All Forum Posts by: Devon Moore

Hi,

I have a my first duplex under contract in Salem, MA and just signed the P&S. I would definitely be interested in meeting other investors in Salem and the surrounding area to learn from their experience and perspective.

Thanks,

Devon

Hi Everyone,

I am a new investor in Boston and looking to Chelsea as a potential area to purchase my first multifamiy property. Can anyone familiar with Chelsea give a rundown of the differences between different areas of the city, where a lot of development is happening, safest or areas with more crime, and any other valuable information for investing in Chelsea.

(Also, I will be doing and FHA loan and living in a unit)

Thanks,

Devon

Hi,

I am a new real estate investor who was recently pre-approved for an FHA loan. I am currently living in Somerville and working in Boston in the banking industry. I am interested in the Everett market and would like to connect with multifamily investors or people with knowledge on the rental market in Everett.

If anyone has any insight let me know. Maybe we can grab coffee whenever you are free.

Thanks,

Devon

Hi!

I was just approved to purchase my first multifamily property. I will use FHA and occupy/ manage the property. I am looking to make sure I account for all costs I will incur from loan closing to lease-up. I have seen many lists in different places on the internet but I to make sure I don't miss anything. If you have any that are a common oversight I would love to be aware.

Thank you!

Devon Moore

@Lien Vuong Some banks and programs will not allow rental income to be included in the DTI ratio and don't rely on that income for debt service coverage in order to get the owner occupied benefits.

@Philip Ganz Thanks Phillip! I will let you know if I am looking to use a broker. Still early in the process now.

@Charlie MacPherson Thank you for the response. Any idea on the DTI requirements, or if these programs include rental income in the DTI calculation?

Hello!

I am forming a list in the Boston/North Shore area of credit unions or banks to reach out to. Can anyone recommend a banks or credit unions that are friendly to first time investors looking to owner occupy a 2 to 4 unit property and can help navigate the many programs/portfolio loans available?

I currently have a solid down payment to get started, especially if it is around 95% LTV. The DTI is my concern now if the lender does not include rental income.

Any information is greatly appreciated!

Thanks,

Devon Moore

Thanks for the replies. Is it possible to do this with no intention of working for the broker?

Hi,

I am a have a real estate salespersons license in Massachusetts and want to get access to MLS. I am not working as a realtor, so I do not work for a broker. I am looking to purchase a multifamily property and want to be able to research properties through the MLS software. How can I get access?

Thanks for the help,

Devon