All Forum Posts by: Sam LaGrassa

Thanks @Charlie MacPherson - can you tell me the % increase of 3-plex homes in each of the areas you mentioned.  I bet boston had the highest % increase.  I feel Boston is the most recession proof out of all the areas you mentioned.

@David Cahill and others, would you recommend investing in Condos or triple deckers? I can finance a property of up to $800K (20% down).  I am not into property management so am fearful that a triple decker will require me to spend more time than i'd like managing the tenants/property.

Also, what is the best place to invest around boston? Please rank the following areas for highest predicted home value increase over next 2 years:

Everett

East Boston

Dorchester (which area within Dorchester)

South Boston

Winthrop

Revere

Roxbury

@Aaron Hunt @Charlie MacPherson Boston is booming right now and i believe the numbers Charlie provided.  I also believe the price over the past 3 years would show at least a 30% increase.  Also to further refine what i meant by Boston, I am foucsed on investing in South Boston, East Boston, Everett, Revere and Dorchester as I expect the greatest growth there.  

If I do a cash-out refi on my primary house, what is the most I can pull out.  Do i have to have at least 20% or 25% equity in the home or can I reduce it down to 10%.  If it's 25%, that means I will be able to pull out around 250K in cash and put down 80K on three separate homes valued at about 320K each (25% down).

If i do a HELOC, i will have to pull 80K from my HELOC that i already have approved and will only be able to buy 1 house for 25% down at 320K.

Too many options? What would you do?

Thanks for all the questions/replies. 

I am using the 10% increase based on south boston's growth over the past 3 years. I would be comfortable with a 20% increase over 4 years and will be able to handle the ebbs during a downturn. I am not too concerned about the 10% increase though - the dilemma is really whether to do a HELOC or a cash out refi and what the pros and cons are of each.

Also pls note that my 2.95% expires in 2022 and a 30 yr fixed is currently 4.6%

I am getting my feet wet in the world of real-estate investing. I own a condo in which my wife and I reside. We bought the property for 820K with a 80% 7/1 ARM at 2.95%; 10% HELOC and 10% down. I have since paid off the HELOC. The house on redfin is now 1,090,000 with a remaining mortgage amount of $600K meaning I have about 500K in equity in this property. My wife and I can save about 120K a year. I plan to buy rental property each year on a rinse and repeat process. Please advise what you would recommend and what types of properties to invest in. I am limited to buying in boston and will primarily look for properties will see home value increase by 10% per year. DO you recommend a HELOC to fund my next property or a cash out refi?