Newbie from Massachusetts!

Real Estate Agent · Beverly, MA · Member since 2019 · 358 posts · 308 votes

2y

If cash flow isn’t a huge concern why not looking in Mass? The right areas rent so easily and appreciation is huge here. I invest in MA through house hacking and how I’ve always looked at it is yes I could probably buy a few houses in GA for what I spent, but a 100k house that appreciates 2/3% isn’t going to make you wealthy. There’s a reason no one gives up their rentals here and they just pass them down.

2 Reply

Gina Wilson

OP

Member since 2024 · 7 posts · 4 votes

2y

Thank you. I think the cost of entry in MA is very high right now. Not sure how long MA properties will continue to appreciate over time. I was also looking at Canton and other areas in MA but again, much higher entry point than up-and-coming neighborhoods in TX. Also, Texas is regarded as a landlord-friendly state. The other reason is that I want turn-key properties and not one that requires work as I am very inexperienced and do not want to take on a project. We live in a good neighborhood and don't plan to move right now. Any recommendations on local areas I should look into further?

0 Reply

Michael Vazza

Real Estate Agent · Boston, MA · Member since 2021 · 32 posts · 31 votes

2y

Hi Gina, are there any particular reasons you have as to why you don't want to invest in the MA area? Based upon your post the Greater Boston area and markets even slightly outside definitely seem to fit what you are looking for so just wanted to see if there was something you were considering as a negative factor..

Most often I'd hear people say:

1) High taxes - but this can easily be reduced/eliminated by proper accounting and management. Also, sounds like you plan to hold long term as it is so should be a non-factor.

2) Not as landlord friendly as other states - I agree here but our vacancy is generally so low that you can find the ideal tenants with proper diligence and screening. You also don't have to be rushed in to taking the first application just to fill vacancy if they don't fit criteria you are looking for.

3) High cost of real estate - Yes, but there is a reason for this. High demand and low supply - leading to historical appreciation that has consistently been in the top % of the country.

4) Moving out of state, but doesn't seem to be the case for you, at least any time soon.

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Gina Wilson

OP

Member since 2024 · 7 posts · 4 votes

2y

The math just doesn't work in my favor given that I'm not flipping a property. Either the condo fees are way too high or the location is not ideal and the rent is significantly lower than the mortgage. I'll bleed money. Maybe after I have solid footing in real estate, I may have the capital to invest locally. Right now, the math is not in my favor.

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Alecia LovelessPro Member

Member since 2019 · 3k+ posts · 2k+ votes

2y

@Gina Wilson I rarely post this but I’d look in mid to northern New Hampshire. I would not recommend Berlin/Gorham too many people from down south bought and over renovated thinking they could get high rents. I feel it’s a bad investment now. If you look diligently you can still find something reasonably priced and the rental markets are hot. Appreciation is solid and it’s landlord friendly. It is also close enough to you that you can reasonably drive up to check it once or twice a year.

1 Reply

Gina Wilson

OP

Member since 2024 · 7 posts · 4 votes

2y

Thank you. Are there specific towns you recommend in NH? I was considering NH but mostly looking at Concord, Manchester, and Nashua. I am also open to ME markets but unsure about rental occupancy there and if most people own vs. rent.

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James Wise

Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes

2y

Quote from @Gina Wilson:

Hello,

I am from Massachusetts and don't think it is wise to invest locally for the first investment property. We own the house we live in and it is worth more than 1M. We do not wish to move anytime soon (at least for the next 5+ years). I am looking for long-term investment property with the potential for appreciation over the next 5+ to 10+ years and not necessarily focused on cash flow and retirement. We are typical W2 workers in corporate America (at least for now). Although cash flow is not the primary concern, I do not want to own a vacant house. How can one balance the two? Are there markets where I can have the assurance of rental demand and possible appreciation over a long period? I was looking at duplex/single-family options in San Antonio and Houston. I also considered North Carolina but there is an abundance of new development there making it too competitive. I am new to Real Estate investing. Any pointers on the best places to consider (outside of the northeast)?

Thank you!!!

Gina - From Taxachusetts!

Welcome aboard.

0 Reply

Michael Vazza

Real Estate Agent · Boston, MA · Member since 2021 · 32 posts · 31 votes

2y

Hi Gina, thanks for sharing! Canton is a great town - my brother lives there off of York St. and my family is partners in the Copperworks Development near the center of town. But, wouldn't be a primary market to look at from a strictly investment standpoint. Inventory there is very low and prices are high, driven by the fact its a community where people are buying to own as a primary residence to get into long term. Not many rentals there.

New Hampshire has some phenomenal markets as does a bit more Western Mass if you are looking between Boston towards Worcester. Attleboro is also another potential market you can look into.

0 Reply

Gina Wilson

OP

Member since 2024 · 7 posts · 4 votes

2y

Thanks everyone for your insights. I will look into these markets.

0 Reply

Nadeem Alamgir

Real Estate Agent · Member since 2023 · 831 posts · 577 votes

2y

Hey Gina, if you are looking for appreciation, I would take a look at the Columbus, Ohio. The city is home to many Fortune 500 companie, growing population, and it still remains an affordable housing market, especially compared to Massachusetts. Some pockets still cash flow where I think you can find that balance between the two.

Let me know if you have any questions regarding the columbus market, happy to help!

3 Reply

Jimmy LieuBusiness Member

Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes

2y

Quote from @Gina Wilson:

Hello,

I am from Massachusetts and don't think it is wise to invest locally for the first investment property. We own the house we live in and it is worth more than 1M. We do not wish to move anytime soon (at least for the next 5+ years). I am looking for long-term investment property with the potential for appreciation over the next 5+ to 10+ years and not necessarily focused on cash flow and retirement. We are typical W2 workers in corporate America (at least for now). Although cash flow is not the primary concern, I do not want to own a vacant house. How can one balance the two? Are there markets where I can have the assurance of rental demand and possible appreciation over a long period? I was looking at duplex/single-family options in San Antonio and Houston. I also considered North Carolina but there is an abundance of new development there making it too competitive. I am new to Real Estate investing. Any pointers on the best places to consider (outside of the northeast)?

Thank you!!!

Gina - From Taxachusetts!

Hi Gina, I personally love Columbus Ohio and as someone who works with a lot of out of state investors - there's so many catalysts for why you should invest here. Specifically, there's job growth (Intel, Honda, Amazon, Nationwide, etc) and the population is growing (unlike Cleveland or Cincy). I really see Columbus Ohio as an extremely safe bet for the next 10-20 years. Plus, there's still so many positive cash flowing and 1% deals here in Columbus Ohio. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

[email protected]614-300-7535

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Mackaylee BeachPro Member

Real Estate Agent · Kansas City, MO · Member since 2020 · 1k+ posts · 492 votes

2y

Have you possibly considered the mid-west, Kansas City to be exact? It's rapidly growing and great options for investment and cash flowing properties. Shoot me a message and I'd be happy to further discuss our current market and share available inventory.

[email protected]

0 Reply

Nicholas L.Pro Member

Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes

2y

@Gina Wilson

I'd stay local - MA or NH.

I don't think it's worth buying something random in Texas, being 100% reliant on people you don't know, and breaking even or losing money.

Unfortunately the market in general is just not very forgiving right now - prices are high, rates are high, and investor demand is still strong.

Do you have TIME to put in to whatever you do? Can you spend the next 10 weekends looking at 5-10 properties every weekend?

"Are there markets where I can have the assurance of rental demand and possible appreciation over a long period?"

No =) nothing is guaranteed in RE. It's about what you put in.

0 Reply

Pablo Ottenwalder Jr.

Flipper/Rehabber · Springfield, MA · Member since 2017 · 106 posts · 51 votes

2y

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

0 Reply

Dave Skow

Lender · Seattle, WA · Member since 2014 · 2k+ posts · 899 votes

2y

@Gina Wilson- thanks for the post ...for the 1st rental property - you might consider buying a place you are familair with or have contacts that live near by . Multifamily properties are also a great idea . if you need to use financing - get pre approved with a lender to review all options / ideas

0 Reply

Min ZhangBusiness Member

Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes

2y

Hello Gina, I recommend you to check the midwest, because the entry point is much lower and cash flows the best. As long as you develop your Core 4 like David Green’s mentioned in his long-distance investing strategy (realtor, contractor, property manager, and lender), you should be able to invest anywhere with confidence. I buy in Columbus, Ohio. Columbus has experienced so much growth for the past few years, partly due to the influx of tech giants like Intel ($20 billion), Meta, Amazon, and Google building warehouses and data centers in the area, which has contributed to an increase in property prices and more people moving into the city for job opportunities. I also invest in Cleveland and Dayton. Let me know how I can help!

[email protected]614-412-2912

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Newbie from Massachusetts!

Newbie from Massachusetts!

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