Investing as an international student in boston with $80K
The title says it all. I am currently under F1 Visa status (Student Visa) and get my green card within a year. I have $80K cash, I go to Northeastern University, Boston MA. I have an additional $500K invested into a property (but this was a requirement to get my greencard). This $500K will be given back to me within a few years time. When I do get it, I want to be prepared to best know how to invest it.
My question is, what do you think is the best strategy for me to get started right now?
As a student of economics, I know interest rates are super low, and prices are surging as supply is low of listings. I have done my research and the house market is bound to correct itself and see a crash (minor or major) starting at the end of this year and last at least 2-3 years. I don’t want to miss the opportunity of taking advantage of an opportunity like the 2008 housing crash (as sad as it was).
Very interested in the BRRR method, although still trying to make sure if it will work in my case.
I have been super serious about getting an FHA loan and househacking, especially because $80K down as the 3.5% down payment requirement means the property would be worth more than $2million if I'm not mistaken, but have been told by realtors I spoke to that it may not be "competitive" or sellers may not want FHA appraisers so avoid selling in the Boston area. Do you think this is the best way to go about it? Or should I opt for a traditional loan with 20% down?
I have also been serious about duplex and triplex etc, but problem is it is difficult to find in Boston. I would be open to condos if the opportunity presents itself. I need to be close to my campus too, I can potentially get a car and drive to campus as I only have 2 classes per week, obviously wouldn’t want the commute to be more than 1 hour.
I study Computer Science as a grad student and expect a high paying job once I graduate (entry level is $100K) which would be my income, but currently I am supported by my dad.
My ideal goal is to generate cash flow, even if it is $10 in the beginning. I want to start a portfolio and grow it out long term.
Also, why is literally every multi-family property built in 1900 with fieldstone in Boston?!? That’s like the worst foundation to have, is it not?