Is a 2% (or even 1.5%) Rule SMF in Worcester too much to ask for?
My wife and I have been researching and visiting small multi-family properties in the Worcester, MA area. We're finding opportunities in the lower income areas but it seems most, if not all, barely meet the 1% rule... leaving very little wiggle room to reach positive cash flow. Not to mention the majority will require some updating and rehab.
Is that something to be expected in this area or are we not finding the right properties?
We are interested in connecting with multi-family investors in Worcester - coffee is on me. Love to pick your brain about the Worcester market and any advice or suggestions you might have for new investors. Please let me know!