Investor · Fall River, MA · Member since 2014 · 399 posts · 300 votes
This is a question I get asked all the time. If you live in Boston or the greater Boston area you have seen real estate explode on an outrageous level.
There are 2 reason you are interested in Fall River:
1. The prices are very low
2. The cash on cash return is very high
And there are 2 reasons you ask the question:
1. The distance is an hour
2. You've heard about an opiode epidemic
Let me clear up how I look at it below:
1. Return on investment in Fall River is amazing! (I own 40+ units in the city)
2. Opiode issues are generally as easy as evicting the bad tenants ( since drug use is not a protected class)
3. Get a property manager (this should have been number 1)
4. The city is actually a very nice and desirable place to live (I know... I live here)
5. The right real estate agent can hook you up with the right locations and explain all the process (I own a real estate office in the city, yes, shameless plug)
I would love to hear some of the other major questions and concerns.
Let me know why you are interested in Fall River. What's holding you back?
Great post. Quickly 2 reasons I didn’t invest and wanted too at the time. Looking for bigger deals and close to the shores without breaking the bank. Hard working people in this areas. Now the bad everyone of the homes i went in needed extensive repaires and the mere thought of moving out an older generation didn’t sit well, plus the opioid problem but most of the tenants are in manufacturing factories. But the kicker that cemented my decision was there wasn’t any optimism from the commercial lenders and that killed my spirit. The rail way that was never built the manufacturing jobs that disappearing. All this was said believe it or not by the banks COMMERCIAL LENDER. I was so disappointed in the few banks that weren’t hopefull. Than the real estate agent i was in fell into the same trap of not being optimistic either. But love traveling and eating close to the shores out there.
Angel Dejesus I definitely agree that now is a great time to get a foothold in the city.
It sounds like you need some better lenders, lol.
All of the local lenders that I work with are extremely optimistic about the cities growth and improvements right now.
If you are serious about investing in Fall River and getting some great return on investment, send me a private message.
I can get you hooked up with some of the best local residential and commercial lenders in the area!
Cheers to our success!!
Thanks and your right about the lenders. I only primarily deal with Lowellfive bank and they don’t do business in Fall River. So my lenders were limited. Plus my other mistake ( Im sure hes not on BP) the agent i used wasn't an investor. But if i find something worth while ill PM you for sure..