Aspiring Investor in Central Massachusetts

5 Replies

Hello Bigger Pockets

My name is Randy and I am planning  to begin my journey investing in real estate.  I have been in and around construction all of my life.   Currently, I have a W-2 position as a Commercial Construction Superintendent Boston area. I am wanting to start with purchasing, rehabbing, and selling single family properties in and around Worcester, MA.  I plan on financing with hard money to generate a small working capital fund. Longer term, I want to parley the profits from flipping into long term small multi rental units.  I would love to connect with fellow investors who I can bounce ideas off of.

Welcome @Randy Davenport BP is a great place to share ideas and get feedback. Your construction background will help you as you first start out on this journey and may even open up other opportunities as well. Have you thought specifically about what you want out of real estate investing long term?

you will find that worcester is a solid active market.  i view potential flips on a regular basis for people.  saw one on sunday in Holden, MA 

sometimes you can even have a buyer before you start the work!

@Randy Davenport Welcome to the BP community. Sounds like you know what you want. If you end goal is to be in multifamily I do want to make note that you do not have to go the fix and flip in SF route to get to MF. I went right to MF. Food for thought... Happy investing!

Thank you for the warm welcome Fellas!  @Matt Engle ,  my goal with Real Estate is to, short term, generate working capital, so I can easier/quicker purchase properties, that might pop up, without depending on a bank or lender. Longer term, my goal is to generate passive income, to add to my cash flow and to build equity that could be used as an additional retirement account.

@Brian J Allen , are you viewing these flips as potential listings? How are you hearing about them?

@Scott Morongell , I want to start with the fix and flip route because I already know what I am doing, so to speak. I have worked on many flips, just not as the owner. I am figuring that single family is closer to my comfort zone, where multi family, is a little out of my wheelhouse. I know remodeling is remodeling, regardless what kind of building it is in. I guess I am saying, I want to cut my teeth on how to make the deal, on a property that I already have a strong background in repairing. All that said, if the right deal comes up, I am flexible.

i look at all multi's in worcester, and anything that appears to be bank owned or undervalued that shows on the MLS. often investors want to do the flips but not the leg work, typically if i lead them to a property they will have me work as the buyers agent, and hopefully the listing agent after the flip. but currently anything that is move in ready sells right away so there are lots of buyers who will go by and see the work being done and make an offer

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