All Forum Posts by: Lien Vuong

Ive worked with them before for another displaced family and it was great, they even adjusted the rate mid stay and was a big financial win for me. 

Unfortunately Boston property is not a cash flowing market, all appreciation. You can potentially look at some opportunities in Dorchester, Roxbury, and Mattapan zip codes but they tend to be Section 8 exclusive neighborhoods. On the flip side, Boston in general has very high demand for rentals period and units that are priced well tend to move within 30 day's time for move ins. Let me know if you'd like to connect on further local knowledge. 

You have the right team, I would just practice some patience. If a property doesnt fit FHA condition criterias and its been sitting on the market for some time you can explore FHA 203K loan (construction loan wrapped with acquisition) to overcome those smaller items. Alternatively, you can see if local banks are offering 5% down multi family loans - typically smaller Credit Unions do. Good luck!

I have a good local CPA for you, feel free to PM me, she does tax prep and strategic planning. 

As you're exploring markets and what your 5-10 years looks like I think you should use your HELOC once you zero in on the market you want to invest in. Let's say that Dallas hypothetically checks all of your boxes, I would figure out what sub market in that area fits your criteria to expand your portfolio and eventually have enough passive income in the next 3-5 years to move down there. I dont think that an immediate move is necessary at this present time if you are not pressed for it. It allows you to test the TX market while gaining more appreciating locally on your primary to scale. Given your equity and liquidity position, I think you can target commercial apartment buildings (5+ units), as youll have better economies of scale and will not be competing with FHA buyers for multi family buyers. You can also BRRR out of those properties easier as they're commercial financing.

Hope this gave you some insight and feel free to reach out if you want to discuss further. 

All the ADUs that I know in the Greater Boston are mandate for you to be living in the property at minimum OR the tenant to have some familial relationship with you. City of Boston is most lax with it where they allow you to build within the confines of your building and that renter does not need to have a familial relationship but that's as good as you're going to get. Ultimately its your call as far as risk tolerance goes in case the city check it .. 

I use one that manages several of my buildings. PM me and Im happy to share the contact. 

Welcome to the Greater Boston community Enoc!

I have units across the state, feel free to PM me to chat about my experience. 

Beautiful home and congrats on your purchase!