All Forum Posts by: Stephanie N.
Stephanie N. has started 11 posts and replied 37 times.
Post: Seeking 5% Down Conv. 30yr Lender for Dover MF (no income limit)
- Posts 39
- Votes 29
I'm still searching so it will be 2-4 units but I haven't narrowed in yet. But it will be an owner occupy for a year before renting it out.
Post: Off market 3 family in Everett, MA
- Posts 39
- Votes 29
Yes fair point, wholesaling might be tougher for that reason. The seller expects top dollar based on what is currently on the market. I think there could be an opportunity to get the seller down to ~$680K
Post: Seeking 5% Down Conv. 30yr Lender for Dover MF (no income limit)
- Posts 39
- Votes 29
I'm currently speaking to lenders for a Dover, NH 2-4 unit property and wondering if anyone has recommendations that stay on the bank/credit union's books. I can't qualify for a 5% down conventional loan through Freddie Mac/Fannie Mae due to income restrictions in the area. I'd ideally prefer a conventional option vs. FHA to make my offer more competitive. I realize I may need to go the FHA route but wondering if anyone has other recommendations. This would be an owner-occupied loan. Thanks in advance!
Post: Off market 3 family in Everett, MA
- Posts 39
- Votes 29
I found an off market deal in a growing town outside of Boston and was able to go view the property. The property is very narrow and needs a lot of work but has a massive yard compared to the rest of the area and has gorgeous views of Boston on the third floor. Originally I was hoping to purchase this property as a house hack but each unit is only 1 bedroom so I struggle to make the numbers work. If I did a bigger rehab, I could enclose some porches and potentially form a second bedroom in 2 of the units but I'm a bit out of my depths when it comes to this.
In an effort to get creative, I'm wondering if there is a way I could act as a wholesaler to help the seller move on to something new. Or, I also wonder if purchasing it but instead converting it into condos might be a worthwhile avenue. Both of these processes are entirely new to me so I'm wondering what you would do if you were in my position? Would you go one of these routes or would you recommend something entirely different? Thanks in advance for your feedback!
[wholesaling] [condo conversion] [boston] [multifamily]
Post: Dover NH newbie looking to meetup and discuss strategies
- Posts 39
- Votes 29
Late to the party here but would love to connect with anyone in the Dover/Seacoast area. Hoping to begin my investing journey up there in the next couple months.
Post: Eastern MA Multi Family Search
- Posts 39
- Votes 29
Quote from @Eric Girard:
You really want to concentrate on Worcester. You can buy something that needs work at around $500,000 and less work at around $600,000. I own a 4 family in Worcester myself. You get appreciation and cash flow.
Post: Good Massachusetts CPA for Real Estate Investors?
- Posts 39
- Votes 29
Repeat to some other posts here but I would greatly appreciate any CPA recommendations, in or familiar with, Massachusetts. Thanks in advanced!