North Adams, vacancies, W. Mass turnaround

2 Replies

I am currently staying in Western Mass. fixing up a family house that we have had in the family 100 years. In my down time I have been looking at the local real estate market, Greenfield, North Adams, etc. 

Looking at the numbers some investments seem good on the surface, what I've noticed though is that there has been a consistent decline in the population of most or all of these cities. I'm curious for people who are invested in these cities what your vacancy rates are, and how do you keep them occupied within reason if it is harder to fill vacant units. Do you see North Adams or similar cities turning around at some point or are they all mini-Detroits? It seems like there is only a potential cash-flow play in these areas if you can get around vacancy and evictions.

In North Adams there seems to be a big push to revitalize the city and make it a cultural center and tourist destination, what are your thoughts on this?

If anyone living in the W. Mass area would like to get lunch some time and fill me in in more detail send me a DM.

Thanks

Originally posted by @Pablo Ottenwalder Jr. :

@Corin Prendiville Im newer to real estate but ive had several appointments in North Adams and ive negotiated deals out there as low as 10-20k but Its hard to find buyers that market feels depressed. Also Greenfield is a much better market at least in my opinion.

 Greenfield does look like a better buy and hold town from the numbers I've run so far, although I think North Adams has some really great long-term potential if the town can transform itself into a tourist destination and grow the liberal arts college - I was thinking I would look into investing into Greenfield and North Adams long term. Still getting my feet under me regarding the market but feeling more comfortable with it as we research the area more.