These areas generally have steady rent growth but not huge jumps.

I have enough in savings to pay for it but I keep asking myself should i just sell it and get it off my plate and lose the low interest rate or bite the bullet and do a big rehab and continue renting it out.

Hey @Rachael Chen I’m located north of Boston in Beverly.

I was told by the realtor that 750-800 per bedroom per month is the prior and expected rent.

Purchase price: $119,000 Cash invested: $200,000 This is maybe a new Category: BRRRRSR Buy Renovate, Rent, Refinance, Repeat, Sell, Repeat.

Purchase price: $119,000 Cash invested: $200,000 This is maybe a new Category: BRRRRSR Buy Renovate, Rent, Refinance, Repeat, Sell, Repeat.

Hello Ilya,Where are you looking at purchasing your 1st property.When converting a property from a single family to a multi family, you will need to check on the zoning requirements, depending on your location, not every location has zoning.As far as lending goes, it is far easier to finance a single family up to a quadplex, than financing 5 plus units, the DSCR Market for 5+ units is extremely low right now, and there are few if any lenders in that space.For financing 1-4 units, there are Millions of dollars chasing those loans, so you can easily obtain long term financing, at rates between 5-7%.Please reach out if you have a property identified, and I can help you with financing options.

I would guess rents are low compared to sales prices, because every local is probably parking their cash in real estate if they have cash, before it is worth nothing.Also many countries have no leverage or no leverage for foreigners, so cash only game. 

In this area, people usually rent for 1-12 months, and the rent is 30-50% higher than unfurnished LTR.

I believe the time to purchase a rent ready property and have decent cash flow on day 1 is past, at least in the near term.