Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago on .

User Stats

5
Posts
4
Votes

Thoughts on rental property in Lowell

Posted

Was originally looking to house hack for under 700k in Cambridge/Somerville/Boston/Allston. One week into viewings and math, the school of hard knocks has now provided me a healthy dose of cynicism. Many of these don’t even cashflow when fully rented-out.

Considering the big chunk of change that is even 3%-5% down for houses at Boston prices, I wonder if it may be worth it to buy in a neighboring town (within a 1hour driving radius) where prices are notably lower, put a more traditional amount down (10-20%), and just rent out fully without house hacking.

I pay unusually cheap rent for a lovely apartment in the heart of Cambridge, MA and the more I look around, the more I realize how hard it will be to find that lifestyle and price combination elsewhere. I would not mind, as a first step, continuing paying rent if I have a nice place producing rental income on the side. Then when I’ve saved up more, I can make a bigger move in Boston/Cambridge itself.

A friend mentioned Lowell, MA as a good place for investment properties, and I wanted to see if people here had an inside sense of rentability and the overall vibe there. I work near Lowell and am just getting started doing my own research, online and in person, so I thought I’d see if anyone can offer advice here! Thanks!