All Forum Posts by: Martin S.

@Martin S.

2-3 family homes in Springfield MA will cashflow much better than anything out in eastern MA and the cost of entry is much lower BUT you won't see the appreciation you get on the other side of the state. It's a trade off either way!  

Somerville, Malden, and Medford are great areas still very close to the city. Strong rental pool, very attractive to younger people. Expensive yes, would likely need to get creative to cash flow but appreciation would be a game changer. 

@Martin S. - If you're looking for cash flow in Massachusetts, you'll have a better chance of finding it in Western MA. The more West you go from Boston, the higher the cash flow and the lower the appreciation. Personally, I invest in Worcester because I believe it is a nice balance of cash flow and appreciation. You can go more west and find more cash flow, but that comes at the cost of higher property values down the road. Feel free to reach out if you have any further questions. 

Agree with Lien's comments above. You might break even or find some positive cash flow if you're willing to take on a major renovation or if you're only financing a small amount of the purchase price. Mid-term rentals would be another way to increase cash flow. Most neighborhoods in and around Boston have seen steady appreciation. 

Hey Martin, welcome! I am also a Boston investor. I own over 40 properties in Boston proper - South Boston, Charlestown, and Dorchester specifically. Happy to share insights on those neighborhoods and how I find/create great deals. My strategy is buy, improve, rent, and often refinance to pull money back out down the line. Shoot me a note if you'd like to chat more! 

Unfortunately Boston property is not a cash flowing market, all appreciation. You can potentially look at some opportunities in Dorchester, Roxbury, and Mattapan zip codes but they tend to be Section 8 exclusive neighborhoods. On the flip side, Boston in general has very high demand for rentals period and units that are priced well tend to move within 30 day's time for move ins. Let me know if you'd like to connect on further local knowledge. 

These are primo areas and would be tough (not impossible) to cash flow with a decent chunk of change down and some renos as suggested. STR is always an option but of course its a hassle. I'd be thinking more along the lines of Roxbury, Watertown, East Boston or over my way, Somerville! Good luck!

 Hey Martin,

Would love to connect with you on strategy in the Boston market. Investor myself in the area and our family run company has been helping investors in the north shore Boston area for 25+ years. There’s a lot to dissect in the market and I’m totally game to let you in on the market details! Lets connect!

Martin,

A few good places to buy would be Brookline, Newton, Bay Village you can still get in on a good price and know the rents are high for cash flow.  You are going to have a better deal on a "TLC" property versus turn key in terms of sale price.  I would look for something that needs some renovations but avoid anything that is "Subject to" and not pass an appraisal.

Great time to make an offer since it' end of year and sellers are wanting to unload to avoid another year costs and DOM.