All Forum Posts by: Brian J Allen

this is what i do.  i put 2 under contract this week, and have 2 offers in process waiting responses from the sellers.  there are good houses out there, the key is finding the right fit between the buyer's needs and what is available.  once the market crests, which it may do at any point, then there wont be many good properties on the market, and we will only be left with the junk which has poor tenants, or is in bad shape and the owners have to sell.  it is a great time to buy as good stuff makes it to the market, but prices are trending down overall

im in stuff everyday, anything that i can get into i will so i stay on top of the market

Worcester has a bunch of distinct quality rental groups.  Colleges, Umass Med, Mass College of Pharmacy, Access to the train to Boston, people who work in worcester, and people who work in Marlboro/hudson who can get there in 15 min from worcester for 2/3 the cost.  1200 sf apartment in worcester is between $1050-1500/month, the same can be $2000 in Marlboro, hudson, framingham.  For $350k you can get a good condition 3 unit building that should make $3600/ month and with improvements to kitchens and baths could get $4300/month.  if your target is people who live work and stay in worcester you can buy a solid 3 decker for $285k and gets $3150 a month,  let me know if you are interested in worcester, i have been in almost 400 buildings in 2018

let me know if i can help, i have seen almost everything on the market

worcester is neighborhood by neighborhood and street by street, i have clients who paid $370k for a 3 decker and get $4300 /mo in rent with lots of choices and others who paid $250k and have $3050 a month all section 8 and may need to upgrade heating systems.  it is all about what you are looking for.  there are 2 families that can make $3600 a month in rent and others that can make $1800 . it is all about location/condition and upside.  also if you have cash to make improvements you can get a much better deal then if you need it move in ready

I work exclusively in worcester and the surrounding towns in Multis.  typically as others have suggested the 3s and 4s do better for investments, but the 2s tend to be in better locations and command much higher rents per floor, they also get you much better tenants as it is easier to divide up parking and yards etc by 2 then by 3 or 4, also repairs, especially electrical are easier on a 2 as you can get to everything from the attic or basement.  to make money on the 2s you can expand the 2nd unit into the attic and get more rent and sometimes rent like a 3,  there were at least 4 in particular i saw this year in worcester that were better investments then the typical 2 families.  it is definitely worth keeping them in your search.  if you want to see worcester let me know. have been  in 390 multis in 2018 

Eric,

would love to help.  not only do you need to know about the streets, you need to know what is planned for the surrounding areas.  let me know if you would like a worcester tour.  

Nick,

i am an agent, live in Sutton and work in Worcester, mostly Multis and flips.  would love to meet up, keeps my mind creative.  there are a lot of options out there in Worcester

i would be glad to help.  I have seen virtually everything that has been for sale in worcester in 2018.  there are some small properties that don't need major work which are easier to deal with.  eg. 4 First St in Sutton.  it is a homepath property for $154,900 so if you are a first time homeowner you can get it ahead of the flippers.  there are plenty of tenants out there who will live at a discount as you improve the property around them.  i will be out previewing properties again today for buyers like yourself

i look at all multi's in worcester, and anything that appears to be bank owned or undervalued that shows on the MLS. often investors want to do the flips but not the leg work, typically if i lead them to a property they will have me work as the buyers agent, and hopefully the listing agent after the flip. but currently anything that is move in ready sells right away so there are lots of buyers who will go by and see the work being done and make an offer