All Forum Posts by: Chris Roche

Willie,

     Thanks for the answer.  I believe the 128k came from using MassHousing to finance?  We were going to purchase the MF together, as I do not think either one of us would be able to qualify for the mortgage on our own.  I would love to buy it in just one of our names, freeing up the other name for an additional house down the road.  I will have to look into that.  And yes, please send me the contact info for the mortgage broker you use.  Just curious, what % are you putting down on rentals?  Seems as if that is my biggest barrier to enter the real estate game.

 How long to you can typically refi?  And when you do refi, how would you finance it then?

My wife and I are beginning to look at Multifamily homes to house hack.  We would like to put down somewhere around 5%.  We live in the Greater Boston area so 5% will be somewhere between 20-30k.  I was told by someone that if we make combined more than $128k we need to put down a minimum of 15%?   

Does anyone know if this is true?  Is there anyway around this?  We are very close to making more than 128k, but nowhere close to having 15% down.  I talk in terms of Gross Salary, of course with write-offs and deductions we claim/make less.  What number do lenders use to come up with salary?  I ask because if we need 15% down, we are going to have to buy quickly before we get raises or I make more money on the side.

My second question is: Once we have that first MFR, what is the best way to finance a second MFR? Is it to save up and use a line of equity for the downpayment? House hack again? (not sure how much longer we will be under the 128k limit. I want to get the ball rolling and start buying properties, just seems like there is no quick way to do it. If we bought one MFR and saved up for a second it could take years to get 25% down.

Any help would be appreciated!

Hello,

   I am a real estate agent licensed in Mass.  I am always looking to make more money.

Thanks!

Good Evening,

 I am just starting out with my RE license in Boston, Ma.  I have signed on with a company in West Roxbury.  Can anyone provide me with tips and advice to get started? It seems as if its hard to get started with finding clients. 

Thanks!

My name is Chris. 

I am on BP because I am interested in purchasing a multifamily next spring. 

But, as a way to build up a down payment, I am a co-owner/operator of C and R Landscaping and Snow Removal. We are currently in the process of placing bids for the upcoming snow season. I can promise you we have quality work, excellent rates, and we are very communicative throughout the season. We also have a shovel crew and we are able to clear parking lots, driveways, and walkways from snow. If you are accepting bids on any properties, we would love to place a bid and work with you to reach an acceptable contract for both sides.

Thanks,

Chris Roche

508-273-3150

How do you guys find properties to flip in Mass?

Seems as if prices are always way to high?

Any advice would be awesome!

The investors want to create passive income.  They don't really want to do any work, other than just receive a check each month.  They are wealthy and have other investments, stocks, etc.  They are looking to diversify their portfolio with RE. I want to earn experience from the property to build my resume and to learn.  What could I charge as a manager 8%?

I was looking in the West Rox, Rozi area.  

I should probably mention - I have investors willing to give me the down payment.  So, I would be purchasing and managing the property for them.