Western Mass / Holyoke Multi Family Investing

[Michael Evans]

Hey All,

I hope everyone is doing well. I'm a 21 year new investor and I'm looking to start of with multi family properties for cashflow. I currently live in Newton, MA and the prices around here are crazy for multi family homes. Some starting from $800,000 just for a 2 family! Currently my credit score is 750+ and I have around 10,000k I've saved so far for R.E. investing. With that being said I've been looking at areas in western mass like Holyoke & Springfield where multifamily prices are more affordable for me to start small. If possible I'd like to hear about investors experience about investing in these two areas. It would mean a lot to me!

Best,

Mike 

[Andrew Laing]

Micahel Evans I recently picked up a 2 Family in Springfield. I live in Boston area, but had taken a number of trips through Springfield and felt comfortable investing there. Cash flow is great in the area. I'm definitely not counting on appreciation. A lot of properties are deleaded which is huge. Many section 8 tenants (one of my tenants is section 8, great tenant). A lot of 10+ cap rate properties on the MLS. Not familiar with all neighborhoods in Springfield, but you'll definitely want to drive around, check crime maps, etc...

I'm still looking for a good agent that I trust to begin making offers on a few more out there.

Let me know how you progress. If you ever want to meet up out there in Springfield when I'm there, I'd be more than happy to do so.