All Forum Posts by: Thomas Hickey

@Stephen Igbeka

I think a lot of the people recommending SFRs are not from the Boston area. I'm from Wakefield originally and you don't even see a lot of flips anymore, more buy a small cape, do a tear down and build a McMansion. Certainly not the best for the beginner investor IMO. Can anyone say if the SFR strategy has worked for them in this area?

@Ray Hurteau

I will be looking next fall and will be in a similar situation. I bought a 4 with FHA and refinanced to get rid of PMI last year. Does this mean I have what they would consider a conventional? And shouldn't have trouble qualifying.

Also my wife would like to use FHA and put a 4 unit in her name only. You think they'll give her any flack about my investments?

@ Flavio Zanetti 

I agree the numbers do not work very well the closer you get to city. You seem to be lucky to break even the closer you get 

@Christopher Richardson thanks for the reply, sent a message, not sure if it went through 

dan, 

 Thank you for the reply are the tenants that you have market rate or section 8.  Also what part of Haverhill are you in? I don't know the city very well.  Any parts of the city to avoid ?

Tom

hi all, 

Got my start investing closer to boston but limited inventory and increasing prices have me considering north. Looking into buying a 4 unit in any of the following cities. Haverhill, Methuen, lawrence, Lowell. Does anyone have any experience investing these towns? 

-Can you find decent tenants in the downtown areas that tend to have 4+ zoning? 

- other challenges?

j beard, thanks for the info, you'll have to excuse me while I learn the lingo, REI term and carrying the 1st TD mean?