All Forum Posts by: Vinay H.

200k - you can buy a 1-car garage in Cambridge, house not included...

I would look at house hacking - buy a 2 family and rent out one side, live in the other ....

just seeing Netflix, facebook and twitter getting hammered by 10-20% in a single day is proof positive of the bubble being popped, slowly but surely.

only if you want to be laughed at everywhere you go.

No work experience + no credit history + no real estate experience = ha ha ha

Depends on how deep your pockets are - if you are putting down 3%, then you may get burned. If you have 25%+ equity, then you will be fine .... even with a pull back.

Well if somebody is looking to work remotely and live like a king, they might as well go all the way to Reno, across the border. That's an instant 20k pay raise with not having to pay taxes ...

I also vote for leveler that was poured on the subfloor before the final flooring. Question to ask is why so many cracks in foundation and when it was patched.

Bloomberg

About 5,630 newly built apartments will be listed for rent in Manhattan this year, according to data compiled by brokerage Citi Habitats. That’s on top of the 4,270 units that were introduced in 2017.

DURING JUNE, THE AVERAGE RENTAL PRICE IN MANHATTAN INCREASED BY 1.15%, FROM $3,944.35 TO $3,989.64. THE AVERAGE RENTAL PRICE FOR A NON-DOORMAN STUDIO DECREASED BY 0.3%, FROM $2,547 TO $2,541. THE AVERAGE RENTAL PRICE FOR A NON-DOORMAN ONE-BEDROOM INCREASED BY 2.2%, FROM $3,264 TO $3,335. THE AVERAGE RENTAL PRICE FOR A NON-DOORMAN TWO-BEDROOM INCREASED BY 1.4%, FROM $4,194 TO $4,254. THE AVERAGE RENTAL PRICE FOR A DOORMAN STUDIO DECREASED BY 1.5%, FROM $3,132 TO $3,085. THE AVERAGE PRICE FOR A DOORMAN ONE-BEDROOM INCREASED BY 0.9%, FROM $4,253 TO $4,292. THE AVERAGE PRICE FOR A DOORMAN TWO-BEDROOM INCREASED BY 0.7%, FROM $6,024 TO $6,066. DURING JUNE, NON-DOORMAN UNITS REPRESENTED 50.8% OF THE RENTAL MARKET, WHILE DOORMAN UNITS COMPRISED THE REMAINING 49.2%.

YEAR-OVER-YEAR, NON-DOORMAN AND DOORMAN STUDIOS RENTAL PRICE ARE DOWN 0.91% AND 0.40%, RESPECTIVELY. NON-DOORMAN ONE-BEDROOM RENTAL PRICES ARE DOWN 0.21%, WHILE DOORMAN ONE- BEDROOM RENTAL PRICES ARE UP 2.09%. NON-DOORMAN AND DOORMAN TWO-BEDROOM RENTAL PRICES ARE DOWN 0.99% AND 1.28% FROM THIS TIME LAST YEAR. OVERALL, RENTAL PRICES IN MANHATTAN ARE UP 0.11% YEAR-OVER-YEAR. 

Set up a joint account and transfer money to that Account when needed....

it is certainly true that it is better to pay 1k in house payment than 1k in rent. The problem is - these numbers don't work. A payment of 1k (with interest and taxes and insurance) is probably on a 150k loan.

Good luck finding a parking space to buy for that price in boston. Even 1k rent in Boston is only possible with room-mates. THe equation for someone who is actually buying vs renting in Boston is more likely - is it better to pay 4k in mortgage or 3.5 k in rent? And the answer to that question depends. This is not really an investment question - it is a lifestyle question.

With renting you will have no possibility for appreciation. With owning, you have possibility of building equity but the responsibilities of maintenance etc.

For investing purposes, I think Cash Flow and Cash on Cash return are what's important - not what your mortgage costs are vs what you personally pay in rent. You want to look at what you collect in rent and in Boston, mostly your payments will be more than what you can collect in rent.

For purposes of house hacking and learning, I think owning is fine but if you are thinking of owning for 1k mortgage repayment in Boston, then forget even Lynn or Lowell. Probably look to Springfield and western Mass.