All Forum Posts by: Michael S.

Michael S. , I have a two family rental in Medford and love the area. But, you're right, no deals there on MLS. I bought mine in 2008, so my situation is different. The only way to get deals is by direct mail and finding "motivated sellers" i.e. people who are upside down, just got divorced and need to sell, a death in the family etc. You'll be waiting until the next crash if you're only using MLS. That all said, I get your position as you have a full time job, so do I. I'm not sending out 4-5,000 mailers a month like a lot of others do. I'm also focusing more so on either condo conversions or new construction as that is where money is being made in this market. Finding buy and hold rentals, unless you do your own direct mail and lead generation, probably isn't realistic in today's market in Medford/Boston.

Thanks Neil,

Appreciate the input. Are you actually buying/finding land to build on locally?

Based on my rough calculations and the advancements in home construction - I do agree that the cost of building on land may be much more cost effective that trying to lock down and existing property (overpriced). What avenues are you using to find opportunities There? Permitting a challenge?

0 Votes

Boston, Massachusetts

Hello fellow investors,

I am a new member to this community and have spent the past 8 months soaking in the fantastic advice from the educational material and lurking user posts.

My experience is limited to living in and renovating my east medford home which I subsequently flipped (did much of the renovation myself) and recently upgraded to a larger west medford home.

I have spent a lot of time digging through all of the major online MLS online resources to track down reasonably priced local properties to begin building a rental portfolio. As you may all realize the market is insane in this area - inventory is low - there is no such thing as 50-200k properties as many of the success stories throughout the country have leveraged. Profits if any, even from short sales are limited or non existent.

I'm somewhat discouraged by the limited opportunities in my local area to springboard into RE investing. I have a full time job as an engineer and not sure I have the risk tolerance or time to be investing in far away states where more affordable real-estate (with decent local rents) may still exist.

Happy to hear about more recent success stories from folks who have been able to navigate in this market. What have your approaches been? Even for seasoned investors in this area - given low inventory and growing prices, how have you been able to address these market challenges to continue building income and solid property portfolios.

Regards,

0 Votes

Boston, Massachusetts

All Forum Posts by: Michael S.

Michael S. has started 1 posts and replied 2 times.

Post: Greater Boston and NE investing oppertunities

Post: Greater Boston and NE investing oppertunities