Newbie from Cape Cod MA. Time to make a plan!

6 Replies

Hi, I'm Nicole. I live on Cape Cod, Massachusetts.  I found BiggerPockets through an article written for Entrepreneur.com. I'm looking forward to learning a lot from the site. I currently make homemade chocolate for my online store. 

About 10 years ago, I was the administrative assistant for a small real estate invest company out of the Boston area. This position taught me quite a bit. I also had my real estate license and sold homes on the Cape at this time. My father also flipped and had rental homes so I was able to learn from him as I was growing up and into my early 20's. My husband and I bought our primary residence 4 years ago and had a fair amount of work done on it, increasing the value. We are currently in the process of selling it.

My short term goal is to gain as much information as I can in the next few months, and buy my first property in 2016. 

I have very good credit but honestly very little money. I'm currently looking to just gain info and create a plan for going forward. Maybe I'm crazy? 

Hi Nicole,

Welcome! Fellow Cape Codder here.

So you are selling your primary residence and looking to purchase a new primary residence correct? If you are purchasing a primary with good credit, you don't need much of a down payment at all (3.5%)... in some cases no down payment.

@JohnTower thanks for the reply! Looks like you have experience in construction, that's great, I bet you'll have much less of a learning curve. Let the fun begin indeed! :)

@MikeFitzgibbons Thanks for the welcome! Nice to see a fellow Cape Codder on here. Close by too. Yes, we are trying to buy a new primary, not much concern there as we have equity in the current home. It's the financing an investment property that will be the challenge and sure to take some creativity.

Welcome, welcome, welcome Nicole!

It sounds like you already have a great foundation to expand upon, and now you have made it stronger by having become part of BP - well done!

Looking forward to your success!

Victoria

Hi Nicole, welcome to BP! I'm from Boston and my parents have a home in Falmouth, I'm looking to buy my first investment property in 2016 and am considering the Cape for a multifamily property. I aim to find one between $200-$300k, and have found a lot of good options especially in Barnstable. send me a direct message if you'd like some of the info I've found in PDF form. since you're a realtor you probably have access to MLS, if not i can share my weekly search results with you too. my goal is to buy in February and have the property ready for tenants by spring.

good luck!

@Victoria Avery Thanks so much for the warm welcome! 

@Ravi P. Sounds like you've got a solid plan going on. I'd love to hear more and lend you some advice on the area if I can or you would like. Thanks for reaching out!

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