Newbie for MultiFam in MA

5 Replies

Have read all the bigger pockets books and others. Have listened to 100s of podcasts as well. But still cant seem to find a good deal in Worcester County, Middlesex County, or Suffolk County. Is there something I may not understand or am I missing something?

There are so many people chasing multis in Central MA it is hard to find a deal.  Best is to find something that is imperfect that you can correct.  Those opportunites still exist, the difficulty is they are not fully rented and need work.  it is a QUEST, the ones that are done are gone in a flash to cash or 25% down buyers with no inspections

Originally posted by @Brian J Allen :

There are so many people chasing multis in Central MA it is hard to find a deal.  Best is to find something that is imperfect that you can correct.  Those opportunites still exist, the difficulty is they are not fully rented and need work.  it is a QUEST, the ones that are done are gone in a flash to cash or 25% down buyers with no inspections

"There are so many people chasing multis ... it is hard to find a deal. Best is to find something that is imperfect that you can correct." 

Love the quote. You need to focus on what you can correct and what you can not. Location is something that can not be changed. Layout or cosmetics and the existing tenancies are things which normally can be changed with a bit of work.

with a Worcester 3 Decker you can modify the layout, add a BR or a BA but you have to know what can easily be done.  The key is to know how much it is to do a roof, siding, windows, door, replace a bathroom, and know what the rent will be after you are done.   But the most important thing in Worcester is the neighborhoods.  That is why a 3 Decker on Hadwen road in good conditions had multiple offers at over $450k and a 3 Decker in some other locations will not.