Boston, MA · Member since 2014 · 21 posts · 1 vote
Hi everybody,
Just want to say thank you for having such a great site. I have learned so much in the past couple of months since finding Bigger Pockets.
I am new to real estate investing. After listening to every single BP podcast and spending a lot of time on this site over the past couple of months, I became inspired and realized that I can do this. My dream is to eventually become financially independent from monthly income generated by a portfolio of rental properties. I currently don't own any properties, but have been researching properties in various markets across the US with the intent to buy in the next six months.
My goal is to aquire a portfolio of ten rental properties within the next five years. Each property will generate at least $200 per month cash flow for a total monthly income of $2000.
I still have so many questions and obviously have a lot to learn, so I am very happy to have found the forums here where I know people are willing to help newbies like me. Thanks again!
@Scott Campbell There is a lot to consider when deciding what to invest in and where to invest. I recommend looking into local networking events such as Black Diamond hosted by @Ann Bellamy in Waltham and Worcester, and a quarterly meet up in Woburn area hosted by @Justin Silverio
If you have any local questions, feel free to reach out to me. Good luck!
@Scott Campbell There is a lot to consider when deciding what to invest in and where to invest. I recommend looking into local networking events such as Black Diamond hosted by @Ann Bellamy in Waltham and Worcester, and a quarterly meet up in Woburn area hosted by @Justin Silverio
If you have any local questions, feel free to reach out to me. Good luck!
Hi Scott! Are you originally from Boise? If you ever visit, we should chat. It sounds as if we have similar strategies. I also work with out of state investors looking to invest here. Thanks for the introduction!
@John Van Uytven thanks! Well to start, I would like to help the Bigger Pockets community in whatever way I can. My knowledge of real estate investing is limited compared to others on this site, but I do have local knowledge of Honolulu, Hilo, and Kona, Hawaii real estate and rentals, as well as Boise, Idaho. I lived in Hawaii for 13 years prior to moving to Boston, MA last year. I would love to answer any questions about those areas to people interested in investing there.
I think that the BP community will help me learn how to achieve my goals in real estate, and at the same time build connections that could turn into fruitful partnerships in the future.
I recently read the beginners guide to investing (which was great) and plan on getting the book of flipping houses soon too. I read Rich Dad Poor Dad after hearing so much about it on the podcasts, and loved it. Speaking of the podcasts, they are awesome... I couldn't stop listening once I started (I'm already on my second round ha ha).
@Scott Campbell There is a lot to consider when deciding what to invest in and where to invest. I recommend looking into local networking events such as Black Diamond hosted by @Ann Bellamy in Waltham and Worcester, and a quarterly meet up in Woburn area hosted by @Justin Silverio
If you have any local questions, feel free to reach out to me. Good luck!
Thanks for the recommendation, Ill look into that. I feel like many properties in the Boston area are out of my price range, but I have been looking into some of the smaller surrounding areas and they seem to have a lot of potential. Being new to this area, I would have a lot of research to do on the local market...
Hi Scott! Are you originally from Boise? If you ever visit, we should chat. It sounds as if we have similar strategies. I also work with out of state investors looking to invest here. Thanks for the introduction!
Hi Jonna, I grew up in Boise and return there to visit family quite often. I'd love to meet up sometime. Are you involved in rental properties in the Boise area? I have been looking into getting a rental in Boise since it would be easy to have a family member check up on the place occasionally :)
Welcome to the site. You certainly have the coast to coast thing covered :). Keeping soaking up the info on here and anywhere else you can get it. @Jonna Weber is a great resource if/when you do come to the Boise area.
Do you have any idea of where you are going to start looking for rentals? My suggestion would be to look in Lowell, Haverhill or Worcester county. Those areas have a much lower price point than areas closer to Boston.
You're welcome to attend my event. The next one is on Sept. 10th at one of my rehabs in Stoneham. Feel free to PM me with your email and I'll put you on my mailing list.
Hi @Scott Campbell - yes, Boise is where I invest and also serve others as an investor agent. I will send you a message so that you have my info handy. Would love to grab a cup of coffee next time you are here.
Hey @Scott Campbell welcome to BP! I'm glad you're enjoying the podcast. You should definitely start jumping right in the forums! Also, if you haven't yet, try to setup some "Keyword Alerts." It's great for getting into local conversations.
This is a great place to learn. Make sure to listen to all the BP podcasts, read the articles on the main blog and be active in these forums to learn a ton very quickly about any topic in real estate you want to know more about.
This is also a great place to meet people that can be assets to your business. Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.
Besides doing that on here make sure to get out to some of the many local investor events we have. Black Diamond (Waltham meeting is this coming Tuesday) and Justin's event are both great and I'd recommend them. Lots of other ones as well. I usually go to the Boston AREIA in Medford (Just missed the meeting last night) and the NEREIA in Chelmsford. There are other ones north of the city and lots south as well.
I really like your goal since it is aggressive but very attainable (Unlike if you said you wanted to do that in 6 months or something). You might have a harder time if you are looking for blue chip properties near Boston or in HI it might be a bit tougher with the high prices. If you look in some of those outlaying areas in MA that Justin mentioned or down on the South Coast (New Bedford and Fall River etc.) you will find lower price points and better initial cash flow.
Thanks Aaron, those are good links... Yes, from what I have seen so far, Boston is really expensive. I recently learned about Worcester though. It seems like it has potential for rental income, a lot of properties are under 200k, and there is UMass medical school there so lots of renters. Still shopping around for a good market to start out in, and Worcester is on my list. Id be curious to hear of anyone's experience there.
Hey @Scott Campbell welcome to BP! I'm glad you're enjoying the podcast. You should definitely start jumping right in the forums! Also, if you haven't yet, try to setup some "Keyword Alerts." It's great for getting into local conversations.
Thanks Brandon! Definitely love the podcasts... They also convinced me to get the audiobooks of Rich Dad Poor Dad and the E Myth, both of which were great. Next on the list is the Four Hour Work Week :)