Newbie from Worcester, MA looking to get into rentals

17 Replies

Hi everyone!

I am a newbie to the real estate game, and currently looking to get into rental properties.  My initial goal is a 3 or 4plex, but I am hoping to build my portfolio relatively rapidly.  I am a scientist in Cambridge right now, and I would really like to have more job flexibility so I don't need to commute 4 hours a day!  Current area of interest is Worcester and surrounding areas up to about an hour's drive, although that is flexible for the right property.    I would love to meet more people in real estate, and I plan to attend as many local events as I can. I am also interested in learning more about the wholesaling process, and would love to talk to folks doing that.   I am looking forward to learning as much as I can from the bigger pockets website and from all of you.   Thanks and take care.

Worcester is a great rental market.  Make sure you know what you are buying.  The city like many cities changes street by street as do the quality of the tenants and the rents.  Make sure you do your due diligence and take your time prior to purchasing anything.

Originally posted by @Brian J Allen :

Worcester is a great rental market.  Make sure you know what you are buying.  The city like many cities changes street by street as do the quality of the tenants and the rents.  Make sure you do your due diligence and take your time prior to purchasing anything.

 Hi Brian,

Nice to meet you and thanks for the tip.  I am pretty familiar with the city currently, but I have been driving the streets and going to a lot of open houses to get an even better sense of neighborhoods and the general atmosphere in certain sections.  There are some areas that are a definite no-go for me, but there seem to be quite a few nice opportunities out there too.  Do you own any properties in Worcester?

Hello Lisa, - I am new to the real estate game too. I am in the New England area and really I am looking forward to learning as much as possible as well. If you know of any local events I hope you update us on which ones are good or not. Good luck to you and your journey. My goal is to have a multi- family with in 90 days (technically 89 now), so I hope we can motivate each other to accomplish this! 

i dont currently own anything but i have seen over 300 multis this year for my clients.  if you are out at open houses you will see me.  i am hosting one, and will go to another 4,  probably go to 5 tomorrow as well.  if it is on the market i have likely been in it.  it is good to drive the streets, but even better to walk them.  the neighborhoods with a lot of multis vary a lot by street

Hi Lisa!  I'm' new to the board as well and looking for property in Worcester I wonder if there are any meetups out that way?

@Brian J Allen It seems like you really have you finger on the pulse over there.  I saw a couple that looked like they were in nice areas.  Any chance you could tell us anything about these ones?

MLS:

72369724

MLS:

72381188

MLS:

72406526

Also,  have you ever thought about doing a group get together, maybe showing forum members what to look for in the houses themselves built in that area? It seems like a lot of the houses have the same type of design and probably share a lot of the same attributes?

Thanks!

Edgeworth is interesting, i only saw one floor and the basement.  it is built into a hill so it has some issues, with water that will be very difficult to solve

I liked 47 Arlington, but it is overpriced, might be worth having with the lot next door.  parking is tough there so not having any driveway is a negative, but it all depends what you are looking for

going to Mattson today i have high hopes for it

i would be glad to have a group of folks come by for a presentation at our office message if you are interested, if i get a couple of people i will post something.  

Originally posted by @Eric Butler :

Hi Lisa!  I'm' new to the board as well and looking for property in Worcester I wonder if there are any meetups out that way?

@Brian J Allen It seems like you really have you finger on the pulse over there.  I saw a couple that looked like they were in nice areas.  Any chance you could tell us anything about these ones?

MLS:

72369724

MLS:

72381188

MLS:

72406526

Also,  have you ever thought about doing a group get together, maybe showing forum members what to look for in the houses themselves built in that area? It seems like a lot of the houses have the same type of design and probably share a lot of the same attributes?

Thanks!

I would definitely be interested in that.  Please keep me posted.  Black Diamond has a meetup that alternates Worcester and Waltham each month.  I have been to the Worcester meeting and I thought it was great.  Definitely check them out!

i was just out with another agent who specializes in multis and 3 sets of buyers today for a tour of worcester.  That is fun as well!  just put up a bunch of video on FB

@Lisa Kattenhorn I recoil in horror just thinking about your commute from Worcester to Cambridge!

One thing to think about - see if you can find a workshop on MA landlord/tenant laws.  I think Mass Housing offers one.

As you might already know, the laws here are pretty crazy.

Hi Lisa

Looks like Worcester is becoming a hot market! I am also looking to invest in the 3-4 fam myself. I see great things happening in Worcester and hope that it's not too late to get in!

@Brian J Allen , I have dropped you a few emails before! Definitely has a great idea of the market. I'd love to be part of that presentation if there's enough interest.

@Lisa Kattenhorn ,

Hi Lisa, I'm new myself and am currently aiming to house-hack a 3-4 unit myself in the Worcester area. I wish you the best of luck and hope you find something! Keep us updated on your search.

@Brian J Allen , Nice to see you again, I'd definitely be interested in that presentation as well if you're still thinking about having it!

Thanks everyone!  

@Charlie MacPherson   That is a great suggestion!  I am definitely going to sign up for a seminar.  There is actually one this Saturday in Springfield.

@Brennan Doherty   Great to meet you!  There are lots of nice properties with gorgeous ground floor units available in Worcester.  You can definitely at least live for free, even if you don't make a profit.  

@Phil K.   Great to meet you too.  I agree that Worcester is becoming a hot market - it  makes me wish I got in 5-10 years ago, but there is no time like the present.   

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