Updated about 8 years ago on . Most recent reply
Opportunities in Massachusetts Market for MultiFamily Investing?
What is your take on Massachusetts?
Does this market present good opportunities for us as Multi Family investors?
Most Popular Reply
@Diogo Marques Yes - BUT...
You must understand landlord-tenant laws in MA. They are wildly tilted in the favor of the tenant.
A "professional tenant" (aka dirtbag who knows how to play the system) can stop paying rent and it will take you the best part of a year to evict. Cash for keys is far more common than it should be.
Certain parts of the eastern half of the state are hyper-hot price wise.
Downtown Boston, Cambridge, Somerville, Brookline, Jamaica Plain, Brighton, South Boston, East Boston are all wild.
Even Roxbury and Dorchester that are still considered by many to be high crime hotspots are seeing prices skyrocket.
Look south to Brockton, Abington, Holbrook, Whitman, Middleboro, Fall River and New Bedford and you may fine 1% and less often, 2% deals. (Gross rents are 1-2% of the purchase price).
Look further west - Worcester and west - and you may find the same.