Investment Property Owners in Chelsea, Everett, Revere?

Question

I'm interested in purchasing an investment property in Greater Boston (specifically in Chelsea, Everett, or Revere) and was wondering if anyone owns rental properties/has flipped in those cities?

Would you recommend those areas for a buy and hold (I don't intend on house hacking)? Given the abundance of surrounding towns in Boston, I want the best chance to occupy the units with qualified tenants.

Thanks so much!

Avery Heilbron · Answer

@Devin Casey I currentl househack in Everett and think it's one of the best places to buy in the Boston area at the moment. The mayor is doing a lot to develop the city as well as lots of developments are happening in the city

Lien Vuong · Answer

Hi Dev, I do not own specifically there but focus most of my business in that part of Boston.

These are great markets that have a lot of developments and growth for the future.

I just helped a client buy a home for $270 last year and we are under contract for a $540 resale. Alternatively, I helped a client purchase an off market 3 fam in Everett last year that's experienced 8% appreciation in the 12 months since purchase.

Those are great for buy and hold but they are competitive markets. It's more appreciation oriented purchases rather than cash flow perspective. If you're looking for more cash flow, it would be slightly outside Boston in markets such as Stoughton, Framingham, Salem, Lynn, etc.

James E. · Answer

Hey @Devin Casey - I have a few rentals in Revere and am working on an 8 unit condo development in Chelsea. Happy to chat about my experience in these markets or answer any questions.

Nicolas Scheyder · Answer

Devin,

Those areas are great for buy and hold. Most are "affordable" as far as the returns are concerned. The catch is the money is in the rehab. Definitely a BRRRR situation with so much potential if you have the appropriate capital of course.

Chelsea is in the intermediate stages of overall renovation as a result of overflow from the East Boston boom. Lots of condos being rehabbed and converted and an equal amount of 3-6 families buy and holds. Lots of opportunity, lots of competition.

The Casino in Everett has created a great rental market in the immediate area to house the people who work there. The best ROI to date I have gotten for one of my clients who put the money into to fix a very distressed property.

Revere is a town with an easy commute to the city and Americas oldest 1st recognized public beach so it has a lot going for it in that regard.

Let me know if you want to go into some more detail!

Nicolas Scheyder · Answer

Devin,

Those areas are great for buy and hold. Most are "affordable" as far as the returns are concerned. The catch is the money is in the rehab. Definitely a BRRRR situation with so much potential if you have the appropriate capital of course.

Chelsea is in the intermediate stages of overall renovation as a result of overflow from the East Boston boom. Lots of condos being rehabbed and converted and an equal amount of 3-6 families buy and holds. Lots of opportunity, lots of competition.

The Casino in Everett has created a great rental market in the immediate area to house the people who work there. The best ROI to date I have gotten for one of my clients who put the money into to fix a very distressed property.

Revere is a town with an easy commute to the city and Americas oldest 1st recognized public beach so it has a lot going for it in that regard.

Let me know if you want to go into some more detail!

Investment Property Owners in Chelsea, Everett, Revere?

Investment Property Owners in Chelsea, Everett, Revere?

Investor-friendly agents in Chelsea, MA

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