Buy and Hold in Providence RI or Worcester, MA

[Tarcizio Goncalves]

Hi everyone,

I am pre-approved to buy my first investment property. My wife and I are looking for either a 3 or 4 multi family unit. Because we are having a hard time finding a deal near Boston (where we live) we are looking outside of our area to find deals. We have narrowed down our search areas to either Worcester, MA or Providence RI. Both locations are within 1 hour drive from us. We are even contemplating moving to the area where we invest since it’s not that far and the possibility to house hack is good.

What we know from both locations (Please correct us if we are wrong):
We shouldn't count on appreciation
Good chance to cash flow in both places
For the most part, the school system isn’t that great (at least that is what I found through my research)
According to the 2014 census, Both cities had a population growth (Worcester grew more)
The rental market seems to be better in Providence than in Worcester
Propety taxes in RI are higher than Worcester

I was wondering if I could get some advice from the community to help me narrow down where to invest. I’ve been on BiggerPockets for 4 months now gaining knowledge and I am ready to take the jump.

Thank you all in advance for the help and advice.