All Forum Posts by: Brian J Allen

Ryan,

Boots on the ground is very important.  If your father is around he can check out the property likely to limited extent.  it is rare to find a place in Worcester at this point under $200k that has not had a fire or something.  As said above, most of these places at this price point will not qualify for conventional loans and you will need to have cash or hard money.  It is a great idea so keep looking.

in solid areas $1100 $1400 is good, in all 3 Decker neighborhoods i would say it would work with $900, $1200,  i was in a place off shrewsbury st 2 days ago which was bare bones, but good location and 3 BR was $1650!!!! and they were getting it

Guys, Make sure you are very familiar with the area you invest in and who lives there.  The tenants will make or break you.  Also, consider the cost of hiring a property manager vs your time going back and forth if you are far away.  Remember things never break when it is convenient and you can't plan for that.  Find out what the real local rents are and what the tenant demographic is.  You need to be comfortable asking for your rent, it is much easier to do so with people who one time hope to buy a home, then from people who are working month to month to pay their cell phone bill then you.

reach out via PM and we can get together to chat

Adrian,

If you plan to manage the units yourself, i would suggest picking a market.  While Leominster and Fitchburg are close to each other and have somewhat similar market characteristics.  Worcester is not like Leominster/Fitchburg.  Worcester has lots of sub markets, colleges, East Side, West side, Shrewsbury street, burncoat/Greendale, and the mid city properties.  Once you pick city you should find someone to help you in that particular market.  I can help you in Worcester, but not in Leominster/fitchburg

I am not investing at this time, but i have in the past.  I have a condo in Tempe AZ, but Currently i am trying to pay for my 2nd and 3rd kids who are about to go to college

James Canoy I only do Worcester County, but i know all the inventory.  sorry i cant help in western ma.  I did do zoning for Pocket Wireless and AT&T wireless and put up multiple towers in the 91 Corridor if you need to know where you will have good cell coverage

was in a C- in a B+ neighborhood today.  needs siding, windows, kitchens baths, heat etc but units were worth the work

@Adam Duffy does location matter to you? Let me know if you want to meet up and discuss locations. We get a bunch of off market deals that come through our office periodically

These things cross my desk every once in a while but you need to be ready to jump.  PM if you are interested