Flipping in Boston suburbs with good school systems

[Jennifer S.]

Hi all,

For the past few weeks I've been researching cash flow properties near Boston and Providence (with the logic that I can't always be on site to do an extended flip or new build). 

Prior to that though I had been researching suburbs of Boston with good school systems, strong median income but somewhat (for Boston) affordable prices. Was thinking these might be good candidates for flips, whether intense ones or more modest cosmetic focused projects. The price increases in the city lately seem faster than in some suburbs. I think at a certain point young families will look at school systems in places like Sharon, Boxborough, Holliston and switch back into that way of living. 

I know there is so much press about the Millennials seeking city living, and I myself grew up in the city very happily and continue to live that way, but I think there may be a mispricing arising. Should the price per square foot be so much cheaper in these places than in the city? 

Does anyone agree? Are there profits in flips in these leafy towns with high rated school systems? If you agree I'd be interested in hearing how I might be able to partner up on flips.

I have learned from the bigger pockets podcasts: find partners if you need a piece of the puzzle. I understand we'd need a long period of getting to know each other and building trust, plus strong partnership agreements. But want to see if the idea has any legs in the first place.

Many thanks!

Jennifer

[Joni Shehu]

Hi Jennifer,

Boston suburbs have incredible demand still & very little supply. Lots of families are looking to move in. As for profits, there’s a lot of profits to be made even with quick rehabs (doesn’t have to be a ground up construction).
We’re rehabbing a property in Medfield, MA now and we’re anticipating record profits (for single family flips).
Feel free to PM if you have specific questions.