$50k in Worcester, MA / western MA, what would you do?

[Nate Mullen]

I recently came into some money and want to put it to good use. I currently have a 3 family and plan to spend some of it fixing up heating system, painting, and remodeling 3 bathrooms. The rest I plan to put into another house. With all the different strategies out there (BRRR, Flip, Buy/hold, etc) I'm wondering with some of you might recommend. For some background, i'm in my mid-30s and looking to grow my portfolio with financial freedom/retirement being my ultimate goal. I live about 20 miles away from Worcester and i'm attracted to that area due to it's high volume of multifamily homes and decent pricing compared to anything closer to Boston. I know $50k doesn't go very far these days, so that's why i'm reaching out this awesome community to see what creative ideas there are out there. I'm thinking maybe hard money to purchase an "ugly" multi family, put my $50k into a "renters quality" rehab, and then rent it out and do a refi. But maybe others have better ideas.
 

[Brian J Allen]

You guys are correct, it is street by street due to geography in worcester.  There are deals to be had, and places you can improve.  The small multi family houses in good locations can throw off good money since they are cheaper to fix and there are lots of tenants who want small, efficient and SUPER CLEAN.  The housing stock is so OLD in worcester that anything NEW gets lots of potential tenants.  But as you know Location, Location, Location.  Lots of action in worcester now.