All Forum Posts by: Justin Repp

@Mike Hurney I think Beverly is a solid option but the market is a little inflated here as well.  With the proximity to the ocean, multiple commuter rail stops, location on 128, 4 colleges in/around the area, etc it will always have demand for renters.  I think it (and Salem) are more buy and hold investment opportunities with the expectation of appreciation.  As it stands today, I don't think there is much opportunity for cash flow from what I have seen recently.  

@Matthew Stoner  what does "greater Boston" mean to you?  If you mean Cambridge, Somerville, Belmont, Newton, Watertown etc, then you are going to have a hell of time getting a good deal on a multi.  They are just being scooped up too quickly and for top dollar.  Target some communities between 128/495 that are on a commuter rail line and you will have better success.  Perhaps the communities between Boston and Worcester that are little more affordable now, but have a good likely hood of appreciation as population moves out from the city.  

Is it safe to assume that when rates go up (which we have to assume they will), that refi's won't be as viable an option anymore for investors?  I have been thinking about this as I am starting to consider buying a MF.  My concern is that if I buy now with such low rates, it may not be wise to plan, or expect, to refi down the road because rates could jump up so high to make it not economical.  Thoughts?

Thank you everyone.  This was very helpful!

Hey folks!

I just switched careers 6 months ago and I am now a Realtor. I need to decide what to do with my previous 401k which has roughly $15k in the bank. I have done some research and it seems that the self directed solo 401k is a great option as I would like to use the $ to invest in real estate and this would give me that freedom. However, from what I read, it seems that if you do invest in real estate with funds from a solo 401k you can't use bank financing...is this true? With only 15k to play with I am certainly going to need to pull in $ from other avenues (HELOC, a partner, bank, etc) so I want to know if this is possible.

Hey @Anthony Simboli

I am a Realtor that services predominately the cities and towns north of Boston. The previous poster brought up a very good point...3.5% down will be a tough sell in this market, especially if you are looking in Boston/Somerville/Cambridget/etc. You will likely have to find a deal off the MLS which can take some time. If you are looking in the Northshore area I could certainly help find something as that is where I am based. Give me a shout and I'd be happy to chat about the areas that I know well that might be a little less competitive but still great markets. (978) 273 6680.

@Phillip Tutino I have been to Windsor a few times.  I would recommend looking into the industries that supply the jobs up there.  My concern would be where do the jobs come from that my tenants would be drawing off of?  I know that Harpoon Brewery is a large operation based out of Boston but they have a satellite brewery in Windsor that I imagine employs a decent amount of the people who live in and around there.  You want to make sure that whatever industries are supporting the population are sustainable.

Welcome @Victoria Avery!  Can you share what towns you are referencing?  I might be interested or know some people who are but I would need to know a little more specifics.  Feel free to shoot me an email.

Thanks for sharing @Alex Cuevas!  I agree...please keep us posted on how this turns out.  I am a Realtor based in Beverly and just getting started exploring investment opportunities for myself.  I look forward to hear more about this.  Good luck!

The housing crunch in Boston is feeding a frenzy like never before.  In times like these, do what most of the population does--move further from the city.  Like a previous post mentioned, a place like Salem is up and coming, has a UMass campus, on the commuter line, and is projected to continue to be in high demand.  The market is competitive on the North Shore but not nearly as bad as in the city.