North of Boston multi families

[Daniel Stanton]

Looking for a multi family north of Boston. Looking for people's thoughts on purchasing a multi family in this area right now. For a decent duplex it's going to cost upwards of $500k. In 2012 I bought a duplex in Salem, MA for $315k and the rent I take in from that property is just about what I could get from one of these homes going for $500k or more. It's tough for me to spend $200k more on a property that gets the same rent.

[Charlie MacPherson]

@Daniel Stanton Have you considered the south shore and south coast?

Homes are a lot more affordable in some of the town here.  I just helped another BP'er buy a duplex in Plymouth at $289K.  He's renting one side at $1600 and living in the other - it's a house hack.

There are other good target towns here - Plymouth, Brockton, Whitman, Kingston, Pembroke, Halifax, Hanson and further south, Fall River, Taunton and New Bedford.

I have a 6-plex that I listed in the BP marketplace this morning that with a minor rent adjustment can beat the 2% rule.  That's hard to do almost anywhere in eastern MA.

North and west of Boston are more expensive, and of course, Boston and Cambridge are just insane.  I saw a 3-plex in Brighton on the market today at $2.5M.

Let's connect - I'd be happy to help.  I also have a north shore agent who is a buy & hold investor herself.