Rental Property Investor · Springfield, MA · Member since 2015 · 7 posts · 5 votes
Hello Everyone,
I just bought my first investment property by myself (no money from other investors) at 22 y/o. It is a three family house in a great section of the 413 area. I am currently looking for tenants to occupy the first and second floor while I live on the third (penthouse) : )
I used savings from my job and income through the stock market (options) to generate the necessary funds.
After the property is rented, I would like to save some more money and start searching for a 2nd property with the help from commercial lending or a conventional mortgage.
Sometimes folks will upgrade the unit they live in, then rent that for more, move into another, upgrade that unit, rent for more.... until all three are maxed out, THEN get another.
Be careful what you upgrade, most improvements I do are 3X, so look a your competition.
What's with the"... by myself at 21y/o"you bragging or complaining?;-)
Real Estate Broker · Manchester, NH · Member since 2014 · 630 posts · 420 votes
11y
Hey @Roland Barbeito! Welcome to BiggerPockets! Investing young is always such a fantastic thing. I'm a young guy myself, and I've gotten myself into the business as a real estate agent working with investors (don't have the money yet to fund my own!).
Best of luck to you, and keep in touch! If I can ever be of assistance, let me know.
Welcome to Bigger Pockets. It is a good place to connect with real estate professionals and to learn about real estate. For example, you set up key word alerts. http://www.biggerpockets.com/alerts
Real Estate Broker · Berkshire County, MA · Member since 2014 · 81 posts · 23 votes
11y
Hi Roland,
Welcome to the site and congrats on your first purchase! What part of the 413 do you focus on, Springfield area? I live/invest in Berkshire County. Let me know if you have any questions.
Rental Property Investor · Springfield, MA · Member since 2015 · 7 posts · 5 votes
11y
Right now, I'm interested in Westfield because the college is here and is expanding rapidly. The future of Westfield looks very positive, I've seen plans for the future of downtown and the city is investing money so it can behave more like a Northampton or Amherst by bringing in more working professionals and businesses.
Welcome to BP! This is my favorite place to learn and network. If you want to meet other investors like you check out the WMASS REIA. Links in my signature. I fix and flip with my business partner, but also have rentals in my portfolio in Westfield, Springfield and Agawam. Tons of multi family investors in our group. Also we have an awesome FB page to ask questions, float deals, and network. If I can ever be of service to your business give me a call.
Massage Therapist · Chicago, IL · Member since 2015 · 613 posts · 84 votes
11y
@Roland Barbeito
Welcome to Bigger Pockets. You are off to a great start. Take advantage of what Bigger Pockets has to offer such as: word alerts feature, forums, blogs, ebooks, podcasts, webinars, informative people in many fields of real estate, contacts, and more. Connect with REIA meetings, accountability partners, and mastermind groups. Enjoy as you prosper.