Anyone investing in Gardner, MA?

Question

Hello,

I am looking in Gardner, MA for my next investment and seems like there are quite a few cash flowing properties out there.  I don't see many people talking about Gardner, MA... any insights? I know it's a small town but looks like there is still sufficient rental demand.

Thanks!

Dan Milinazzo · Answer

@Rebecca Duyon it's definitely a market that has grown significantly since my post.  I'm actually supporting one of the larger investors in Gardner, MA right now bring 30 new units to market. Demand is growing a bit and I think there is still a little room to go, but as I mentioned before there are a handful of big players in the market and they have a good handle on the deal flow.  Still a great market for owner occ/house hack, but again it's not a high income area so rental rate is going to top out a bit in my opinion.  Entry point for multis is still on the lower side compared to other markets that have easier access or proximity to strong employment markets.

Rebecca Duyon · Answer

Im interested in your thoughts on Gardner today, and where this market may be headed….

Dan Milinazzo · Answer

It's a fringe territory, but I actively look at Gardner, MA properties and currently have a duplex under rehab out there.  BP is a huge community and Gardner, MA is not a shiny, glitzy investor market.  It's an old market with a lot of history.  It was super hot back in the day as a furniture building capital.  It relied heavily on that industry, so when handcrafted furniture fell out of favor during to mass production people started leaving and it hasn't quite found it's new calling.  Now it's a sleeper community with an affordable entry price point.  Don't be fooled there are fair number of seasoned investors in that market (for proof see my failed 3-4 offers that were beat out), they just dont feel the need to discuss the market online here because it seems like a bit of a tighter network.  DM me and let's connect.