All Forum Posts by: Victor Eng

I would look at it this way. If your cash outflow is still less than what it would have been had you not acquired the property and you rented someplace to live, then it probably wasn't a bad deal given that you would be building equity over time anyways. Of course, this is not completely apples to apples as you committed the down payment, but you can discount the monthly savings going out several years and compare that to your down payment and it would be far greater. This comes with a caveat that had you waited and screened more properties, you may have gotten a better deal in which the math made more sense. But remember each month you are renting, you will always be cash flow negative without any equity buildup. My 2c.

Thanks for the location suggestions. Haverhill is new to me so I will check that out. I have heard if the other two locations. Guess the first step is to get pre approval for a mortgage..

BP community, I've been browsing the resources on the website for a few months but haven't signed up on the forums until now and thought I'd introduce myself. First off, hats off to Brandon and Josh for creating this amazing resource. I've always been interested in real estate but never committed to learning and setting my goals until this year. I'm currently located in the Boston area, and am looking into properties that are in towns an hour or two away as my target geography. My short term goal in the next year or so is to acquire a multifamily property in a region with low vacancy. The property would have to be immediately cash flow positive post rehab. Not really concerned about IRR for my first deal but 15%+ would be nice. Look forward to connecting and learning from all at BP. Victor