Newbie From NYC looking to invest in Western MA

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Newbie From NYC looking to invest in Western MA

Conor MeehanPro Member
Real Estate Agent · Berkshire County MA · Member since 2017 · 25 posts · 5 votes

Hello everyone,

I'm new to BP and have been enjoying learning a ton from the site and podcasts. I'm a full time musician in NYC and am looking to buy a rental property in Berkshire County (Western MA), which is where I'm from and also where I eventually want to settle down. The folks I've reached out to here have been incredibly helpful and I look forward to connecting with others. I'd love to hear from more people who have experience investing in the Western MA region and from other musicians who have experience in REI. Cheers!

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  • Veni F.Pro Member
    BiggerPockets Support · Los Banos, Laguna · Member since 2017 · 320 posts · 99 votes
    9y

    Welcome to the BiggerPockets family @Conor Meehan! I have listed some helpful recommendations for you:

    Meet BiggerPockets member in your area:http://www.biggerpockets.com/meet

    Set up keyword alerts to be notified of the topics that interest you:http://www.biggerpockets.com/alerts

    Read Beginner’s Guide:http://www.biggerpockets.com/real-estate-investing

    Check out BP Podcasts:http://www.biggerpockets.com/renewsblog/category/podcast/

    Find upcoming real estate events: https://www.biggerpockets.com/forums/521-events-and-happenings

    Forum and Blog rules: https://www.biggerpockets.com/rules

    If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person.

    Welcome aboard!!!

    BiggerPockets
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  • Conor MeehanPro Member
    OP
    Real Estate Agent · Berkshire County MA · Member since 2017 · 25 posts · 5 votes
    9y

    Thanks! @Veni F. - great to see these resources in one place

    0Reply
  • Dave VisayaPro Member
    Moderator
    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    9y

    Hello @Conor Meehan, welcome to the site! It's great to have you here. Feel free to ask any questions in the forums. Seeya around!

    BiggerPockets
    0Reply
  • Moshe H.
    Rental Property Investor · Ramapo, NY · Member since 2016 · 243 posts · 108 votes
    9y

    Hi @Conor Meehan I also grew up in Western MA and have recently purchased my first investment property, in North Adams. There is some good energy up there with the growing arts scene and new investments coming in ($65 million for an expansion to Mass MoCA that's just opening). @Robin First has a lot of experience investing up there and she's been helping me out.

    My building (with a partner) is 4 units, three occupied and one just renovated and on the market. It's too soon to know what my real cash on cash returns are going to be but I project them at 15-20% when fully rented.

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  • Juan Reyes
    Jericho, NY · Member since 2016 · 143 posts · 49 votes
    9y

    Hello @Conor Meehan

    Great to see you on here! 

    Welcome to the Bigger Pockets community. Feel free to ask questions and reach out to people. There are a ton of resources on this site, both helpful for new and seasoned investors.

    In my capacity as a Loan Officer and a Pro-Bigger Pockets member, I personally have gotten a chance to meet and help many people around the country with their residential and commercial loans; I am confident you will have the same opportunity to meet new people and network with like minded people.

    For starters, I suggest that you look around for meetups in your area, here is the link https://www.biggerpockets.com/forums/521-events-and-happenings

    Aside from a ton of literature this community also offers a ton of free podcasts that have been extremely helpful and educational. Here is the link to that

    https://www.biggerpockets.com/podcast

    Feel free to reach out if you have any questions or need to be pointed in the right direction. 

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  • Conor MeehanPro Member
    OP
    Real Estate Agent · Berkshire County MA · Member since 2017 · 25 posts · 5 votes
    9y

    Thanks @Dave Visaya @Moshe H. and @Juan Reyes for welcoming me!  I've really been enjoy BP and learning so much from the forums and the podcasts.  Moshe - Congrats on your property in North Adams!  There is a great energy there and a lot of investment coming in w/ MoCA and the Greylock Mill and it seems like a great place to get a solid return and a great community to be a part of.  I've been in touch with @Robin First and she's been helpful.  I'm also looking in Pittsfield, which is going through it's own revitalization with investments in it's downtown and "cultural district."  A lot of 20 and 30 somethings moving back to the area and contributing to this scene.  I'm sure I'll have plenty of questions - Thanks again! 

    1Reply
  • Moshe H.
    Rental Property Investor · Ramapo, NY · Member since 2016 · 243 posts · 108 votes
    9y

    When I was a kid, North Street was considered a "sketchy" place - now there are trendy bars and coffee places. (Just don't go too far north, there seem to be some warzone type areas around there still.) There has definitely been a measure of revitalization. I'm not local anymore but based on a little inquiry it seems like the area bordering South St. on the west is a solid place to invest in multi-family.

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