New Member Greater Boston

[Rob M.]

Hi Everyone,

I'm from the Greater Boston area and looking to purchase my first buy and hold investment property. My plan is to buy a multifamily that needs minimal work and live in one of the units. I'm hoping the rent from one unit ( or two ) will cover my unit.

The problem i am seeing, is that there aren't many multifamily properties on the market. The ones that are, happen to be 500-600k. Reading some of the articles on this site, it seems that most, if not all properties listed are not good deals. Where should i be looking, so that i can buy this property "right"? Many of you seem to have started this way - how did you find your deal?

Hoping to use an FHA loan to get into this property. Planning on seeing how much i qualify for shortly.

[Rob M.]

Thanks Everyone!

Paul Sorgi - I am looking for a 2-3 family. Really just trying to get a place where the cash flow will cover my portion of the mortgage. This way i can save up for other properties. Are there any areas in particular you think i should look around?

Marco Santarelli At this point i am trying to figure out if i can get into a multi unit property and have the cashflow cover my portion of the mortgage - so i can save up for these properties in other markets. Or if i should just buy a primary residence and save up in the longer term and invest elsewhere. BTW i really like your website - I signed up for your ebook.