All Forum Posts by: Lauren Brown

Hi @Gina S. we do not use property management at this point in time. We have two in the "nicer" area of Fitchburg so we can attract slightly better tenants but we also get a lot of less desireable trying to get out of the bad sections. You have to do your due diligence and thoroughly screen. We have gone years with no turn over and no tenant issues and then there are times where we just didn't make a great choice because a unit was vacant for too long and then your paying for it with complaints. You can make good money in Fitchburg but you are in a lower income area so you have to be prepared for that. Also, if you have a good location and really nice units you will be able to attract better tenants to the area. It's getting hard for us to manage them on our own now because we have two small kids and live about an hour away. We may be looking into a management company soon. Good luck! Laure

I own 2 multis in fitchburg.  did you ever close on one?

I have two multi families in fitchburg, a 4 and a 3 family that we have owned for over 10 years.  The reason we bought out there was we were young (early 20s) and wanted to invest and it was really the only place we could make money.  Even today, we still are looking in fitchburg because the prices are so low and the rents arent too bad.  you get almost the same rents in Fitchburg as you do in haverhill.  But we are in a good neighborhood.  West fitchburg is a nicer area, stay away from downtown.  you really need to drive around the neighborhoods and even in the good neighborhoods you need to have nice units to get higher rent and better tenants.  You need to do a thorough screening of your tenants.  You can get a lot of return on your investment out there and we have easily been able to ride out the market ups and down.  run your numbers and be realistic.  dont make the numbers work because you like the property or want it to work.  Currently we have 3 bedrooms renting between $850-925 depending on the size/condition.  the multis in the better neighborhoods move quickly right now.  we lost 2 houses we put offers in on.

Hi Everyone,

this is my first time posting but i am so furious right now i just had to!  I have a new tenant who signed a lease for July 1st but about a week before the move in date I got a message that her grandfather was dying and she needed to go to be with him and wouldnt be back until July 8th.  I said that was fine, we could collect the remaining money owed (only collected $500 deposit at this point in time) on July 9th when they were back give them keys etc.  Then a few days before the 8th she said that her grandfather had just passed and they wouldnt be home until even later in the month and her current landlord was allowing them to stay through July if I would also allow it.  I explained how the lease (which she signed) worked and that they were violating it but I was being kind and said ok to start of august.  now it is a week before move in and they are now going to move to another state to be with her family and they want their deposit back to move...WHAT?!?!  you want your deposit back?  how about the $3-4k i am now going to be out in rent due to vacancy??!!!  I am so angry!  what can i do at this point?  they havent even moved in! i told her it was not acceptable and the best I can do is to try to find another tenant as quickly as possible but she has to pay rent until i find one (per the lease agreement) and she said they do not have the money because her husband cant work (he sprained his ankle and she sent me pictures to prove it...weird) she said you cant expect blood from a stone.  i would love to hear feedback from all of you.  is this something that is worth legal fees and is there way we could get our money?  we are in massachusetts.  Rent is $950/mo and the lease was initially for July 1 and i agreed (although only through text message) to let it start august first.  now I probably wont be able to find a tenant till mid september/october.