All Forum Posts by: Nick Lemieux

@Ryan Emrich I'm extremely bullish on area's around the SL3 (Chelsea/Everett), because these are area's where properties are still low compared to surrounding area's. The silverline is the only public transport to The Seaport (jobs, jobs, jobs!) and downtown Boston (airport blue line stop via SL3). The casino shouldn't be the total focus here. Al la Atlantic City.....  

Granted you really need to know/understand the area's your investing in, there are opportunities to be had. I bought a 3Bd SFH with 3% down in Everett and rent bedrooms, covering my mortgage. It still costs me additional in reserves/expenses, but still far cheaper then rent.

Now throughout the past year, 3 large scale luxury condo units are going in. These guys are game-planning 5/10yrs ahead of the market. 

@Emma Ferraro I live here currently and rent out two of the bedrooms which cover the mortgage. But, do have to pay some out of pocket for condo fee's, maintenance reserves, etc .. still cheaper then rent. When I save up enough I'll move on to the next one and cash flow pretty nicely fully rented. 

@Emma Ferraro If your interested in buying, check out the Everett / Chelsea / East Boston area's .. a lot of jobs coming into Seaport area over the next 5 years and they have access to Silver Line. I bought a 3BR in Everett last December in that price range. 

@Alexander T Nguyen I recently bought in Everett. I think the Casino is good for retail and attraction w. Assembly Row near by. 

The jobs are gunna come from the Seaport area,  with the extended Silver line 3 it opens the door for transportation into Seaport from part of Everett/Chelsea. It's tough to get into the Seaport unless you hit the Silver line, with all the building going on - lot's of jobs coming in!

@James E. @Rob L. got caught up at the office. See y'all at the next one!

@Rob L. Great idea! I'd love to attend and Assembly Row is ideal.

@Joshua Syska Sounds like you are on the right path! I just got my first property in Everett.  Good luck with everything!

@Stefanie Willie-Bonglo The silver line will be completed April 2018. Just a few weeks away! I currently house hack in Everett and am under a mile from the Chelsea silver line stop. 

Chelsea is defiantly an area where you need to understand the neighborhoods. I looked at a few properties in the area. It really about the location there. Near the highschool / silver line / on the eastie/ Everett sides. But long term, it could be a great play with all of the business coming in the Seaport district. Good Luck! 

@Domenic D'Aurora I just closed on my first property in Everett in December. It's a very competitive market, but I agree with @Stephen Yablonski, there's deals to be had. 

Also, my agent/lender was very upfront about 203k loans not getting accepted anywhere around the Boston area. I got in with 3% down, and that took many bids and great timing. 

There's a lot of business' coming into the seaport area. So if the Everett / Chelsea / Revere is commutable for you, I'd suggest checking those area's out. 

Hi @Account Closed ! I actually just purchased a condo in Everett myself. Ended up there because the Medford/Somerville markets weren't feasible on the cash flow side. I think you have to look at your own situation and decide where you're trying to take it. 

It sounds like you want to continue to buy and hold properties and if the cash flow is there already, why sell ? The rental market in Somerville/Medford is strong, especially with the younger generations. 

And on the other end, it's a very competitive market right now. Prices are high and a lot of investors are thinking the same thing as you. I think there's a lot of upside to the Everett/Chelsea/Malden area's with the Casino going in and all the business' coming into the Seaport. But, be ready for some fierce competition.

Good Luck!

Nick