Anyone have experience in Southbridge MA?

Question

Mike Hurney · Answer

@Robert Cook Welcome.

When I began investing I quickly found there were two types of investments in Residential, then a lot of combinations of them.

The first, in my town (higher priced), usually had high appreciation but would almost never cashflow positive unless you put huge money down or paid off the debt service (PI).

The second type (lower priced and a higher percentage of rentals), in a nearby city, cashflowed immediately but would not appreciate as fast as the first.

So cashflow or appreciation? Depends on your current situation and goals.

I just posted Quick Real Estate market analysis: Lynn Boston & Peabody on the blog at our site below, what do you think?

Stacy Gilman · Answer

I currently reside in my primary residence in Southbridge and am also looking to purchase investment property in the town. I've lived there for over a year and from the research I've done one of the big things to consider about Southbridge is the current state of its school system. I am told that is one of the big drivers in Massachusetts and unfortunately Southbridge does not have a reputation as a stellar school system. I am not quite sure why that is but, its a common theme. I have had some limited interaction with their police force due to accidents in front of my house and incidents down the street and I am less than impressed with their level of service. I am a former police officer and set the bar high and I am not at all pleased with them. I think if investors purchased in Southbridge and steadily raise the rents we could drive out the less desirables. I have had a challenge attracting private investors into Southbridge. Best of luck and feel free to contact me any time!

Angel Dejesus · Answer

hello Stacy

I'm investing in Gardner mass do to how saturated the market is in Boston I too think Gardner has its good and bad and I think it's a good thing to get experience. Feel free to communicate with me so we can bounce ideas back and forth.

DONALD KUCZINSKI · Answer

Everything will balance out in the end. If you know the area "isn't super great" in your own words, and you're hesitant to live there yourself, and schools are entering state receivership, and crime is, well . . . , and rents in general run among the cheapest in MA, then consider what kind of tenant families you will most likely be "married to" while owning property there and decide if it's worth the time and money and effort in the first place.  Good Luck! I personally own rentals within 10 miles either side of Southbridge, but have purposely avoided SB for many years.

Anyone have experience in Southbridge MA?

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