New in Boston

[Dan K.]

I’ve been a long time lurker on the website and have been listening to the Podcast since episode one.

I am an attorney in Boston and looking for buy and hold opportunities within approximately 1 hour of Boston. I am hoping to purchase a multi-family around 200k. I expect to need a management company because of work travel and the distance from my primary home.

I am currently considering a property in Fitchburg and would be curious what people thing about it. I am happy to share the numbers and details.

I manage a 100+ year old family owned multifamily in Cambridge. There are several units and parking spaces. In total there are approximately 15 tenants between the various rentable spaces. The property has needed various repairs, including a new boiler. In addition I have handled regular tenant issues like late rent, property damage, parking issues, etc. 

[Aaron Montague]

@Dan K. 

Welcome to BP!!

I assume you've lived in Boston long enough to not measure distance in time.  1 hour at 5pm only gets you to Waltham going west... :)

Fitchburg seems like a solid town for investment.  200k cash should buy you 4-6 properties out that way.

Nashua, NH is a town that looked great several years ago with the exception of their high property taxes.  Don't hear much about it nowadays.

Fall River might be another place to look.  It would fall squarely in the "C" classification here on BP.