BRRRR - Worcester - Springfield MA

[Account Closed]

I own several multi families in Quincy and Fitchburg Massachusetts and investing in real estate for the last 6 years and I've been thinking about investing in Springfield and Worcester, but primarily in Springfield as properties are not there that expensive, but lower rents for sure for cash flow and I feel like it will appreciate overtime as it has happened to all the areas around so far. It is just a matter of time before it goes more expensive than now. I am trying to get a critical and simple opinion from experts that invested in that area? experience with cash flow? appreciation? tenants? Everyone in investing in Worcester now so I don't want to go with crowd is heading instead of locations where there is less "noise", but investing wisely as I've done so far.

Any advice?

[Andrew Freed]

@Account Closed - Honestly not a huge fan of Springfield. What does it have going for it? Employers? Attractions? etc. I personally don't see the long term benefit of owning in Springfield. There is no reason to go there.

Worcester on the other hand has a lot going for it. With the WooSox stadium, all of the biotech, the schools, hospitals. It's also geographically stationed in the center of 5 major cities. And best of all, the large stock of multifamilies. It's easy to find a multi when 30-40% of the stock are just that. 

Lastly, just curious but why not keep investing in the areas you know? Fitchburg provides a decent amount of cash flow and Quincy offers appreciation, which is a nice balanced approach to investing. You also have a network/team in those areas. You'll get access to the best deals where you have the competitive advantage.