Providence, RI Buy and Hold Prospects 2019+

[Stefanos Axios]

what do local investors think about Providence, RI market for Buy and Hold of multifamilies now and for rest of year? Not a local so trying to get info beyond promising numbers I find on zillow.

To consider:

1. Are prices inflated?

2. How has market performed in past during economic downturn?

3. Investment quality compared to Worcester, MA, Lowell, Ma, and other parts of RI?

( don’t expect much on this. Shot in dark)

[Frank Patalano]

@Stefanos

Yes I think the prices are inflated. Not as bad as Boston.

In the last downturn I was buying foreclosures at half the price that they were selling for at the top.

I agree that taxes in Providence are high overall but I just figure that into the costs/price of every deal.

I can't speak to other markets.