCR loans and they seem like a great tool for cash flowing properties.

My ultimate question is does anyone know if there is a property criteria for these products? Can it be a single condo or apartment. 

Anything helps BP community, thanks ! 

Best, 

Justin 

Good Evening Bigger Pockets Community, 

  I'm a practicing real estate investor of two years, with three properties Currently enrolled in Massachusetts agent courses and in the process of obtaining my license. This seems like the next step in my real estate career. It is of interest to connect with broker on here, who is actively looking to sponsor an agent. Enthusiastic to learn, simply connect and discuss real estate as a whole. Looking forward to any assistance!

Best, Justin