im in mass also...im in the process of jumping back in...ive bot & sold a couple of 3's and 4's in mass over the last 5 yrs...lucky enough to sell 2 four units about 2 years ago just in time...
anyways, the 50% rule they describe here seems too high for me also...i dont believe you will find any of those type of properties in mass even in dorchester, lawerence or fitchburg...maybe fitchburg or springfield
im under agreement on a 3 decker w/ a cap rate of about 12%...pretty good in my eyes...my cash flow estimates are about $1500 per month...now thats w/ me doing all the work, which i will do...that is with no maintance nor property management...
i would not buy a 3 family unless i could cash at least $1000 per month...
it is a numbers game and common sense...i look for newer roof, newer heating systems, vinyl siding, new windows, parking (thats huge) especially in the tight city areas, and deleaded certs, and decent clean streets in otherwise bad cities (they are still out there)
...i will only do section 8, but you must screen, screen and screen them...i find you get more $$$ w. section 8 tenants, and they will stay forever if you take care of what your supposed to...
