It doesn't seem like there is a ton of discussion on this market recently so I wanted to get a discussion going on what city's/towns investors are having success finding buy and hold deals that are flowing cash in the North Shore and NH seacoast. I know this market is very competive and deals seem to be few and far between but I'm sure success is still being had in some areas.
Hey @Ralph R.
I wrote a post asking something similar a few months ago, check it out:
Based on the feedback I’ve gotten from people, it sounds like within 128, most people are looking into areas such as Salem, Malden, Everett, Or Beverly areas.
Feedback I’ve gotten north of 128 include areas such as Lowell and Haverhill.
Looking westward I’ve started to look more into Worcester since I’ve heard great success stories in this area.
I’ve seen quite a bit posted by @Charlie MacPhearson describing the great deals in south shore.
I’m currently in Andover so given I’m trying to stay north to remain closer to work, I am trying to look at Haverhill, Lowell, and Worcester.
@Daniel Ortiz thank you for your reply. Your post was exactly what I was looking for thank you. I will start looking in in some of your suggested areas. Have you had any success finding deals in the areas you listed.
@Ralph R. I closed on a 4-unit in Haverhill in August!
Once I move out (house-hacking) I will be cash flowing nicely!
PM with questions
Hey @Ralph R.
My goal is to purchase my first investment in 2018. Looking to house hack a multi family. I’ve met @Dan Smith and @Steve DellaPelle who invested in the Haverhill/Bradford area, but all other cities were just suggestions from others. I plan on doing a deeper dive into these areas to see what deals might be out there, but currently it seems like Lowell, Haverhill, and Worcester are more within my affordable price range. Feel free to message me if you’d like to meet up for coffee, Newburyport is one of my favorite spots to visit!
@Daniel Ortiz & @Steve DellaPelle . Thank you both for your responses. Haverhill is right down the road for me and I have always been interested as the city seems be investing in there downtown water front area. The restaurant still are good, public transportation and I bought a home in West Newbury about 2 years ago. It s a great town and I love it for my own home but investing in this town and Newburyport is difficult due to the high prices. I would like to branch out with investiments and Haverhill would be perfect.
@Daniel Ortiz you got a good stratagy.If I could do it all again I would do own occupy multi family. I really think that is the best way to go as you get great financing And low down payment options. I think it opens up a lot of doors for future investments.
It sounds like you have your target areas down which is great, do you have your financing lined up?
@Steve Bracero Yes, I do have a have a broker that I work with that is very good. But I am always open for other creative forms of financing without putting so much money down.
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