New Bedford or Worcester

3 Replies

I am new to investing and am looking to hit the ground running. I would like to find either a flip or BRRRR property nearby as my first (although I know BP teaches that this may not necessarily be the best strategy) and was looking for input on the Worcester area, as well as the southern MA, a.k.a Taunton, Fall River, New Bedford region. I had been looking at Worcester for a while for longer term MF rentals, but talking to an agent, she recommends looking into southern MA. Not sure if anyone has experience in these regions, but I would love some perspective.

Based on people I know who have lived in the Worcester area, it is a young professionals rental city. Definitely not high end rentals, but it seems the city is making an effort to improve (bringing the AAA Red Sox team in from RI).

I am not familiar at all with NB/FR/Taunton, but the properties definitely bring in lower rent than Worcester. However, looks like there may be flip/BRRRR potential in the region.

Worcester is a hot market now.  If you are able to get something in a good solid commuting area you should do well.  Let me know if you want to meet up in Worcester.

@Aaron Parry I can't comment much on Worcester, except to say that the Worcester hills are at about 1,000 feet in altitude.  There are several storms each year where southeastern MA get rain while the areas north of the Mass Pike and west of 495 get snow.

I drove through the waterfront area in New Bedford recently and it looks like they're really cleaning it up.  I'm not sure I'd bet heavily on it, but it looks like it's going the way of gentrification.

You can compare crime stats with Trulia -  Search on each town.  But whatever you do, don't use them to evaluate property values - they're part of Zillow Group and Zillow's valuations are a joke in the real estate business.

@Brian J Allen hello my friend!

I currently invest in Fall River and New Bedford and am extremely familiar with Worcester as I lived up there for a few years.

The benefits of Worcester as you mentioned are the higher rents and a larger inventory of buildings as well as an existing train station.

Fall River and New Bedford by comparison have a far lower barrier to entry in regards to price even though the rents are lower, the ACTUAL ROI is far higher here in the south coast and the cap rates are still around 10% while Worcester is more like 8% cap.

I hope this helps and if you have any questions in regards to Worcester, Fall River, Taunton and New Bedford feel free to ask anytime!

Cheers to your success!