Starting RE Investing in Massachusetts
I am looking to buy my first investment property. I am in MA and the problem I'm having is the prices don't seem to work with many of the metrics. Example: Saw two family in Norwood for over $500,000. Without even doing the math I know that it will be difficult to get the rents to make this work. So my question for MA investors is: is it possible to find deals that cashflow in MA? I'm in central MA and it seems the places that work are Worcester (and Rhode Island). I can afford a +-$300,000 home. But this seems to put me in C+ areas. As a newbie, I'm not sure what type of tenant this will get me and I don't want to get stuck with tenant issues. Any help would be appreciated.
Most Popular Reply
My Advice is that you look in Worcester, that is in my opinion the best place in the state to invest. You can get a decent deal on the property and the rental market is very strong. Just make sure you find the right agent, someone that works with investors(not a retail agent) and someone that successfully invests in that area themselves. No matter where you end up follow that criteria. If you do decide to go with Worcester I can help, if you end up anywhere else I wish you the best of luck.