All Forum Posts by: Nicholas Matthews

I have an interest in Multi-Family properties as cash flow investments. Like many places in the US my market is so hot there are very few opportunities at this time. In the interest of keeping options open as well as getting practice analyzing deals I'd love to hear  from those who invest in multi-family properties outside of their local markets.

1. What markets do you prefer and why?

2. What metrics do you look at to determine whether a long-distance market is worth your time/money?

3. What sources/websites do you use to obtain your metrics?

These are great suggestions, thanks everyone. I would also add @Scott Carson's "The Note Closers Show."

@Christopher Richardson I do realize it's a large area. I've actually narrowed it down a little based on cities/towns with good schools that are within about 1 hour commute of Hanscom AFB during rush hour, and within about an hour's drive of Plaistow, NH where family lives. In MA most homes currently on the market that fit my need are in the Townsend, Pepperell, Hudson and surrounding areas. In NH most homes are in or near the Merrimack, Salem and Milford communities.

I've been tracking the market through sites like Redfin, so I have a partial picture of the market.  Fortunately, the market in CO has skyrocketed during the 4 years I've been here, my own home has increased nearly 45% in value, which is the reason we can afford to move back. I figure once we've purchased our next home, I can narrow my area of focus for investment  opportunities. 

@Jeffrey Goddard Thanks for the response. I look forward to hearing from you.

I moved from Billerica, MA 4 years ago to CO, and I've worked out a job transfer so my family can return to New England in about 1-2 months (waiting on a start date). I'm interested in connecting with investors both for finding a personal residence as well as investment opportunities in the New England area.

For investment purposes I'm primarily interested in multi-family rentals and notes and would love to network with investors in Worcester, Middlesex and Essex counties in MA, and Hillsborough and Rockingham counties in NH. The geographic limitation is based on my commute.

As for a personal residence, I've got a realtor for MA, but as there's an equal chance I could end up in NH, I'd love advice on who to work with in the areas identified.

@Account Closed You mention in point 3 of your comment that you could "buy more rental homes using [your] HELOC idea." are you saying that you used the HELOC to build sufficient equity in your home to buy rental properties. I am trying to build sufficient funds to purchase rentals and I am considering the idea of using $10k increments from a HELOC 3-4 times to increase equity in my home to a point where I can refinance to get sufficient cash out for buying a rental. For me the variable rate and loss of tax benefits don't make it worth doing for the life of the mortgage but I wondered what you thought about using it to get started acquiring cash flow rentals in this way. Also, has your position/experience changed in the years since your original comment on this thread?

I'd love to hear what others have to say regarding the pros and cons of this approach.

@Eric Hyde, I've started listening to one of @Scott Carson's pod casts and I was also able to listen to part of a virtual workshop he hosted last weekend.  I appreciate the advice and would love to hear from you.

Thanks for the links and feedback everyone.  These will help me learn more about this area of investing and give me some ideas on how to get started.

Good afternoon,

I'm a new investor in Colorado Springs, CO with very little cash on hand.  I can borrow a very small amount from my 401(k) at 2.25% interest for a down payment or purchase, but given how hot my local market has been that won't get me very far until I can learn some alternative strategies.  I may also be relocating to New England (NH or MA) in about 2 years so I'm not sure acquiring property in my local area is the best strategy.  

I recently heard about buying and selling notes and wondered what resources you've found most useful in studying this topic?  Given my limited amount of funds this may not be the best place to start, but I find the idea intriguing. 

Thanks in advance for any tips.