New to this

[Michael Tassinari]

Hi, I recently purchased my first 2 unit investment from a family member at a much discounted price.  Most of my money went into that. The property is located 20 minutes north of Boston.   The rents are under market value, I’ve already raised them $150 each unit and am now cash flowing $338 between both of them.  I will continue to raise the rents year after year until they become vacant and I can list them at market value but I do value the good tenants who have been there a while.

 Now living in the part of Massachusetts I live in, condos are 400-600k, single families 600k+, multi families 700k+….. I would really like to build my family a nice real estate portfolio and work towards another door but the numbers on a good deal don’t seem to be working for me.  The youtube videos, the books, the forums, they all have people buying multiple doors per year for 100k with cheap taxes, low insurance, small closing costs, etc.  Is there anyone out there in a market like mine that can offer advice on how I move forward towards getting another rental unit.  I’ve scanned multiple listings and the good deal isn’t matching because the mortgage payment/interest is way too high, followed by renovation costs also being high.  Any information would help.

thanks, Mike