All Forum Posts by: Pablo Ottenwalder Jr.

Im actually in western mass and theres still deals out here that make sense.

Im also interested

Hey I've done a lot of wholesale deals in the Springfield area, I would say 70% of ARV minus repairs and your fee would be a good place to start but depending if it's a flip or buy and hold that number can vary. If you have any questions feel free to reach out.

What city in western mass? At 100k seems like you have multiple exit strategies. 

I agree and that sounds good I just sent you a message.

Hi Chris, I specialize in multi-family in the Springfield area and I also do property management. Rents are steadily increasing, especially through subsidies. Right now a two Bedroom rents for $1200 - three 3 bedroom $1400 - and four bedroom $1600. Cash flow is still good even with 100k per unit price points. I think the most difficult part for investors is getting good tenants. I believe landlords get in trouble because the demand for apartments is so high they don't properly vet the tenant. I did an open house for a 2 bedroom and 50 people showed up. About 70% applied and out of those people just 5 met my criteria. It's a lot of work but there's definitely good tenants out there.  

@Katie Bustos

Hi, I'm an agent/investor and property manager in the springfield area and getting a nice property around 250k will be a challenge. I would say 300-350k would be more realistic and will also allow you to invest in B-C neighborhoods outside of springfield.

Hi @Alicia S. im also from south Florida but now live in western mass and curious to see how STR are doing in the Pittsfield area. I know LTR in Chicopee, West Springfield, and Agawam are good moves.

Thats currently what I'm doing but the BRRRR Strategy is probably your best bet, the issue is finding a property priced low enough where theres still meat on the bone for you to repair and then refinance. I have a client that is having success in the Springfield market but he's purchasing properties that need 80-100k worth of work. Feel free to reach out if you have any questions.