Multi-family property buying Boston MA

2 Replies

@Joel Harper

1. Get your financing lined up first.  Until that's securely in place, you're not in a position to make offers.

2. Decide what locations you'll consider.

3. Get connected with a good full-time Realtor.

4. Start looking at properties.

5. When you find one that works, write an offer.

6. If accepted, do your inspections.

7. If acceptable, write the P&S. (We're a 2-contract state)

8. Get the P&S to your lender who will start the underwriting process.

9. Get your loan commitment from the lender.

10. Close.

#BOOM.  You're a landlord.

@Joel Harper

As mentioned you want your financing set up. Do you plan to live in the property as well? If you are purchasing as an investment property, you will need 25% down for the purchase, as well as closing costs and reserve requirements. 

Getting pre-approved would be the next step, when you have the savings account ready.