Buying my First Multifamily in Boston

[Oye Dosumu]

Hi all,

I moved from Houston to Boston in February and I have been looking at buying a multifamily in Boston since April.. I am finding it very hard to get down a good property because the numbers are not working well enough. Anyone had thoughts on buying multifamily properties in Boston..? any tips will be appreciated. 

Thanks, 

Oye

[Charlie MacPherson]

@Joe A. You're right about the Cape being seasonal, but there are deals there.

Seasonal rentals are, of course, HUGE.  

Landlords look for winter renters from roughly October 1 to May 1.  A winter rental might run $1800/month where that same property might run $1800/week in the peak season (mid-summer) and about $1600/week in the "shoulder" seasons (late spring and early fall).

There are parts of the Cape where there are a lot of year-round residents too.  Think Barnstable and the surrounding areas and the towns closest to the bridges where you'll find a few Boston commuters (may God have mercy on their souls).