House hack in outter Boston

2 Replies

Hello! Starting out in Real estate. Just got my license and am working with a local broker. I’m looking to get a multi- family property. Ideally closer to Boston. The one issue is property in the greater Boston area is high ⬆️. Thoughts on a house hack? I have about 50-55k to start my investment. I’m a post college grad, and still living at home with my parents, and looking to move out fairly soon.

I’d love some advice from all of you on the BP forum!

Thanks,

Steve

I would look at markets about 30-45 minutes outside of Boston where it's less competitive and you can go more with your money. What you should keep in mind is that bc you just switched to a new job, you might not qualify for financing because you're now in a commission only position. 

I would look outside of Boston that has a reasonable commute time. Then, if possible, get a duplex or 4-plex, and house hack.  At the very least, you can get a SF and rent room by room if you don't mind roommates.  This same format of renting a room or two can work in Boston if you don't want to commute. You might not be cash flowing, but your expenses are way down, and other people are helping to pay your mortgage.