New Investor in Providence – Looking to Connect and Learn from Local Experts

Member since 2025 · 8 posts · 2 votes

I’m new to real estate investing and just starting to dive into the Providence market. I’m excited to learn about the area, its opportunities, and the local investment scene. I’d love to connect with fellow investors, especially those who have experience in this market.

Whether you’re a seasoned pro or someone just starting out like me, I’d really appreciate hearing about your experiences. Any advice, insights, or lessons learned that you’re willing to share would be greatly appreciated. Also open to any networking opportunities, meetup groups, or resources you recommend!

Looking forward to connecting and learning from you all!

Thanks in advance!

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Anthony ThompsonPro Member

Buy and Hold Investor · Cranston, RI · Member since 2013 · 1k+ posts · 1k+ votes

Hi @Dylan Fraembs and welcome to Bigger Pockets and real estate investing!

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.

I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.

And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

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River SavaPro Member
Lender · USA · Member since 2022 · 1k+ posts · 1k+ votes
1y
Welcome to BP, Dylan!
[email protected]
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Anthony ThompsonPro Member
Buy and Hold Investor · Cranston, RI · Member since 2013 · 1k+ posts · 1k+ votes
1y

Hi @Dylan Fraembs and welcome to Bigger Pockets and real estate investing!
If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.
I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.
And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.
1 Reply
Dylan Fraembs
OP
Member since 2025 · 8 posts · 2 votes
1y
Quote from @Anthony Thompson:

Anthony - thanks for the response. I am investing out of state, I am from long island and work in NYC. Owner occupied advantages are sadly not available to me, but if you have any other strategies that you have had success with in certain markets in Providence let me know! Always happy to discuss over the phone.

Hi @Dylan Fraembs and welcome to Bigger Pockets and real estate investing!
If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.
I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.
And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

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Wale LawalBusiness Member
Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
1y
@Dylan Fraembs
The Providence market offers solid opportunities, especially in multi-family and value-add deals. Start by networking at local meetups and connecting with investors, agents, and property managers. Focus on market research by exploring neighborhood rent trends and property values while considering your financing strategy (house hacking, BRRRR, or buy and hold). Keep in mind the potential for higher renovation costs due to older properties and the local landlord-tenant laws.
Good luck!
[email protected]832-776-9582 Podcast Guest on Show #469
NETWORTH BUILDERS5236 Reviews
Website View Page
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Dylan Fraembs
OP
Member since 2025 · 8 posts · 2 votes
1y
Quote from @Wale Lawal:

@Dylan Fraembs
The Providence market offers solid opportunities, especially in multi-family and value-add deals. Start by networking at local meetups and connecting with investors, agents, and property managers. Focus on market research by exploring neighborhood rent trends and property values while considering your financing strategy (house hacking, BRRRR, or buy and hold). Keep in mind the potential for higher renovation costs due to older properties and the local landlord-tenant laws.
Good luck!

Thank you, really appreciate the advice. Focusing on connecting with as many people as possible and looking at plenty of deals.
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Wale LawalBusiness Member
Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
1y
Quote from @Dylan Fraembs:

Quote from @Wale Lawal:

@Dylan Fraembs
The Providence market offers solid opportunities, especially in multi-family and value-add deals. Start by networking at local meetups and connecting with investors, agents, and property managers. Focus on market research by exploring neighborhood rent trends and property values while considering your financing strategy (house hacking, BRRRR, or buy and hold). Keep in mind the potential for higher renovation costs due to older properties and the local landlord-tenant laws.
Good luck!

Thank you, really appreciate the advice. Focusing on connecting with as many people as possible and looking at plenty of deals.

My pleasure! Keep learning and growing...
[email protected]832-776-9582 Podcast Guest on Show #469
NETWORTH BUILDERS5236 Reviews
Website View Page
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Axel Correia
Real Estate Agent · Rhode Island Massachusetts, & Connecticut · Member since 2022 · 2 posts · 1 vote
1y
Hey Dylan! I am a RI native and an investor-friendly agent! No matter where you are in experience, I would love to help point you in the right direction as well as offer insight into can!
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