Help Needed: Areas to Invest in MA
Greetings, I am new to bigger pockets and the real estate realm! It's a pleasure to be apart of the team and I hope we can work together in the future.
I've been researching the Brockton area for a few weeks now in hopes of obtaining a multi-family (triple decker hopefully). I was a little optimistic in the earlier stages of my researcher and assumed that all triple deckers would net me a positive cash flow with a decent cash on cash ROI. This ignorance came from comps In Boston vs Brockton, especially price wise.
After spending some time this weekend running some numbers, accounting for CapEx, maintenance, reserves, and property management, I realized that it was too tough to even cash flow a few hundred a month in Brockton. I'd either have to put down a hefty down payment which I don't want to do since I want to use high leverage and invest as little as possible or I'd have to find some run down property and rehab, which I'm not sure that's what I want to do on my first one.
I was wondering, if anyone is in MA and has purchased (seen/heard of) multi-family properties here in MA, can I get some advice on what areas I should be researching to obtain a fair amount of cash flow after all expenses are accounted for?