Leominster Rental Market
Hello BP!
I am looking for some insights on investing in Leominster, MA. My current portfolio mostly consists of duplexes and triplexes in the Greater Boston area. I am looking to get into 6-12 units and I find Leominster ( or Worcester ) generally financially attractive.
I don’t, however, have any experience in that market in terms of rental outlooks, neighborhoods, Vacancies, help, management companies, snow removals etc..
I have looked at many More affordable areas including Lynn, Lowell, City of Worcester - but I find myself somehow pulled towards Leominster. It’s attractive to me because it is big enough but less risky than Worcester- in a big city like Worcester it is essential to know the neighboordhoods- I feel that it’s not as essential to do so in Leominster- Lynn is attractive but it’s getting to be overpriced- the rents do not support the prices- there seems to be a lot of speculators in Lynn- flIppers. I am a buy and hold.
In Lowell it is impossible to currently find a good deal on a 6 unit, one that generates a positive cash flow.
Any recommendations on management companies, plumbers, builders, specific neighborhoods, past experiences( the good and the bad) or even on proving me wrong in my assessment of the area.
Jay