All Forum Posts by: Samuel Shaw

@Colleen F. Thank you so much. I’ve been following Worcester for a while and I really wish I bought multi family there a few years ago.

The first position mortgage is likely the normal mortgage. Second position may be like a home equity line or a refi. The First Mortgage is likely dated first. I would recommend the book, Bidding to Buy. It's a BP book. I loved it and thought it was extremely helpful. 

Hey everybody,

This is only my first forum post. I've learned a lot in the past year. I did 3 flips in MA, and also got my real estate license. Not a bad time to do either! 

Anyways, I am always trying to look one step ahead. I know the Fed is promising very low interests rates over the next 3 or so years. I know the government does NOT want any sort of depression. 

In MA right now, (I'm aware it is the slow season for the RE market) there is simply not a lot of options for buyers. This is making it a sellers market, especially in the central part of the state where I am located. 

So, with low interest rates, buyers can spend more on a home, and have a lower monthly payment, and the Fed wants to continue inflation.

BUT, unemployment is record high, Consumer debt is higher than 2007/2008, (our countries debt is higher now too so it may not be the best statistic, but either way, it's pretty high). Which says to me, what sort of price increases in housing can people really afford?

On one hand, prices are going up, rates are low, things are great. On the other hand, debt is high and many people are collecting unemployment and stimulus. Have we actually felt the effects of Covid?

I guess my exact questions are: 1) How much higher can prices go in MA? 2) What happens when prices come down? Is is a steep drop in prices? Or is it more of a flattening out? 3) What do you think are the longterm effects of the current market situation?

@Kenneth Garrett

Thanks. All of that makes sense.

I have heard a few different strategies for younger people when they first start investing and I'm curious what people think is best, and their reasoning behind it. I am in my early 20s, have a pretty good paying job and minimal expenses. I'm unsure of how to create a longterm plan for my RE Investing. I just got preapproved and am finally looking to purchase my first property. Some say to focus on long term appreciation and don't worry about cash flow as much (such as the brrrr strategy) Others say to maximize cash flow right now. My plan is to buy and hold as many multi-families in MA and transition into bigger deals over time. I am not trying to get too ahead of myself, but I am trying to have a clear picture of my longterm plan and strategies. I want to increases my net worth and annual income as much as possible. What should I focus on most? To anyone who has more experience and has successfully accomplished this, what worked for you and what would you have done differently? Thanks for all who take the time to reply.

Hello all,

I am in the middle of planning to buy a BRRR property in the coming months. I have listened and read a good amount of BP material, but today I listened to the BRRR Podcast with only Brandan and David. David talks about using cash, hard money, or private money for the INITIAL purchase. I was intending on using a traditional 20% loan for my initial purchase and refinancing through the same bank, or others, whatever is best. Am I missing something? What is the best way for someone who has both options, but would be simpler for me to do a loan?

The REIA sounds pretty cool @Timothy Lewin. And thanks, I'll keep you in mind @Brian J Allen.

Hey Everyone,

My name is Sam Shaw. I am 22 years old and am starting my journey into the real-estate world. I work for a construction company and am saving up to get my first deal. I am located in central Massachusetts between Worcester and Springfield. Looking forward to getting started!