All Forum Posts by: Jami Rahman

Hi Everyone,

Before I begin I want to say that I am so grateful for everyone on this website. I have receive many insights and honest answers to my questions. Thank you all for supporting a young and starting investor.

I want to know if anyone had suggestions or referrals to financial advisers, who specializes (and ideally, personally invests) in real estate rental properties. I am looking to go over a few figures with him/her and begin to understand exactly how much the closing cost would be. Furthermore, details about credit union loans versus bank owned loans as well as taxes related to investing in real estate.

I live in Cambridge, MA; but I am more than willing to travel (at the most an hour) to see the financial adviser that you recommend. Also, if the consultation was free that would be great! I am hoping to meet with multiple consultants to get a better understanding of the finances related to investing.

Kind regards,

Jami

Thank you @Tom Goans for your helpful insights. What is your opinion on buying a property in Manchester, NH which is 45 minutes away from where I live (Cambridge,MA). Although I have only looked for a few months, it seems as though cash flow from a property near my area is not very feasible during the mortgage repayment period. I think I would hire a property management company to do the day to day work for me, unless you think I can manage it by myself (I work 45 hours a week 9-6).

Thank you @Shaun Reilly @Justin Silverio @Jerry W. for your help and especially @Ann Bellamy for your extensive response. I will definitely look into going to some of the gatherings that you guys mentioned. I am so grateful for having kind investors like yourselves to help me get started, really makes this journey a hundred times easier and more fun.

Kind regards,

Jami

Hi @Shaun Reilly

Thank you for your insight! I will definitely look into Lowell. The places I have looked at so far are: Boston (Allston, Brighton), Cambridge (where I live, way too expensive!), Somerville, Weymouth, Quincy, Braintree, and Newton/Needham. Any thoughts on these areas?

Also Shaun, what are your thoughts on buying rental property far from where I live (e.g. Manchester, NH)? I know I would have to use a property management company; but as a first time investor do you think it is a bad idea? Or is it just as sound of an investment as investing near me (which again is so expensive).

Hi Everyone!

So I am a recent grad working in the pharmaceutical industry. I wanted to begin investing in a rental property near or around Boston. I am looking to invest with $100,000 down payment for a apartment/condo/multi-family house ranging from $250,000 to $400,000. I am planning to use a property management company (I believe that will cost about 10% of my monthly rent). Although I am just a beginner starting out, I am very committed and financially smart. But I had some questions for everyone here, hoping to get some help from some experts and kind investors.

Can you please provide some scenarios (with my given criteria) where I can expect to earn at least some positive cash flow from renting out a place while paying off the mortgage?

Where can I look to invest in a whole apartment building (6+ Units) with one or two other people near Boston? Is this a good idea in your opinion?

Perhaps Boston isn't the right place to start with my first rental property investment....the prices are quite high (as you'd expect). What other growing cities/towns are worth looking into? I would prefer college towns. Is Manchester,NH a good place to invest in?

Any other advice or resources would be much appreciated.

Thank you all so much for your help and support, I am really excited to learn from everyone here. And trust me, I won't close a deal or finalize anything without the proper research and acquiring various opinions :)

Kind regards,

Jami