Investing in Fall River MA
Hello,
Does anyone own any rental properties in Fall River MA? If so, would you recommend investing there? I've been looking at a few different areas south of Boston that are relatively cheaper like Brockton,Taunton, and Fall River. Out of those three, Fall River seems to be the cheapest area and the price/rent ratios aren't too bad. I'm just curious what parts are good/bad, do you get troublesome tenants more often, etc. If anyone has any experience investing in Fall River, I'd appreciate any insight. Thank you!
Hello Kyle, Tagging along, I've been looking at those areas also.
I’d say class C property. If you manage it properly and choose your tenants wisely you’d be ok. Lots of drugs in the city so either plan on keeping a presence and maybe surveillance cameras or run your numbers so that the building will afford you a good management company.
@Kyle Marsh Hi Kyle. I live in and invest in Fall River. You have come to the right place. The north side of town, 02720 zip code, has more of the better areas in the city. This is also the side of town where the highly anticipated commuter rail station will be located. Yes tenant placement can be more difficult in the south coast however the most recent market rate development projects have proven that “if you build it they will come.” Providing a solid quality product in a good area can attract a higher quality renter, given proper management. Lastly make sure to factor in the 100 year old housing stock capex when running numbers. Feel free to PM me if you have any further questions.
Definitely take Mike up on his offer. Every city has its nicer sections, right? While the North side has some beautifully kept older homes and is less risky, the more attractive properties from a cash flow angle are less likely to be found there. I had a larger residential in 02724 which is closer to the Tiverton, RI line and not the worst part of town, newer building, yet I’d still rate as class C due to the demographics and if it had been my introduction to property management I’m not sure I would still be saying it was the best thing I had done at that time. There’s great opportunity but plan to be thorough with due diligence and carefully analyze your ability of involvement through self-management vs. relying on others for those tasks you rather not be burdened with.
Hi Kyle
Just stumbled on this post from 9 months ago.. I hope you did make the decision to invest because we had some growth here.
I own 4 different properties here in Fall River.
Like many comments here have said — self management and due diligence is key.
I see the area improving and the city has areas that are great locations to live in and raise a family. Mostly 02720 as mentioned.
There are a lots of investments happening and the general feeling amongst many of the citizens is optimistic.
Good luck.
Quote from @James Simoes:
Hi Kyle
Just stumbled on this post from 9 months ago.. I hope you did make the decision to invest because we had some growth here.
I own 4 different properties here in Fall River.
Like many comments here have said — self management and due diligence is key.
I see the area improving and the city has areas that are great locations to live in and raise a family. Mostly 02720 as mentioned.
There are a lots of investments happening and the general feeling amongst many of the citizens is optimistic.
Good luck.
Hey @James Simoes,
Wow, you managed to get 4 properties in the Fall River area back back. That's impressive!