All Forum Posts by: Brian J Allen

I agree with Mike, Worcester will allow you to get the CAP rate you want at a lower price point. There is a huge inventory of "3 Deckers" in Worcester that trade at around $300k. The most important thing about Worcester is to know the market and use a local realtor. An agent from Boston may be able to analyze the property and the financing, but you need to know the neighborhoods in Worcester and who the tenants are going to be and the benefits and detriments of where you buy. I have been in over 300 Multis in Worcester in 2018 and have walked most of the neighborhoods so i have an understanding street by street what you are getting into. Let me know if there is anything i can help you with. @worcestermulti

Make sure to check with your advisors as to if you can put the properties into the LLC after purchase. Often those protections of the LLC do not transfer if you buy personally then put the property into the LLC after.

I had a similar issue about 20 years ago and when I went to my Attorney, he simply said, "you should be glad they moved out" .  The implication is that they could have stayed (in MA the tenants have lots of rights) and simply not paid rent and trashed the place.  Be happy they are gone and you can move forward.