Lowell, MA - Rental Market Outlook & Strategy

[Jesse Cote]

Hello lovely Massachusetts residents,

I wanted to get some more information on the Lowell, MA rental market and surrounding areas. I have a friend going to UMass Lowell next spring that I may buy housing for. He could likely fill a home with other track athletes from his team (the boy can fly!).

I’m looking for any info about Lowell that I can get, I would like to understand the area well. I will probably drive around for a day sometime soon.

I’m also looking for anyone working with investors in the Lowell area, feel free to reach out and we can talk real estate!

Until next time,

Jesse

[Jonathan Bombaci]

@Jesse Cote welcome and yes Lowell is an interesting market. Me and my team are headquartered in Lowell and we focus on helping people invest in the area. Househacking is big in Lowell and it sounds like your friend has a good opportunity to pick up a property and rent it out by the room to other students or use the FHA loan to buy a 3-4 unit and live for free.

There are 6 major neighborhoods in Lowell and each of them are distinctly different. Given the strategy you're proposing I'd recommend focusing within 1 mile of the UMASS campus. The majority of students live on the other side of the river but you may find some better priced opportunities towards downtown Lowell. 

We were hosting monthly meetups in Lowell however they have been put on hold due to covid. We have a virtual meetup coming up at the end of September. If you want to attend just PM and i'll send you the link. It is on BiggerPockets under Events but that section of the site is pretty difficult to navigate. Also happy to hop on a call and answer any questions you may have. 

Best, 

Jon