Worcester WPI nearby rental
Any Worcester mass rental expert here? I’m looking to invest my first multi family in the WPI nearby area mainly student renters.
I need a good property manager / rental agent. Any recommnadation ? And I would also like to pick someone’s brain about rental market there as well.
WPI/Becker is a pretty rough area- used needles in the street and crackheads running around. Worcester’s colleges aren’t like Boston’s. Clark, WPI, Becker, and HC are all in the worst neighborhoods in the city. You might be better off in a small town with a college.
For a PM try DiRoberto.
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@Henry Li
Having gone to wpi (many years ago) and having watched the market there, very little supply in and around wpi where you would want to be and if something does come up expect to pay a very high premium due to the lack of student housing @ wpi and need for off campus housing
@Henry Li the WPI rental market is fantastic, but as @Chris Seveney says it is very small. Rents are running around $700/BR for good stuff. I have clients who will only buy there. Last year i did 4 multis in that area and all were super happy with their purchases, I have one under contract right now as well. There are lots of good property managers in Worcester for that area. Reach out off line if you want recommendations. The best property managers are local people who do it for select clients.
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Quote from @Brian J Allen:
@Henry Li the WPI rental market is fantastic, but as @Chris Seveney says it is very small. Rents are running around $700/BR for good stuff. I have clients who will only buy there. Last year i did 4 multis in that area and all were super happy with their purchases, I have one under contract right now as well. There are lots of good property managers in Worcester for that area. Reach out off line if you want recommendations. The best property managers are local people who do it for select clients.
If you ever have stuff come up, love to get on your list as I am always interested in acquiring property in that area.
Quote from @Henry Li:
Any Worcester mass rental expert here? I’m looking to invest my first multi family in the WPI nearby area mainly student renters.
I need a good property manager / rental agent. Any recommnadation ? And I would also like to pick someone’s brain about rental market there as well.
Hi Henry! That is very exciting! I highly recommend connecting offline with @Brian J Allen , he is extremely knowledgeable in the Worcester multifamily market. I do admire your interest in the student housing niche, I am interested in it myself for my property in north Leominster being very close to FSU. I would love to connect and chat student rentals and share the resources of what I have learned so far. I am still working on the implementation of it but have had conversations with some folks that do it in Mass in addition to a bunch of research. I haven’t come across many very local investors in our markets out here yet that do it very actively. Send me a message! :)
Quote from @Brian J Allen:
@Henry Li the WPI rental market is fantastic, but as @Chris Seveney says it is very small. Rents are running around $700/BR for good stuff. I have clients who will only buy there. Last year i did 4 multis in that area and all were super happy with their purchases, I have one under contract right now as well. There are lots of good property managers in Worcester for that area. Reach out off line if you want recommendations. The best property managers are local people who do it for select clients.
Thank you Brian for the insight. I'm still poking around. not familiar with the area is the biggest fear. Will reach out if needed. thank you man
Quote from @Kyle Curtin:
Quote from @Henry Li:
Any Worcester mass rental expert here? I’m looking to invest my first multi family in the WPI nearby area mainly student renters.
I need a good property manager / rental agent. Any recommnadation ? And I would also like to pick someone’s brain about rental market there as well.
Hi Henry! That is very exciting! I highly recommend connecting offline with @Brian J Allen , he is extremely knowledgeable in the Worcester multifamily market. I do admire your interest in the student housing niche, I am interested in it myself for my property in north Leominster being very close to FSU. I would love to connect and chat student rentals and share the resources of what I have learned so far. I am still working on the implementation of it but have had conversations with some folks that do it in Mass in addition to a bunch of research. I haven’t come across many very local investors in our markets out here yet that do it very actively. Send me a message! :)
Thank you for your insight Kyle. I have been doing boston surrounding areas but price has gone up a lot. Looking at other opportunities , I'll actually take a peak at North Leominster as well.
Quote from @Henry Li:
Quote from @Kyle Curtin:
Quote from @Henry Li:
Any Worcester mass rental expert here? I’m looking to invest my first multi family in the WPI nearby area mainly student renters.
I need a good property manager / rental agent. Any recommnadation ? And I would also like to pick someone’s brain about rental market there as well.
Hi Henry! That is very exciting! I highly recommend connecting offline with @Brian J Allen , he is extremely knowledgeable in the Worcester multifamily market. I do admire your interest in the student housing niche, I am interested in it myself for my property in north Leominster being very close to FSU. I would love to connect and chat student rentals and share the resources of what I have learned so far. I am still working on the implementation of it but have had conversations with some folks that do it in Mass in addition to a bunch of research. I haven’t come across many very local investors in our markets out here yet that do it very actively. Send me a message! :)
Thank you for your insight Kyle. I have been doing boston surrounding areas but price has gone up a lot. Looking at other opportunities , I'll actually take a peak at North Leominster as well.
Good morning Henry! My pleasure!