All Forum Posts by: Oye Dosumu

@Nicholas White I am starting to look outside of Boston. I will look into Manchester NH as well. Thanks!

Hi everyone, I have been able to identify a property that in my opinion will cash flow very well. However, I want to pay 10% of the cost (Note its a 6 unit property). Conventional lenders are unable to finance it as they need atleast 20%. I don't know anyone who has any such amount of money just lying around. Do I contact hard money lenders? Note 2: This is my first property.  Thanks

You guys are awesome! The wealth of knowledge is breath taking. @Lien Vuong 

@Lien Vuong I'd like to know more about the 3 family property. @Charlie 

@Charlie MacPherson  Thanks a bunch!

@Joe 

@Joe DeFarias you're correct. I will watch out for the taxes. I was looking in Malden as well, but the taxes just seem way too high over there. I'll keep looking in Boston. People said Mattapan is a rough neighborhood... but the best deals I've seen so far are over there. However, its safety first for me and my future tenants so I keep that out of my search.. kindly let me know your thoughts on that area.

@Scott Morongell Yep! I want to invest in Houston so much... but I pay an arm and a leg for rent in Boston, I think if I buy the first one in Boston.. that would save me some of my rent while I build equity.. I am looking at buying the second in Houston.. I hear Atlanta is also great.. I dont really know the market in Houston well because I was not actively learning/looking while I was there. But My strategy is to Buy in/around Boston, then Houston (hire a PM). 

Thanks so much for your input! Let me know if you have other recommendations! Thanks!!

Thanks @Alina Trigub, I am starting to get accustomed to the site and I am very open to recommendations! Thanks alot for your thoughts!

@Gualter Amarelo, I know fall river is alittle far off from Boston, I work around Boston so I intend to owner occupy and I also want a shorter commute to work. But having great ROI does sound awesome. I want to buy a second next year,... I'm thinking of getting the first around revere/boston/everett and then I could get the second around fall river.. let me know your thoughts.

Thank you all for being so open to helping me navigate my way. I truly appreciate! Humble beginnings.

Thanks 

@Charlie MacPherson !! I have indeed been looking in dorchester and Mattapan areas, but I have been told location should be my main focus.. hence i started looking at Everett, Revere, etc. the prices in cambridge... well i just didnt bother.

I will start looking at places in plymouth, Norfolk and Bristol counties and keep you updated!

Thank you so much for such a detailed answer!

Regards,

Oye

Hi all,

I moved from Houston to Boston in February and I have been looking at buying a multifamily in Boston since April.. I am finding it very hard to get down a good property because the numbers are not working well enough. Anyone had thoughts on buying multifamily properties in Boston..? any tips will be appreciated. 

Thanks, 

Oye