Is buying your first property in a major city much more "difficult" than in the suburbs?
Hi all,
I live in Boston and am hoping to buy my first property next year - hopefully I have enough cash to cover a down payment and closing costs, or even enough knowledge by then to obtain private money. Ideally I find a multifamily I can live in, but at this point I'm just reading as much as possible about what my options are and what constitutes a good cash flow opportunity.
Anyway, I see so many threads and articles on here about people buying properties for around $75-125,000 around the country, and I'm just concerned that the info I read in those posts will just be a distraction, because no such homes or multi-families exist in Boston!
I am mentally "stuck" on Boston because it's the only market I've ever known and I am familiar with all the towns, but is it unwise to focus on such an expensive market for a first purchase?
Not exactly sure what type of answer I am looking for here, but any thoughts or advice would be appreciated. Thanks!