Dear Boston Investors,
I’ve invested in CT for a while, since 2012 to be exact. I’m now ready to move to Boston, Massachusetts. I’m starting from scratch and hope to meet new and experienced investors soon enough.
I’m in the process of transferring my real estate license from CT to MA in order to start analyzing and understanding the new market with a strong set of tools.
I’ve done as much research as I can without access to the MA MLS or being there to analyze the market in person. Looking at a handful of for-sale prices in different markets, I’m still having trouble determining and understanding how to gauge market value.
There are many aspects to market value, like square footage, # of bedrooms and bathroom, quality of building material, parking spaces (if any), types of amenities, quality of the view, and overall supply versus demand. If there are any classes or webinars on this topic, specifically tailored for cities, please feel free to send it over!
I’m in the process of acquiring a pre-qualification letter in order to see what I’m qualified for and at what rate. I have a handful of private lenders who are willing to invest with me in Boston as well.
This is where I ask the BP Community for professional advice.
- Has anyone invested in or around Boston?
- What areas in or around Boston should I consider to invest in?
- What are some key aspects to think about before investing in or around Boston?
- Are there any mentors who are looking to partner up on a deal?
- Should I rent or buy a condo as my first property in the city?
Any and all advice is helpful and very much appreciated. If there are any investor groups within Boston, feel free to send me the information. I’d love to get involved in and be apart of the Boston community.
There are plenty of investors on BP from Boston!
I currently focus in Worcester county myself-
A good place to find meetup groups, is meetup .com, there are local REIA's you can check out-
@Elvis Methoxha Anything close to Boston is pretty expensive. For example, a triple-decker came on the market in Brighton a few weeks ago at $2.5M. Another in Jamaica Plain at $1.5M. I saw a real dump of a triple-decker in ROXBURY (very high crime area) that needed about $150,000 in rehab, sell for over $900K.
In general, south of Boston is more reasonably priced than Boston, north or west.
The towns that are the best values - at least in my opinion are Brockton (west side / zip 02301), Plymouth, Kingston, Pembroke, Marshfield, Middleboro, Taunton, Fall River and New Bedford.
I have been investing in Boston for the past 3 years.
Your question of where to focus in Boston, really depends on your end goal. Are you looking for buy & holds or fix & flip?
I'm personally against condos but that's just my opinion.