All Forum Posts by: Rob Gifford

I’m in a somewhat similar position. Busy professional with a satisfying career and young child I want to make sure I’m around for. I recently bought my first duplex. Rather than buying from a turnkey company I used a realtor to scout properties for me and identified a recently renovated property that was partially rented. Found a great property management to completely take care of everything for me. I’d say I’ve spent less than 20 hours searching, purchasing, and onboarding my PM. Owning it has been almost completely passive so far. I am definitely getting a lower rate of return for the property than if I managed it and rehabbed it myself. But I evaluate my investment as an alternative to the stock market (completely passive). It’s slightly more risk and effort so I’m looking for slightly more higher returns. the important thing to think about if you’re going the more hands on approach is what your time is worth both in terms of actual dollar value and opportunity cost of working on your career growth.

Hi Richie - I spent a good part of this year pretty rigorously looking for properties in Providence. As others mentioned, the market is very hot and extremely complicated. To boil it down, as a city, Providence is really divided into the East Side (Brown and RISD) area and the North, West and South Side across the river. The East Side with neighborhoods like College Hill, Hope, Blackstone and Fox Point are great- safe, vibrant and hip. The other neighborhoods have traditionally struggled a lot more economically- the exception is Federal Hill and some of the northern West Side that extends down from Fed Hill. Definitely do a lot of research on the neighborhood before you buy. I was attracted to the low prices on the West and North sides of Providence but you won't get much in rent, you'll be farther from Brown and some of the areas aren't the safest. The East Side could be great if you're OK with less cashflow but want a safer neighborhood with decent appreciation over the long term (Hope is particularly charming) Here's a ranked list of all the neighborhoods on NIche. Let me know if you have any other questions- I ended up buying in Albany, NY for the cashflow, but I did a lot of research on Providence neighborhoods and vendors who I'd be happy to share. 

Hi Stefany, Chris Poole at Poole Counsel is the best. Has helped me sell and purchase my primary residence. He's based out of Framingham.

Hi All, I'm looking to finance my first multi-family (2-3 unit) in the Worcester area. Has anyone had a good experience with a lender there or in Greater Boston / Metro West?