How To Get Started Investing In Multi-family Homes In Boston

https://bostonpads.com/blog/real-estate-investing/how-to-get-started-investing-in-multi-family-homes-in-boston/ The Boston real estate market is hot- prices keep rising in 2022, making it intimidating for new investors. However, if you think it’s too complicated, or even impossible, to invest in the city’s thriving multi- family market then think again. In some instances, you may even be able to achieve a lower net monthly payment for a multi-family home in Boston than for a single-family home. Keep in mind, there are a few steps to follow if you want to successfully invest in Boston real estate. 1. First, do the Math Your first step should be to determine how much you can afford to pay. Depending on the loan product, the down payment can be anywhere from 5% to 30%, or more. Typically on an investor loan (non-owner occupied), lenders are looking for at least a 20% down payment. However, if you’re going to occupy a portion of the property, the down payment could significantly change.

Comments

Post a Comment

Popular posts from this blog

Should Your First Boston Real Estate Purchase Be A Multifamily Home?

https://bostonpads.com/blog/real-estate-investing/should-your-first-boston-real-estate-purchase-be-a-multifamily-home/ If you’re a first-time home buyer fortunate enough to have some capital to put down, purchasing a multi-family home in Boston could open all kinds of doors for you! A multifamily property (or multi-dwelling unit) is defined as a residential building with two or more units under one roof or several buildings in one complex. Duplexes, townhouses, apartment complexes, and some types of condominiums are all examples of multifamily properties. The Boston real estate market, overall, continues to be robust- with renters in various multi-dwelling units staying put longer and renewing their leases at higher rates than in the past few years. With a ready down payment and the right mortgage, you can potentially purchase a multifamily property as easily as if you were buying a single-family home. Investing in a multifamily property in Boston can provide you and your family with...
Read more

6 of the Best Brookline Apartments Now on Market

https://bostonpads.com/blog/renters/6-of-the-best-brookline-apartments-now-on-market/ Renters who live in Brookline apartments have access to bars, restaurants, shopping, nature, and culture. The town, which is located next to the city of Boston, has an expansive system of open space and parks that range from historic landscapes to small playgrounds. Brookline is also home to two (2) historic sites included the birthplace of President John F. Kennedy, and the home of Frederick Law Olmsted, who’s considered the father of American landscape architecture. The Larz Anderson Museum, which houses the oldest motorcar collection in the United States, is also located in the town. Brookline apartments go fast since it’s a highly desirable place to live with something for everyone. If you’re interested in residing here now or in the near future, we highly suggest that start your search ASAP. To get you started, here are six (6) of the best Brookline apartments now on the market.
Read more

2023 Mission Hill Sales Market Report

https://bostonpads.com/blog/boston-housing-market/2023-mission-hill-real-estate-sales-market-report/ The real estate market in Mission Hill has started 2023 in a deep chill as property sales decline city-wide. Mission Hill has recorded just 3 residential property transactions over the past 3 months. That ties the lowest 3 month total in the past five years of MLS data. The 30 day median sale price also failed to eclipse $1M for 3 months in a row for the first time since mid 2021. Let’s take a closer look at the trends driving Mission Hill’s real estate market. Total Real Estate Sales in Mission Hill Since November, Mission Hill has recorded just one property sale in each of the last 3 months. Given its small geographical area, total residential sales for Mission Hill real estate typically average around 3-4 per month. Still, just 3 residential sales over a 3 month period is the lowest rolling 3 month total since late 2019. We can make some fair assumptions that that our misguid...
Read more