Posted by Fred on January 28, 2001 at 11:35:16:
Hi Jim,
Where you from. I am originally from Worcester. You are in a great state for doing creative real estate. All the old mill cities and towns have an abundance of old multi family homes as you mention. They can be bought and rehabbed and sold to owner occupants who use the rental payments to help them qualify for a new loan, just as you mentioned. I would look for old, rundown, multis. Good luck
Is it really happening (deals) in Mass. - Posted by Jim
Posted by Jim on January 27, 2001 at 22:19:25:
Hi everyone
It sounds as if there are many many deals out there. In my neck of the woods/pavement single families are selling so fast and at high prices that multi-families are being sold to 1st timers so they can use the rentals as part of their qualifier. And the sellers are getting a good price. I had a mtge co qualify me for 100% financing several months ago but the interest rates are/were so high for the mtge that I couldn’t find any properties that would break even. I’ll keep trying but I really wanted to read about someone who is making it in Mass.
thanks Jim
Jim Rayner has had great success in MA. - Posted by phil fernandez
Posted by phil fernandez on January 28, 2001 at 15:19:49:
Jim Rayner a long time regular of this site has had a great amount of success investing in Mass. He has a great success story on this site. I believe Jim is fromthe Lowell area.