All Forum Posts by: Brian J Allen

If you are interested in Worcester I can help. Worcester is an interesting market as there are so many distinct neighborhoods and types of tenants. People talk about 1% or CAP rates, but as Russell says above, Yield is a measure of risk. Street by street the risk in Worcester changes. The key is to get the balance that you are looking for. You can get the yields in Worcester, and you can get low risk, and you can get a balance, the key is finding what is right for you.

6% CAP on good stuff, all depends on what you use for expenses

there are more opportunities in 2 Families as most of the money is chasing 3-4 families,  if you can go 5 family you get opportunities as well

most important thing to do is find people who can help you locally, if that is in Lawrence or Brockton or Worcester as the locals know the scene and have been through it and can help you make more timely decisions.  

If you want to look in Worcester I would be glad to help.  if you plan to self manage, the closer you are the better.  There are places in all areas you can self manage, and places close to home where you need to get a property manager.  make sure you are familiar with the areas, in Worcester it changes street to street!

@Ryan O'Leary Worcester is a great central location hopefully we can make something work for you

i figured as much, feel free to private message me if you want to go see it.  i reached out to the agent yesterday and didnt hear back which is odd, i can try again

the stadium will have an effect, but the key is the stability of the condo complex you are looking at.    for a I BR in that area you should be able to get about $1k a month,  so $330 mo in condo fees, $60 a month in taxes, $60 a month in Water and sewer + some $ for insurance.  i would be glad to meet with you and discuss this or other options

Ryan,

I would love to chat with you about the specifics.

Condos in Worcester vary greatly in how they are managed and the rents you can get.

Let me know if you would like to discuss things further.  i am in worcester almost every day working with things like this.

Brian

I would be glad to meet up and show you around Worcester.  The key is to know what is out there and be ready when your financing is ready

https://www.kotseas.com/

local and easy to deal with