Any thoughts on Springfield MA?

Question

I am looking to possibly invest in a duplex in Springfield MA or a multi unit. The price and numbers seem to add up, but some of the areas are depressed.

Has anyone invested in Springfield? If so, what have some of your experiences been so far? Would you recommend it or advise running to the nearest exit? The challenge with Springfield is a lack of public transportion — along with the neighborhoods, but I feel it can be a good entry point for a first-time investor with some connections.

Thanks in advance for any feedback.

Jaysen Medhurst · Answer

@Peter Olejnik, where are you from and why are you considering Springfield? Do you have connections there (i.e. "boots on the ground")? Many parts of Springfield are very rough, D areas at best. Additionally, MA laws are very tenant friendly, so one more thing to consider.

Douglas Laroche · Answer

@Peter Olejnik

I used to live around the Springfield area and it is definitely a rough spot, very crime heavy. They just put in a new casino which could make it easier to find tenants because of all the new jobs but I would definitely be carful of what part of Springfield you invest in. West Springfield has some much nicer neighborhoods.

Good luck!

Peter Olejnik · Answer

@Douglas Laroche Thank you for the tip.

Peter Olejnik · Answer

Great questions! I am from South Boston before the boom and during Whitey's rain, so not too afraid of the rough aspect. Springfield seems like a great value at the moment. However, I am not really sure what the rentals are in the area. I've been told that East Springfield is the better choice than most other areas to get higher rentals, than again ...that's all relative to location too. There are several units near the hospital and Springfield college that have piqued my interest.

Pablo Ottenwalder Jr. · Answer

Hey, I’m a Realtor, Wholeseller, and I also do property management here in Springfield we should connect.

Thomas Guertin · Answer

My opinion is know the Mass laws and cover your butt if this is your first or second property.  I have a few properties in Mass and you can run up big losses if your not careful.  Otherwise, welcome to Mass.

Tom

Any thoughts on Springfield MA?

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