New investor from Boston, MA

9 Replies

Hi All,

I just wanted to introduce myself and say "Hi". I recently joined BP to get started in REI with my main interest being rentals in the Massachusetts area. What attracted me to BP was the network of people who actively participate in the forums and wanted to connect with like-minded individuals.

As for my background . . .


I'm originally from Massachusetts and have lived all around from growing up in central MA, going to college in western MA, and now living in Boston, so I'm pretty familiar with the general landscape of the state. I currently own a condo in South Boston for which the mortgage is my only source of debt. I'm employed full time as a sales engineer so real estate investing would be more a side project for me to earn additional income.

As some of you may know, the Boston real estate market has been booming recently so the Boston metro area is probably outside my wheelhouse. Ideally, I am looking for a property within an hour drive of Boston and no more than about 325k, with places near the commuter rail being very attractive. So cities like Worcester or Lowell seem to fit the bill, but I'm very much open to new ideas and suggestions.

Anyways, as I said before, I would love to meet/chat with any local investors, real estate agents, contractors, etc. So feel free to PM me. Also, I'm open to any advice, recommendations, or comments about investing in the Massachusetts area.

Thanks!

@Vu Huynh Welcome to BP! 

If you haven’t already listened to the podcasts I’d start there.

Podcasts

Episode 108 - Grant Cardone... Just listen…

Episode 283 Paul Thompson - Quite a new episode but I would think everyone would agree this is a top episode. Mainly, the systems implemented are fascinating (VA, automated offers, etc.) Plus...escape velocity...

Episode 113Jay Papasan - Very practical slow and steady advice

Episode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k

Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.

Amanda Han

Brandon Hall

Tax Reform Update – Brandon Hall and Amanda Han

Linda Weygant

Guides

Ultimate Beginners Guide

Forum Stickies

BP Calculators or spreadsheets uploaded by members

My Favorite Books

I have to say all of the BP books…right? :)

The Millionaire Next Door

The Millionaire Real Estate Investor

What Every Investor Needs to Know About Cash Flow

Hope this information can give you a good start. Feel free to reach out with any questions. 

@Vu Huynh

Welcome to the BP family! Glad you joined the best real estate investing website! Here are some recommendations for you:

Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

Wishing you the best!

Hey all,

Great stuff so far. I am overwhelmed with all support I've received in the past few days and have made some awesome connections. It really feels like I'm part of a community than just another contributor on anonymous online forum . . .

But I've been crunching a few numbers and feel there may be better opportunities in western MA, specifically in Hampden County including places such as Holyoke and possibly Springfield. Even though it is farther than I originally desired, the uptick in income would allow me to hire a PM and still have a greater return. So please let me know if you have any thoughts or recommendations in these areas as well.

Regards, 

Vu

Holyoke/Springfield allows you to buy in for cheaper w decent rents so the ratios will probably be better than around Boston for sure! 

I personally like the stable market around Boston.


But you have an advantage as you're already familiar with the area, so I think it's a sound move to make! You'll probably be able to buy more than 1 property!

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