Massachusetts Market, (North Shore)

[Ralph R.]

Hello All,

I'm gathering information about the real estate market on the North Shore, MA. Notably, the Amesbury/Newburyport area. This Market seem to be very competitive and any Investment properties that are priced reasonably go off the market within a few days or even before they get MLS.

I m hopping to find a few BP investors that have experience in the area to give me some insight on what they encountering in this market.

I am currently looking for a Multi Family Property that I can can rehab and Owner Occupy for awhile. 

Any insight on this area would be greatly appreciated.

Thanks

Ralph

[Dan Smith]

@Ralph R.

My Fiancee and I just moved to Haverhill (Bradford area), I can say that it is definitely competitive. We just bought a three family here and I feel that we were pretty lucky with our deal. I found it through the MLS, but I just witnessed a three family on our same street go up for sale and the yard sign came down about a week later. I never even saw it on MLS.

I keep my eyes peeled for other listings, but I feel that it will be a tad difficult to continue to grow my land empire here! (doesn't mean I won't try!). I just ran a quick look while posting this and noticed 18 properties currently listed in the MLS that are multi fams. None of those are in the Bradford area, which to me, is the spot I want to focus on. (Bradford is more desirable and just nicer in general, for what I'm looking for).

We also considered Newburyport/Amesbury and ran into the same problem that you described with sellers wanting wayyy too much for their properties which wouldn't let the numbers work.  I would definitely recommend Haverhill if you can deal with that sort of population as it was the next closest area that I felt had a steady looking investment opportunity.

Good luck with your search and feel free to PM me with any thoughts/questions.  I would love to meet up with other investors in the area to get a pulse on Northwest area in general.