With a casino, hotels, shopping, dinning, amusement, etc...I think it is a great long term play.

And this using a 203K FHA loan in the brutal market of Boston, on the east side of the Port Norfolk bay area.Facts & Numbers:2 beds & 2 baths on each of the 3 unitsPurchased for $655K @ 5% down-payment and a generous dose of 203K closing feesTaken a 30K cushion for the 203K streamlined rehabLocked in 4.25% @ 30 year interest rateAppraised at 750KThe numbers are certainly not the exquisite definition of what a ground-breaking deal stands for, but they certainly fare decently well in this seller's market where cash investors rule, the inventory is constantly challenged and most properties are getting sold for over asking price, taking advantage of the current interest rates, the Everett Casino construction, and a few other speculative but pragmatic plays.Just like most everyone else that was not raised or surrounded by real estate professionals from a young age, this deal was pretty much riddled with small mistakes here and there, from neglecting the fire department smoke and carbon detector regulations, being over-optimistic on the underwriting guidelines, underestimating the cost opportunity due to all sorts of processing delays, and you name it.Currently free from tenants, the expectation is to add value by rehabilitating the under-developed basement, adding 2nd and 3rd floor balcony decks, and a variety of practical and aesthetic fixes.

After some research, I realized I could get a job at a number of casinos in Florida, where property can be had for much cheaper than here, while rents can still make them cash flow.

Fiat Crysler just announced a 2.5 billion dollar Jeep plant on the east side of Detroit (18.May.19).Greektown casino was bought for 1 billion dollars today by investors seeing the potential (23.May.19).Investors who bought in downtown Detroit in 2014 have already seen their pockets bulge 3-4 times.The believers argue that the cascades are now on to the Detroit suburbs and it's metro.And there is REAL opportunity for those seeking High Yields and Cap Growth. 

Even at a time when numerous people had lost their savings, when all of the casinos were at the edge of bankruptcy, many people were fleeing the area, and before any announcements of Tesla and the other large employment drivers, we've seen less than 1% vacancy on our rentals and have had 30+ inquiries every time we put a unit on the market out here. 

Remember when Revel Casino sold for 83 million even though it cost 2.4 Billion to build?

I lived in Everett for four years so I am familiar with the area, I think you'll really love its access to the city, the casino, and fermentation districts!

I’m a bartender to the ultra wealthy now which is easy, reliable income, but I remember working at a casino where I had to choose between the high-roller who’d pay me 100 bucks for a lucky beer or the tweaker lady who’d order a blended mudslide with 5 free cherries and tip me in pocket lint.

The market has become too much of a casino for my liking.

A bad bet is like most casino games.