First time homebuyer: beginning of REI Journey

7 Replies

Hi BP,

I am a newbie that has been religiously listening and reading bigger pockets for the past couple years. I am very interested in the buy and hold strategy, and I'm finally in a position where I can start to look for a property. I have recently gotten prequalified for a mortgage so I am reaching out looking for a good real estate agent that knows the Worcester Massachusetts market. I plan on buying an affordable single family home and house hacking it with roommates. I’m specifically looking for someone who has experience working with first time homebuyers and possibly investors. If anyone has recommendations, or even any advice for someone starting their real estate journey I would love to hear from you. Thanks!

Welcome and good luck on your journey! I am glad you decided to educate yourself beforehand, but the best education is actually doing it. Simply ask the agents that you contact if they own any rental properties themselves. They will probably ALL say they work with investors, but working with them and actually owning them are two different things! Good luck!

@Nishan Papazian hey Nishan, congrats on getting your self set up for success. I work with first time home buyers/investors like yourself that are looking to do a BRRRR or house hack. I don't know the Worchester market but if you ever want to look in Ct or Springfield area of MA, let me know, I'd be happy to help out.

There are a lot of opportunities to save money with multi family properties in Worcester.  The market is hot, but there are still deals.  Also, since the prices are rising, there is an opportunity to build equity while living there.

I'm from MA and have been looking at Worcester very closely the past 6 months.  I think there's some good opportunities but you have to be patient.  Sellers and their agents are trying to capitalize on the relocation of the PawSox, acting like it will change the area overnight.  I think there's good long term potential but don't get caught up in all the hype.  

The small single family market in worcester and surrounding towns is seeing a price decline, and due to the typical weather trends in sales, there will be some dips.  There are a lot of houses that people simply dont want to hold through the winter.  The key is working with someone local and finding those.  there is upside on the house hack front as you can get appreciation as well.  it is much easier to find appreciation on a SF house then on a MULTI