Multi-Family property in Marlborough, MA - personal residence

8 Replies

Hi BP Community!

Happy New Year to all. 

Does anyone successfully own multi -Family Property in Marlborough, Ma? I am new to this town and Looking to buy 3 decker for a personal residence, house hacking tactic. Will there be any advice or reference in order to buy right in this area? I currently own 2 family in Worcester, MA and familiar with buy and hold investments responsibilities. 

Thank you in advance. 

Darina 

hey Darina, I am.actually interested in the Woo! Though I don't know much about Marlborough, I'd love to hear of your experience in the Worcester area. Best of luck to you!

Hello Alex,

I have not been very active in Worcester, Ma, however, it is  a very hot market now and properties go fast. Are you considering to buy there? It is a good rental market. 

Hi Darina,

I've been looking at multi properties in the area for a while now. You are going to have a tough time on the MLS as most things seem to be pretty over priced. Also, as I am sure is the case out in Worcester, you have to watch out for the older properties that still have lead paint / knob and tube. I will let you know if I come across any good agents that have some off market deals.

@Eric B.

Yes... Lead Paint is typically unknown in the older multi's, very important to know  

Knob and Tube as well, - ideally you want circuit breakers 

@Eric B. , thank you very much for your input. I will send letters this week to off market properties. Seems like this is where my biggest opportunity.

I am almost certain it has to be better than Worcester. I nor the individuals I associate with will not touch Worcester because of the outrageous taxes the city has. Good luck Darina

@Ted Strzelecki what areas nearby do you like? I guess it is all perspective. I come from parts of NY where taxes are 27k.

@Ted Strzelecki Thank you very much. Letters sent. I am ok to look into nearby properties as well. 

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