Wakefield, MA · Member since 2017 · 12 posts · 2 votes
Hey All,
I'm new to real estate investing and I'm wondering if anyone could help me out and give me a rough idea on the average cost per unit in the Boston area. I live in Wakefield and I've been looking for multi-families in towns/cities such as Malden, Medford, Everett, and Lowell.
If you do not have mls access you can browse trulia, redfin, zillow etc to get an understanding of where current prices are.. are you looking commercial or residential?
Wakefield, MA · Member since 2017 · 12 posts · 2 votes
9y
@Steve Bracero Thank you for the quick response. I'm looking at both. I'd prefer around 3-6 units for my first purchase. I don't want to bite off more than I can chew, right off the bat.
I've been living on MLS, as well as Redfin, however I haven't seen any opportunities to generate positive cash flow on any properties I've looked at/analyzed. I wasn't sure if there were any general rules when it came to cost per unit. I've heard from one investor to never pay more than 100k per unit, but that doesn't seem realistic in the cities I've mentioned.