Investor · Raleigh, NC · Member since 2015 · 13 posts · 3 votes
I am curious if there are any investors in the Worcester area and more specifically any interest in multi family. I am originally from the area and am looking to market in that area as well.
Engineer · Worcester, MA · Member since 2015 · 54 posts · 40 votes
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We've been in the Worcester market since '96 small multies 2s and 3s are pricy right now and some large buyers seem to be dumping cash on them. I made a full price offer on a pocket listing at a 7% CAP rate based on market rents not actual. There were 3 cash offers higher than mine...
Engineer · Worcester, MA · Member since 2015 · 54 posts · 40 votes
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We've been in the Worcester market since '96 small multies 2s and 3s are pricy right now and some large buyers seem to be dumping cash on them. I made a full price offer on a pocket listing at a 7% CAP rate based on market rents not actual. There were 3 cash offers higher than mine...
Investor · Sudbury, MA · Member since 2013 · 12 posts · 8 votes
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I'm another investor in 4-unit family homes in Worcester. Prices seem a little on the high side right now so haven't picked up anything recently, but always looking.
Cambridge, MA · Member since 2015 · 7 posts · 1 vote
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I am new to the Worcester area and am looking to learn more about the area. I am interested in MF. What are the areas to avoid within Worcester and what areas are good? Any insight would be appreciated.
Investor · Upton, MA · Member since 2014 · 39 posts · 16 votes
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Originally posted by @Account Closed:
I am new to the Worcester area and am looking to learn more about the area. I am interested in MF. What are the areas to avoid within Worcester and what areas are good? Any insight would be appreciated.
I've been beating the bushes in Worcester for a while now, but mainly interested in singles. Generally, very enjoyable productive time around UMass Medical, Lake Quinsig, Upper Burncoat & Summit, Tatnuck & West Tatnuck, West Side in general (Flagg, Salisbury, Holden St. area, Assumption College etc.) . You'll want to avoid as much as possible, Main South, Vernon Hill, Grafton Hill, Belmont Hill, and the areas very tight to the public housing complexes. Always check your rental comps on one of the online platforms because you'll find very wide variations within a very short distance.
Flipper/Rehabber · Worcester, MA · Member since 2015 · 22 posts · 14 votes
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I am also looking for single family rehabs in the Southern Worcester County area (i.e. Auburn, Leicester, Rochdale, Sturbridge, Oxford, Charlton). My plan is to flip a few homes to generate the capital to eventually put down on some multi's in the city, with the hope that prices drop a little by then.
I am also looking for single family rehabs in the Southern Worcester County area (i.e. Auburn, Leicester, Rochdale, Sturbridge, Oxford, Charlton). My plan is to flip a few homes to generate the capital to eventually put down on some multi's in the city, with the hope that prices drop a little by then.
Love your area for singles, Nate, except Charlton and Sturbridge becoming quite expensive. My last exploration trip this week did take me to one SFR in Sturbridge as well as a few in the Brookfields. Ended up with an accepted offer in East Brookfield that I have high hopes for. Good Luck!
Cambridge, MA · Member since 2015 · 7 posts · 1 vote
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Great discussion going on. Thanks Donald. I am taking a trip to Worcester early next week to see few places and get some sense of the area. I was typically trying to focus more in and around Clark University (within a 0.75 mile radius) but it seems I need to explore other areas in Worcester.
Investor · Upton, MA · Member since 2014 · 39 posts · 16 votes
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Originally posted by @Account Closed:
Great discussion going on. Thanks Donald. I am taking a trip to Worcester early next week to see few places and get some sense of the area. I was typically trying to focus more in and around Clark University (within a 0.75 mile radius) but it seems I need to explore other areas in Worcester.
Proceed with caution there. You'll see plenty that will seem inexpensive. But do you really want to go that route?
Newbie spending time learning in Worcester/central Mass area. Any advice (groups/events) would be greatly appreciated. Meg S.
Hi Meg, Welcome to BP. All the education you could possibly want is right here. I love the Webster area near you, and Worcester provides plenty of opportunity as well. Call on me if you need any help. Good Luck!
Natick, MA · Member since 2013 · 86 posts · 47 votes
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Im a new Investor considering Worcester as well. Any experts that can provide insight as to where they see the Worcester market heading over the next several years? Some areas seem to provide decent rental income and the prices for multi's still appear low (at least in comparison to other parts of eastern Mass) so it seems like a great time to jump in. Is there a lot of anticipated growth in the city? There are so many good schools in the area so you have to think good jobs should follow but Worcester still seems to be stuck with limited appreciation over the years. Does anyone have a good Investor friendly Agent in Worcester they recommend?