All Forum Posts by: Matthew Stanizzi

I'm in the "looking for my first" boat as well.  It looks like 25% down on multi family and 15-20% for single family for the down payment with convention financing.  

Going to one tonight. Thanks

@Ryan Jopson

NH isn't bad, but I've haven't been able to find a clear deals.  Eastern Mass is even more expensive.  I'd consider foreclosures here as I could more easily oversee the rehab.  

At first glance the numbers seem to work better in Springfield even when budgeting for a management fees. Something I would need for a property that's 1-2 hours away. I don't know about the rental market there for MFH or SFH.

As someone who owns an Antique home I enjoyed looking at some SFH in Forest Park.

I’m happy to consider other markets but western Massachusetts is a little further then I like to travel for a first deal.  

my feelings as well. But still looking for something that makes sense.  Thanks for the input

I’m going to get more specifics tomorrow.  I’ll let you know. Thanks

I'm looking at some Multifamily homes in Lowell Mass.  I should be able to get traditional financing.  The prices are in a range where I can afford a 20% down payment.   Boston is too expensive.  Anybody have experience in this part of Mass?  Any unexpected expenses with rentals in the area?  

I'm looking at a Quad. With Rough estimates the property should be cash flow positive and so I'm going to take a look.   It's listed for 500K that comes with long term tenants that pay utilities.  Looks to be in good shape with some room for improvements.   Rents in the area are about 1500-1700$ for similar units.   I think it may be over priced as it doesn't pass some of the rules of thumb I've seen on BP but it's about a close as any of the properties in the area get.      

I'm concerned that multifamily on the open Market in this are getting to expensive to be a good first buy.

I may look for wholesale properties or foreclosure as an alternative for value buys.  

Am I on the right track? 

Thanks Dan.  My father is always good for advice and we’ve already talked with him about Successful strategies.

It’s a total of four of us working together and the problem of splitting profits 4 ways and differences in how we should proceed is not lost on me.   

I’m from Southern New Hampshire. My brothers and I have been discussing real estate investing for the last year.  Our father has done well with real estate investing over the years.  We have enough pooled capital for a down payment on our first property. We collectively have experience with start up companies, architecture, business lending and medicine.  The last one doesn’t carry over into real estate investing as well but might help pay the bills.

We're looking in Southern New Hampshire, New Hampshire Sea Coast and the Greater Boston area. These are the areas were at least one of us are located. Our primary interest is in multifamily properties that need rehab but single-family flips have been discussed as well.