Home Buying in 02134>Question Details

Johngreenink, Home Buyer in Allston, MA

Boston / Outside of Boston multifamily homes

Asked by Johngreenink, Allston, MA Mon Jul 20, 2009

Hello - I'm a first time homebuyer - I've expanded my search and would like to look at multifamily homes in and around the Boston area - definitely interested in places that need some fixing up (as long as it's not extensive - i.e., plumbing and heating has to work.) Some towns in particular I'm interested are Everett, Revere, JP, Roxbury, West Roxbury, Dorchester. I have a pre-approval for $220K. I was hoping to speak to an agent that specializes in these areas and this type of housing. Thanks.

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Jeff Chin’s answer
John, looking at multifamily homes are a better option for those that are handy and have a willingness to manage their property with tenants. Even better news for you is that FHA will allow you to purchase a multifamily if it fits into their underwriting criteria. You would be able to purchase a multifamily in a higher price range because they factor in the amount of rent the property gets. These properties only require 3.5% for a down payment, it makes strong financial sense for a first time home buyer. I publish an updated list of these properties in Massachusetts. I can email the list to you.
Web Reference: http://jeffchinloans.com
0 votes Thank Flag Link Wed Feb 17, 2010
i will be more tha happy to assist you in your search. feel free to call or email me and i will answer any questions you might have.
0 votes Thank Flag Link Fri Oct 16, 2009
I don't service that area, but I know Steve Morris is a Realtor and investor who has done just what you are planning. He is a pro and would be a good resource for you. (617) 323-5050 x 238, tell him I sent you. You should shop with the other two who responded as well. Get comfortable with whom you are working and make sure they have the experience and understand your goals. Good luck
0 votes Thank Flag Link Mon Jul 20, 2009
Hi John,
am working as a buyer's agent with clients and am very familiar for the towns of Everett,
Roxbury, Dorchester. Also the city of Boston has a Home Center Housing Fair that will be held
tomorrow Tuesday at 312 Border Str, East Boston, MA from 4-8 pm. It is very useful. If you would like to contact me my number is 781-354-1358.
Yannis Tsitsas, Realtor, CBR
0 votes Thank Flag Link Mon Jul 20, 2009
Hi, John!
Feel free to give us a call anytime. We are exclusive buyer agents which means we specialize in the buy-side of the transaction, helping home buyers identify the best properties for the best prices. We do a lot of business in the areas of Boston you outlned and know plenty about multi-families.

Call anytime: 617-848-5407 extension 706 or email at multifamily@territoryre.com
0 votes Thank Flag Link Mon Jul 20, 2009
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