All Forum Posts by: Khalid Khan

I am currently in the US on an f1 visa (student visa) and get my green card within a year. I go to Northeastern University in Boston, MA, and will be graduating in December this year. I have an additional $500k invested into a property as I am currently in the EB5 program, an investment program that allows foreigners to get their green card. This $500k is a gift from my father and will be given back to me within a few years time (3-5) once I get my green card. When I do get it, I want to be prepared to best know how to invest it. I have also secured a job that pays me a base $120k, $132k total per annum, and my first day at work will be 20th Feb, 2023. This job is located in Burlington, MA. This job will be Hybrid as I will only be required to go into the office once per week, I will be working from home the rest of the week.

My question is, what do you think is the best strategy for me to get started right now?

I certainly aim to start with Multi-Family homes, but I am unsure of what types of loans I could qualify for, how much I could qualify for, and how much I could afford, or if I can even qualify for a mortgage on an F1 Visa and if I should just wait for my Greencard to get started? I am also unsure as to which cities in MA are best to purchase rental properties (as I want to househack and rent the other unit(s)), and how do I determine which cities are best for rental properties.

Finally, I am highly motivated to find a partner/mentor who I could learn from and grow. I am able to provide technical services, anything related to websites, social media, etc., and am able to drive to sites at any time and day of the week as I will be working from home at a job remotely 4 times a week. I am quite dedicated and have reading books, listening to podcasts, and networking for the last 3 years, and feel I am confident enough now to really get started.

The title says it all. I am currently under F1 Visa status (Student Visa) and get my green card within a year. I have $80K cash, I go to Northeastern University, Boston MA. I have an additional $500K invested into a property (but this was a requirement to get my greencard). This $500K will be given back to me within a few years time. When I do get it, I want to be prepared to best know how to invest it.

My question is, what do you think is the best strategy for me to get started right now?

As a student of economics, I know interest rates are super low, and prices are surging as supply is low of listings. I have done my research and the house market is bound to correct itself and see a crash (minor or major) starting at the end of this year and last at least 2-3 years. I don’t want to miss the opportunity of taking advantage of an opportunity like the 2008 housing crash (as sad as it was).

Very interested in the BRRR method, although still trying to make sure if it will work in my case.

I have been super serious about getting an FHA loan and househacking, especially because $80K down as the 3.5% down payment requirement means the property would be worth more than $2million if I'm not mistaken, but have been told by realtors I spoke to that it may not be "competitive" or sellers may not want FHA appraisers so avoid selling in the Boston area. Do you think this is the best way to go about it? Or should I opt for a traditional loan with 20% down?

I have also been serious about duplex and triplex etc, but problem is it is difficult to find in Boston. I would be open to condos if the opportunity presents itself. I need to be close to my campus too, I can potentially get a car and drive to campus as I only have 2 classes per week, obviously wouldn’t want the commute to be more than 1 hour.

I study Computer Science as a grad student and expect a high paying job once I graduate (entry level is $100K) which would be my income, but currently I am supported by my dad.

My ideal goal is to generate cash flow, even if it is $10 in the beginning. I want to start a portfolio and grow it out long term.

Also, why is literally every multi-family property built in 1900 with fieldstone in Boston?!? That’s like the worst foundation to have, is it not?

@Jason Wray that makes sense. Thank you!

@Jason Wray thank you so much for that. So Im not completely in over my head then.

The lot is about a 30 minute drive away from me, and I live close to campus, but I am primarily looking to start a portfolio and build it up in the New England area. I have about $500K that will be available to me in 2-3 years time, and so I want to gain as much experience as possible using the $80K I have in cash so I can invest it as efficiently as possible when it does become available to me.

What do you think are some of the things I should keep in mind and look out for when pursuing something like this? Any deal breakers? Any cons or things that I may find out harms my cash flow after I’m in too deep?

The subject says it all. I am a brand new investor and am looking into getting real estate. As a student, I have time on my hands. Say I find a corner lot going for $150K, 2000 sq. Prices of homes in that area typically goes for $525K.

Would it be a good call to purchase the lot and develop your own rental property?

Would you recommend a duplex, triplex, fourplex? Or more?

I have $80K in the bank. What would the cost of building something like that be? And how would I finance it?