Boston, MA · Member since 2017 · 8 posts · 4 votes
Hey BP community! After years of quietly soaking up the knowledge here, I’m finally stepping out of the shadows to introduce myself and hopefully connect with others on a similar path.
I started investing in real estate in 2019, focusing primarily on Washington, DC and Virginia (where I lived at the time). Over the last few years, I’ve learned a ton through buying, managing, and navigating those markets. Lately though, my focus has shifted back home—Massachusetts and Rhode Island, where I grew up and where my heart is.
A bit more about me:
- I work in big tech and am planning my exit in the next few years to focus more on real estate and startups.
- Outside of work and real estate, I love spending time with family and friends, volunteering on farms (I'm a sucker for baby animals and weirdly into manual labor), and being intentional about how I spend my time and energy.
- I'm building a life that’s rich in freedom, peace of mind, and community—who wouldn’t want that?
Looking ahead, I’m hoping to:
- Buy 2-3 multifamily properties in MA or RI over the next year
- Connect with local investors, agents, and operators who know the ins and outs of these markets
- Network with great property managers (I have both worked with property managers and self-managed)
- Continue learning and contributing more here on BiggerPockets
If you’re investing in MA or RI, thinking about leaving a W2 in tech, or just want to trade notes on building a life that’s more abundant—I’d love to connect.
Thanks to everyone who makes this community what it is!
Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.
Why is Property Class so important for investors to understand and apply in their investing strategies?
Because the Property Class dictates the Class of the tenant pool that the property will attract.
The Tenant Class
greatly impacts rental income stability and property maintenance/damage by tenants.
Both Property Class
and Tenant Class affect what type of contractors, handymen and property management companies will work on a property.
If you buy & renovate a property in Class D area to Class A standards, what Tenant Class will rent it?
Or, if you put several Class D tenants in a Class A four-plex, what do you think will happen to the property?
So, if you fail to apply the correct assumptions to a property, your expectations won’t be met and it may even be a financial disaster.
We use the following to rank Property Classes, in order of importance:
Property Tenant Pool: closely linked to location, but not always.
Property Location: closely linked to tenant pool, but not always.
Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”
Key metrics for each Property Class:
Class A Properties: Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years. Tenant Default: 0-5% probability of eviction or early lease termination. Section 8: Class A rents are too high and won’t be approved. Vacancies: 5-10%, depending on market conditions. Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.
Class B Properties: Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.
Tenant Default: 5-10% probability of eviction or early lease termination.
Vacancies: 10-15%, depending on market conditions. Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation. Section 8: Class B rents are usually too high for the Section 8 program.
Class CProperties: Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years. Verifying recent 2-years of rental history very important! Same for 2-years of job/income stability. Tenant Default: 10-20% probability of eviction or early lease termination. Section 8: Class C rents usually meet program requirements, proper screening still recommended. Vacancies: 10-20%, depending on market conditions and tenant screening. Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.
Class DProperties: Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months. Verifying last 2-years of rental history and income/employment extremely important to find the “best of the worst”. Tenant Default: 20-30% probability of eviction or early lease termination.
Section 8: Class D rents meet program requirements, often challenges to pass Section 8 inspection. Vacancies: 20%+, depending on market conditions and tenant screening. Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciation.
Where did we get our FICO credit score information from?
Hey BP community! After years of quietly soaking up the knowledge here, I’m finally stepping out of the shadows to introduce myself and hopefully connect with others on a similar path.
I started investing in real estate in 2019, focusing primarily on Washington, DC and Virginia (where I lived at the time). Over the last few years, I’ve learned a ton through buying, managing, and navigating those markets. Lately though, my focus has shifted back home—Massachusetts and Rhode Island, where I grew up and where my heart is.
A bit more about me:
- I work in big tech and am planning my exit in the next few years to focus more on real estate and startups.
- Outside of work and real estate, I love spending time with family and friends, volunteering on farms (I'm a sucker for baby animals and weirdly into manual labor), and being intentional about how I spend my time and energy.
- I'm building a life that’s rich in freedom, peace of mind, and community—who wouldn’t want that?
Looking ahead, I’m hoping to:
- Buy 2-3 multifamily properties in MA or RI over the next year
- Connect with local investors, agents, and operators who know the ins and outs of these markets
- Network with great property managers (I have both worked with property managers and self-managed)
- Continue learning and contributing more here on BiggerPockets
If you’re investing in MA or RI, thinking about leaving a W2 in tech, or just want to trade notes on building a life that’s more abundant—I’d love to connect.
Thanks to everyone who makes this community what it is!
Hi @Ursula Lauriston, welcome to the BP Forum! What size MF are you targeting, 2-4 or 5+? What is your price range/down payment amount? Are you looking for turn-key properties or something along the lines of a "fixer upper"?
Great to see you stepping into the conversation, welcome! It sounds like you’ve built a strong foundation in both DC/Virginia and now Massachusetts/Rhode Island. I’m based in Rhode Island and specialize in residential real estate here, so I’d love to connect and trade insights as you dive deeper into these markets. Currently working on my Massachusetts license.
Your shift from tech into real estate is exciting. The transition can be a game-changer, especially with the freedom and flexibility that investing provides. If you're looking for local market perspectives, strategies on multifamily acquisitions, or simply want to swap notes on property management, I’d be happy to chat.
Looking forward to seeing more of your contributions here on BP!
RI can be a great place to invest in real estate—it is very dense with multi-family properties. However, make sure you stay up to date with the latest legislation.
Happy to connect - we are real estate investors and run a property management company in RI so we're in the thick of it :) and can be a good source of info to start in this area.
Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.
Why is Property Class so important for investors to understand and apply in their investing strategies?
Because the Property Class dictates the Class of the tenant pool that the property will attract.
The Tenant Class
greatly impacts rental income stability and property maintenance/damage by tenants.
Both Property Class
and Tenant Class affect what type of contractors, handymen and property management companies will work on a property.
If you buy & renovate a property in Class D area to Class A standards, what Tenant Class will rent it?
Or, if you put several Class D tenants in a Class A four-plex, what do you think will happen to the property?
So, if you fail to apply the correct assumptions to a property, your expectations won’t be met and it may even be a financial disaster.
We use the following to rank Property Classes, in order of importance:
Property Tenant Pool: closely linked to location, but not always.
Property Location: closely linked to tenant pool, but not always.
Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”
Key metrics for each Property Class:
Class A Properties: Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years. Tenant Default: 0-5% probability of eviction or early lease termination. Section 8: Class A rents are too high and won’t be approved. Vacancies: 5-10%, depending on market conditions. Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.
Class B Properties: Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.
Tenant Default: 5-10% probability of eviction or early lease termination.
Vacancies: 10-15%, depending on market conditions. Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation. Section 8: Class B rents are usually too high for the Section 8 program.
Class CProperties: Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years. Verifying recent 2-years of rental history very important! Same for 2-years of job/income stability. Tenant Default: 10-20% probability of eviction or early lease termination. Section 8: Class C rents usually meet program requirements, proper screening still recommended. Vacancies: 10-20%, depending on market conditions and tenant screening. Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.
Class DProperties: Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months. Verifying last 2-years of rental history and income/employment extremely important to find the “best of the worst”. Tenant Default: 20-30% probability of eviction or early lease termination.
Section 8: Class D rents meet program requirements, often challenges to pass Section 8 inspection. Vacancies: 20%+, depending on market conditions and tenant screening. Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciation.
Where did we get our FICO credit score information from?
