Real Estate Consultant · Dallas, TX · Member since 2017 · 7 posts · 1 vote
Hey BP community,
I may be relocating back to Boston, MA area (born and raised in central mass for 17 years) from Dallas, TX and wanted to speak to an investor minded real estate agent about some options I am considering if I move back. I am familiar with the area, however I generally know surrounding Worcester areas better than surrounding Boston areas. I currently own a rental in the Dallas area. This primarily involves deciding whether to own vs rent based on certain criteria. Also want to get a good temperature check on different areas and what the future looks like for them based on the market today. Brief criteria: <$250k purchase, no preference on condo/townhome, preferably a 10-20 min commute from the prudential area.
Furthermore, if I do end up relocating, would love this to be an intro to network with the BP community in the Boston area!
Auburn, NH · Member since 2016 · 234 posts · 207 votes
6y
@Murtatha Ali reach out to @Jonathan Bombaci he is a very knowledgeable and creative agent/investor. He could help you narrow down your focus areas as there is a wide range of PP and what you get for that money between the Boston, Worcester and Lowell areas
Real Estate Agent · Weymouth, MA · Member since 2016 · 14 posts · 11 votes
6y
Hi @Murtatha Ali, happy to connect any time to talk more about your goals and how I can help. My team has worked with numerous others who are doing the same.
Best advice would be to connect with locals in the market you want to tap into as all real estate is local.
Please don’t hesitate to reach out if I can help in anyway!
Real Estate Agent · Worcester, MA · Member since 2018 · 518 posts · 410 votes
6y
you can buy a multi family in the Worcester area from $300-600k depending on what you want, there are also a lot of houses with in law situations, all depends what you are looking for, but it takes a lot of searching
Investor · Boston, MA · Member since 2019 · 9 posts · 9 votes
6y
@Brian J Allen Hello, sorry to jump in here but I am another Boston based real estate investor looking for a little more cash flow than the immediate area offers. What kind of cash flow ROI numbers have you seen in the Worcester area? Would love to hear your thoughts.
Auburn, NH · Member since 2016 · 234 posts · 207 votes
6y
@Murtatha Ali reach out to @Jonathan Bombaci he is a very knowledgeable and creative agent/investor. He could help you narrow down your focus areas as there is a wide range of PP and what you get for that money between the Boston, Worcester and Lowell areas
Worcester generally looks like run down weird area with college and businesses and many commuters and working people.. I would not want to live there though. It's a popular spot to live for waitresses working in other towns, or middle class people who can afford a house there, but not in Boston. My manager bought a two family house there, and rented it out, said it paid her mortgage, but that was years ago..
Real Estate Agent · Lowell, MA · Member since 2019 · 1k+ posts · 1k+ votes
6y
Hi @Murtatha Ali that budget within 10-20 mins commute of the Prudential area is going to be a tough hurdle but happy to hop on a call and try to figure out options. PM if you want and we can try to find some time to chat.
Rental Property Investor · Boston, MA · Member since 2018 · 34 posts · 20 votes
6y
@Murtatha Ali I just ran your criteria in MLS for Suffolk County - Boston, Revere, Chelsea, and Winthrop. There are 47 matches - 11 studio or 1-bed apartments and 36 park spots. Realistically your budget would have to double to meet your purchase criteria but you can rent a 1-bed within a 10 minute walk of Pru for $2500 no problem. Connect with me if your interested in the rental route. I highly suggested you get on @Brian J Allen e-mail list to get a pulse on the Worcester rental market - that's where the numbers work for investing.