All Forum Posts by: Luke Arcovio

Well both locations are within an hour drive of where I am and the investment for those properties are substantially cheaper in regards to where I am located (the boston area). I want to avoid investing in a PM right now, considering I need the learning experience and don't mind the commuting (used to it, with 2 hours of traffic a daily thing lol). However, I am weighing the risks and rewards of being a landlord in these states as opposed to MA where the laws strongly favor the tenant. Been reading the landlord laws and just looking to see what people's experiences were in regards to that. 

Thank you for the information though :)

Hey Keith,

Thanks for the great info, that definitely helps narrow down the field. Also good to know I only need to live in the house for 1 year and then can rent out that unit too. I would probably avoid buying the single family unit afterwards as it wouldn't be much of a cashflow and more of a liability against it. Rather re-invest the extra income into another multi-family to expand the cash flow and still receive the appreciation, tax benefits and NOI. Would also add as a security against each other in times when one unit fails to pull in income (worst case scenario of course).

Quick question; what do you think the perks are of investing into a rental outside of the state of MA (such as RI or New Hampshire?)

Thanks,

Hey guys,

So I live in the beautiful and expensive Suffolk county area of Massachusetts (boston) and looking at the REI opportunities available to me. I am strictly interested in the MF units of at least 3+ units as they seem to hold the best potential for a positive NOI on a yearly basis. I run specific numbers for each listing to see if it would qualify for what I am looking for. A lot of the units don't simply because of the rental rates and the property taxes/mortgage expenses that I would need to cover for each month, not including expenses. Some investments would only trickle 6k cashflow and wouldn't be worth the time and energy to put into it. This is also if I rent all the units and don't live in them.

Since I essentially am looking for the best opportunity available, I see myself using an FHA loan and find a place to cover those interest and insurance I will have to pay on top of the mortgage itself and property taxes. However, if I choose not to live in the MF unit, and just rent out everything, what are the pros and cons of that? Would I be able to claim the entire property as a tax deductible business expense (appreciation, interest payments, tax payments made for the house itself, etc.). I just want to know as much as I can about this kind of investment from those who may have experienced this before. I really don't see/know the benefits of house hacking if I can just rent out the entire thing and live somewhere else for free (living out of my parents home, for example, but right now I rent) for a couple years.

Any info will be helpful and if I am being too broad, I apologize, I am still new to this (only been researching this stuff for 2 weeks now) and constantly absorbing what I can.

Thanks

Hello Everyone,

I am come from the Boston, Ma and am actually looking to start investing into Real Estate, but specifically multifamily units that are 5+ or more. I have been listening and reading a lot from YouTube and Grant Cardone, so I am starting to understand a lot more about what this arena entails. Knowledge is power and I definitely can see that there. 

Currently I have been looking at the property around my area and did find a 7 BR unit going for 500k. The location is 2 blocks from the town center and its only just recently been put on the block. I have never bought a home but never paid rent either. i learned from a young age to utilize multi level units for rent to spin for income while maintaining a full time job as well. I want to start using that to develop rental unit properties into income. While I have been looking at first time home buyer programs for mortgage lending, it doesn't seem feasible as I don't have a real desire to actually live in the unit (just make it run money and rent out all the units if possible) because my current location is already operating as a revenue stream (I live in a multi floor 5 BR unit and rent out 4 rooms). So I don't want to lose that lease agreement.

I am actually just here to learn as much as possible from investors, agents and fellow citizens who are looking to break into this market. I look forward to getting to know all of you and I will update my profile accordinly!

Thank you,