All Forum Posts by: Erin Pierce

Originally posted by @Jaron Walling:

@Erin Pierce I would spend 100% of my time (while saving more cash) looking for an off market duplex you could house hack. I agree with other responses about find deals. It's insane right now and basically everything is over priced. Find or create a DEAL with numbers that work as a future cash-flow rental. You could repeat the same thing you did on the first one and sell after 2 years, or you could confidentially hold and cash-flow for many years.

 Great thank you for this suggestion!

Originally posted by @Austen Mueller:

Don't forget to look at deals that have been sitting on the market for a long time. They get overlooked and could be an alright deal if you can negotiate with the seller, as the leverage swings to you as the home sits for a long period of time. 

Great insight thank you!

Erin

Originally posted by @Kristin Halls:

Hi Erin! This is almost the exact same story as mine! Bought a house off an old guy we knew as-is, put in work to get it to qualify for FHA, Live-in-flip in western Mass, avoided capital gains by staying exactly 2 years, made about 75k, paid off some debt now just living with family and sitting on about 30k in cash waiting for the right opportunity! I've been watching the western mass market and there are hardly any good multifamily properties popping up on the MLS.. and if they do they are wickedly over priced. But I do think that investing in a multifamily or something even with a finished basement to rent or an in-law apartment is the way to go. I've been starting to research finding off-market deals and things like driving for dollars or mail campaigns. I think its going to be the only way to go to get anything these days! We don't stand a chance against the established investors for MLS properties hahah they get scooped up so quick! I'd love to connect and chat further about goals and what not! Feel free to shoot me a message :) - Kristin

Hi Kristin!  Nice to meet you, I love that we have a similar story in the same area! Connecting would be great, I will send out a message to you :)

Erin

Hi everyone! A little back story, I am in the process of selling my first house which was a fixer upper. My house was purchased in 2019 from a family acquaintance with an FHA loan. Before I could get my loan my dad and I with the help of friends/family put in many hours to fix the house in order to get approved for the FHA loan. The previous owner was also a hoarder so needless to say I had already invested a lot into the home before I even owned it. (But I got the house!) Six months later I closed.

  Fast forward two years later as we were waiting for the capital gains tax to be waived, we are ready to sell. We have comfortably about 80k in equity from the original price of my loan. I am spending around 17k of that to clear my own personal debt along with my husbands. Here is where I need advice. This is something I worked so hard for and I want to make sure I do the right thing to get the most out of this situation. We are moving into my parents basement during this transition so we don't need to use that money on another living area. We want to purchase a rental property and are thinking, duplex? Is this advisable? Or is there somewhere else I should be starting? I live in western mass. I am thinking another state for the rental property but would like others opinions! Thank you in advance to anyone who took the time to read this and respond!

Erin

Originally posted by @Aaron Montague:

Hello @Erin Pierce, great name!

Welcome to BP.  It is always good to see fresh faces, especially here in MA. 

Bring forth your questions and we'll answer them as best we can :)

Likewise! :) Thank you Aaron, I appreciate that.
 

Thank you Dmitriy! :)

Hi Abby, so nice to meet you! I am pleased as well to see someone from our area. Great to hear you are working on your RE license, I would like to do the same.  Any recommendations on classes in our area?

Thank you
Erin

Hi all! 

My name is Erin Suriner-Pierce but I usually just go by Erin Pierce. I am 25 and live in the hilltowns of Western MA with my husband and daughter.

Currently I own a 2 bed, 1 1/2 bath on 2 acres.  The house was a fixer upper I purchased from a family friend two years ago. 

My goal is to buy rental properties and a few fixer uppers.

I am thrilled to be here, thank you!

Erin