All Forum Posts by: Ethan Piani-Hohmann

Hi Moe,

Welcome to BP! Your approach of learning before diving in is smart. Your connections with service providers will be invaluable for both multifamily investing and the BRRRR strategy.

For multifamily, start with house hacking a 2-4 unit property to learn while building equity.

For BRRRR, leverage those contractor relationships to accurately estimate rehab costs - this is where many new investors struggle.

Since you're in New Hampshire, connect with local REI groups to find market-specific opportunities and potential partners.

Best of luck on your journey! You're already on the right track. 

I'm a Boston-based realtor who's watched house hackers turn Greater Boston's high-priced market into a wealth-building machine, but let's be real—this area's cash flow can be tough to crack. I'm dying to hear how you're making it work! For those eyeing your first or next investment, house hacking a 2–4 family (live in one unit, rent the rest) is a solid move to cut living costs and build equity. But with prices steep, I want to know: what's your strategy in this market where cash flow's tight but appreciation and a decent cash flow mix make it tempting? Take spots like Salem, Woburn, or Everett—3–4 families run $500–900k, with rents at $2,000–2,800/unit. You might clear $800–1,500/month after expenses, plus 5–7% yearly appreciation. Lowell's another example, with cheaper multis ($500–700k) and similar rents. My clients have house hacked Woburn 4-families, living rent-free and pocketing $1,000/month, or gone BRRR on fixer-uppers to pull cash out. But what's your approach? Are you chasing off-market deals in Salem for better numbers? Banking on Everett's growth? Or maybe tweaking rehabs to boost rents in Woburn? How are you balancing the slim cash flow with appreciation? Are you cool with breaking even upfront for long-term gains, or do you have tricks to squeeze out more monthly profit? And what markets are you digging into—any hidden gems in Greater Boston? For first-timers, are you stressing about down payments or tenant issues, and how're you tackling those? Seasoned folks, what's your next house hack look like? Spill your game plan—what's working, what's not, and where are you hunting for deals? Let's swap ideas and figure out how to crush it in this crazy market!

Hey Khaled,

I’m a Watertown realtor, and I work with a ton of investors in Massachusetts, so I’m pumped to see you hustling as a wholesaler with two properties already lined up! 🙌 I get your urgency to find active cash buyers, and your questions about BatchLeads and PropStream are spot-on. Here’s some quick value on finding investors, based on what’s worked for my investor clients, plus a nudge to connect since I might be able to help you directly.

Both BatchLeads and PropStream are solid for finding cash buyers, but I’d lean toward DealMachine or PropWire for your needs. Here’s the play: use DealMachine or PropWire to search recent cash sales in Massachusetts, then filter for folks owning 4+ properties—those are your serious investors. You can pull their contact info (names, phones, emails) with their skip-tracing tools (DealMachine’s is free, PropWire’s is $0.12/record). Reach out with your deals via calls, texts, or postcards. My clients have built killer buyer lists this way, flipping deals fast. DealMachine’s mobile app is great for on-the-go searches, while PropWire’s free data pulls (up to 10k/day) are awesome for big lists, though owner info can be hit-or-miss.

Facebook groups are a good start, but direct outreach to proven buyers is where the magic happens. Since I work with a lot of cash buyers in MA, let’s connect—I might have investors who’d vibe with your properties. DM me to chat about your deals or get tips on reaching those buyers. Happy to dive deeper! 💪

Thanks,

Ethan

Hey Cameron,

Watertown realtor here, do a ton in Lowell. Stoked you found a 2-unit in your $400–500k range—nice! Those tenants at $800–850 are way below Lowell’s $2,000–2,450 market for 2-beds, and I feel you on whether a light rehab to hit $1,700–1,900 makes it worth it. Foundation’s a concern too. Here’s quick value on handling those low rents, based on my Lowell clients.

- Lowell Market: Your rehab plan’s solid—$1,700–1,900/unit is doable with basic updates (paint, flooring, fixtures). I’m seeing $1,800–2,100 rents post-rehab. Check that foundation tho—could cost $5–20k. What’s your reno budget?

- Tenant Strategies:

- Bump Rents Post-Rehab: Rehab, then pitch tenants $1,700–1,900 leases. My clients pull this off in Lowell, keeping tenants with nicer units. MA laws are strict, so check leases.

- Cash for Keys: Offer $2–4k to bounce. A client paid $3k, re-rented at $2,000, and made it back fast. Wanna talk how to do this?

- Vacant Contingency: Push for vacant delivery in your offer, but sellers might say no unless they’re eager. I’ve made it work for clients. Curious how to write it up?

- Worth It? At $450k + $20k rehab, $1,800/unit ($3,600/month) gives ~$2,500/month cash flow—7–8% return, decent for Lowell. If tenants stick at $800, it’s rough till you reset rents. Skip it if foundation’s a mess or tenants are locked in. A client flipped a Lowell 2-family like this, hit $2,000/unit after $15k rehab.

Sounds like you’re worried about tenants tanking the deal. If foundation’s cheap and you can reset rents in 6–12 months, it’s a winner. DM me to run numbers, sort tenant plans, or scope other Lowell deals—happy to chat! 🤙

Best,

Ethan

Hey Juliette,

I’m a Watertown realtor, just down the road from Cambridge, where I handle a ton of rentals. I’m kinda surprised your 1-bed apartment is only bringing in $750/month—that’s low for Cambridge. Here’s how you can make more from this place without selling. Selling’s an option too if you can get the trustee to agree.

- Cambridge Rental Market: After the August reno, you could probably get $3,200–3,500/month with updated finishes. I see that a lot with Cambridge rentals. If you want to keep costs down, things like new lighting, cabinet refacing, or fresh paint might bump rents to $2,800 before the reno, pushing your $15–20k NOI closer to $25k/year. You DO NOT want to miss the peak rental season so try to get this done ASAP.

- Trust Attorney: A trust attorney could help figure out loans or partial payouts to keep the beneficiaries and trustee on the same page.

- Cash-Out Refinance: You could pull $300–400k (50–60% LTV) to cover the reno or invest elsewhere, keeping the property. I've had clients use Cambridge Trust for trust-owned properties like this.

- Private Lenders: If you need reno cash quick, private lenders can offer loans, paid back with higher rents after the reno. I know a few reliable ones if you need names.

- HELOC: A home equity line could give you flexible funds for upgrades with low payments early on, which works well for trusts.

- Cambridge Incentives: The Affordable Housing Trust Fund might offer reno grants if you’re open to including some affordable housing, since Cambridge supports that.

Selling? Cambridge's market is really strong—your $600–650k estimate might be closer to $700k+ now. I've sold 1-beds sell above comps lately. If you can convince the trustee, I can run a quick CMA to show what it's worth. Otherwise, I can share some low-cost upgrade ideas or help get you better rent. DM me to talk rentals, renos, lenders, or a market update—I'm nearby in Watertown and happy to help.

Cheers,

Ethan Piani-Hohmann

Hi Paul,

I’m a Boston-based realtor who’s helped clients navigate 1031 exchanges into turnkey properties, and I’m shocked your 2bd/2ba condo in Southie hasn’t rented yet—prime location like that usually flies! What’s your current rental strategy? Are you listing on Zillow, working with a broker, or targeting specific tenant groups? I handle rentals for clients in South Boston and could potentially help get it leased.

On the 1031/turnkey idea, here’s my take from client experiences:

1. Partnerships:

- Equity Partners: For a 1031, team up with investors to fund a cash-flowing turnkey property. My clients have found partners at Boston REIA meetups to scale into bigger deals. I can connect you with them too.

- Turnkey Providers: Companies like REI Nation have helped my clients swap Boston condos for pre-rented Midwest properties yielding $700–1,000/month.

- 1031 Qualified Intermediary: My clients use IPX1031 , ensuring IRS compliance.

2. Funding Options:

- 1031 Exchange: Sell your condo to defer taxes, reinvesting into turnkeys. Clients have doubled cash flow by moving to markets.

- Private Investors: I’ve linked clients with lenders to boost capital for turnkey portfolios.

3. Leverage South Boston’s Resources:

- Market: Southie’s $3,000–3,500 rents for 2bd/2ba are strong, but your $200–300/month cash flow suggests high costs. Turnkeys elsewhere can hit 10% returns with less hassle.

- Support: Boston’s Office of Housing (617-635-0256) offers rental programs to fill vacancies while you plan.

- TBH - just hire a reputable realtor. You should be able to rent things within a few weeks.

Consider a 1031 if your condo stays vacant 2–3 months or cash flow doesn’t improve. My clients’ turnkey 1031s have been game-changers, but vet providers for tenant history. DM me to talk rental strategy or 1031 intros—I can help with either!

Best,

Ethan Piani-Hohmann

Hi Ema,

To fund your 24-unit Brockton project, start with partnerships:

1. Partnerships:

- Equity Partners: Bring in investors to provide capital for ownership stakes. Use BiggerPockets or local real estate meetups to find them.

- Local Developers: Partner with experienced Brockton developers for funding and expertise. I can connect you with a few—DM me.

- Professionals: Work with architects familiar with Brockton’s Form Based Code and zoning.

2. Funding Options:

- Banks/Credit Unions: Pitch local lenders with a plan showcasing your CSL background.

- Government Programs: Apply for MassHousing loans, HDIP tax credits, CDBG funds, or Opportunity Zone benefits (Brockton has four). Explore MassDevelopment for Brownfields funding.

- Private Investors: Seek additional investors through networking or real estate groups.

3. Leverage Brockton’s Resources:

- Align with Blueprint for Brockton and TOD goals near MBTA stations.

- Contact the Department of Planning (508-580-7113) for zoning and incentives.

- Engage the Brockton Redevelopment Authority (brocktonredevelopmentauthority.com).

4. Network:

- Post on BiggerPockets for investor interest.

- Connect with Metro South Chamber of Commerce or Downtown Brockton Association.

- Tap MassDevelopment’s TDI for technical assistance.

DM me for developer connections or further help!

Best,

Ethan

Hey Tre,That's a great question! I've helped tons of clients buy their first property and snowball their portfolios through house hacking in Massachusetts, and I'd love to share some markets where my clients have seen awesome cash flow. I highly recommend Lowell and Woburn, along with a couple of other solid picks for your first house hack or FHA 203k loan:

1. Lowell: Multifamily homes here run $350,000–$450,000, with 2–4-unit rents at $1,600–$2,200. My clients love Lowell’s strong tenant demand from UMass Lowell and growing tech/healthcare jobs. Older properties are perfect for 203k loans to fix up and boost cash flow, especially in areas like the Highlands.
2. Woburn: Just north of Boston, Woburn’s 2–4-unit properties go for $650,000–$850,000, with rents averaging $1,800–$2,300. My clients have nailed great cash flow here thanks to its proximity to I-93/95 and demand from commuters. Fixer-uppers are common, making 203k loans a great fit.
3. Quincy: Near Boston, Quincy’s multifamily homes are $600,000–$700,000, with rents around $2,000+. My clients have turned these into cash-flow machines using 203k loans for renovations, fueled by Red Line access and tenant demand.
4. Fall River: With multifamily homes at $350,000–$400,000 and rents of $1,500–$1,800, my clients have built strong cash flow here. The older housing stock is ideal for 203k-funded upgrades.

Quick Tips:

• Target 2–4-unit properties to live in one unit and rent the others. FHA 203k loans allow 3.5% down and cover renovations for cash-flowing fixes.
• I run detailed cash flow analyses for my clients to ensure rents cover the mortgage and generate profit.
• Work with a 203k-experienced lender and contractor—I can connect you with pros I trust.

Hi Zhao,Turning your third-floor studio into a legal standalone unit in Somerville, MA, is a smart way to increase your property’s value and cash flow. As a rental agent who’s guided many clients through this process, here are some key steps and tips to consider:

1. Zoning and Permits: Confirm with Somerville’s Office of Strategic Planning and Community Development (OSPCD) that your property’s zoning allows a three-unit multifamily. You’ll likely need a building permit and possibly a special permit or variance. A local architect or permitting expert can help navigate this.
2. Building Code Requirements: The studio must comply with Massachusetts Building Code, including proper egress (e.g., staircase or fire escape), fire safety (smoke/CO detectors, fire-rated walls), and independent utilities (heat, electricity, water). Sub-metering utilities is ideal for tenant billing.
3. Upgrades and Costs: Expect costs of $50,000–$120,000 for plumbing, electrical, or structural upgrades. Hire a licensed contractor to assess your systems' capacity. Somerville's high studio rents ($2,000+/month) often justify the investment, but run a pro forma to confirm ROI.
4. Parking and Other Rules: Check if Somerville requires off-street parking for a new unit, though exemptions may apply near transit. Also, ensure compliance with tenant laws if the studio is occupied.
5. Hire Local Experts: Work with an architect and contractor experienced in Somerville multifamily conversions to avoid costly delays or revisions.

Next Steps: Reach out to OSPCD for zoning details, get a contractor’s estimate, and research local studio rental comps. Feel free to DM me for recommendations on local professionals. Best of luck with your project!