All Forum Posts by: Stephanie Birkhimer

@Joe Impagliazzo 

@Joe Impagliazzo

Ideally we will purchase separately, but we are also planning to ask what kind of financing we could get if we were to do it together. If I could get 200k and he could get 250k, but together we could get 600k, then it would make more sense to team up since multifamily homes are about 400-600k in Massachusetts.

@Max Ockner

I would check out the Ultimate Beginner's Guide under the Learn tab at the top of the BP page. I'm just starting to look for a property now, and I think it does a pretty good job of outlining what you need to do before you can start looking for a specific house.

My boyfriend and I are going to the bank on Saturday to ask about financing options. We are planning to go about this individually because we have drastically different finances (income, debt, other expenses). In general, we're each just trying to find out what our budget would be to purchase a house to rent so that we can start looking for a specific property. Are there any questions that we should be sure to ask, or details we should look out for?

Thanks!

Thanks for all the advice! I'm going to start reading the initial stuff (UBG, Start Here) before doing too much more. Unless I learn something new, I think my next step is going to the bank and finding out what numbers will work for me. Once I have a ballpark price range, I'll try to find the actual property I want. 

Thanks again for all of your input guys, I really appreciate it. My current apartment lease is up in July, so if all goes well I'll have found and purchased the right place by then!

Hi everyone! My name is Stephanie, and I'm a new member and wannabe investor in Malden, Massachusetts (just north of Boston). I just graduated from college and am currently working in Salem, New Hampshire. I started listening to the podcasts at the suggestion of my boyfriend, and they've gotten me really motivated to begin investing. Up until about 3 months ago, I thought buying a house was just for when you were settled down with kids. I now feel that I can use real estate to get the financial freedom to do all the expensive things I want (horseback riding, traveling, etc). However, I'm a total newbie, so I have a lot of learning to do. Right now, I'm looking into buying a multifamily home in the Wilmington/Burlington area, living in one unit, and renting the other unit(s) out. The idea is to gain experience as a home buyer and landlord, and then move on to bigger and better projects. In a couple of years, I'll hopefully be heading somewhere warmer!