Best town to buy rentals in Southern Massachusetts

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Aaron Montague
Rental Property Investor · Brookline, MA · Member since 2013 · 1k+ posts · 777 votes
5y

@Lars Andersson - If you are set on a SFR I would plan on making it a short term rental. In south central MA I'd find a place near hospitals or colleges. That type of tenant isn't going to get you as much money per week as ski area type turnover is but should get more than 12 month rentals. This is especially true of college kids as you can rent by the room easily. I would recommend looking at multi-family rentals if you are up to changing your mind on the SFR.

@Timothy Wong - Each condo association is different. You'll need to grab that information from someone, realtor, condo association, etc, that can direct to a website or paper copy. There is no requirement that condo association bylaws are posted online that I'm aware of in MA.

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  • Aaron Montague
    Rental Property Investor · Brookline, MA · Member since 2013 · 1k+ posts · 777 votes
    5y

    Hey @Lars Andersson,

    While I assume you mean "South of Boston" but I'm just checking.  Do you mean eastern, central, or western MA?

    I don't see a lot of success with SFH rentals in New England though there are folks doing well in certain parts. My immediate reaction would be to buy a short term rental (STR) on the Cape.

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  • Jonathan BombaciBusiness Member
    Real Estate Agent · Lowell, MA · Member since 2019 · 1k+ posts · 1k+ votes
    5y

    @Lars Andersson I agree with @Aaron Montague there aren't a lot of long term "SFH" investors left in MA. Our property taxes and holding costs are just too high when compared to most of the United States. With the rising home prices most of the SFH investors have sold off all or most of their portfolio, or 1031'd them into larger assets. There are a few guys that come to our monthly meetups that are in the exit stage or have already exited most of their SFH portfolios.

    I have seen some very successful long-term rentals condo portfolios and there are many investors that use condos and SFH as short term rentals. They target high demand areas near major venues like hospitals and arenas or in vacation destinations like anywhere along the coast or in the mountains.

    Best,

    Jon

    [email protected]978-710-8611
    Candor Realty4.760 Reviews
    WebsiteView Page
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  • Lars Andersson
    OP
    Member since 2021 · 13 posts · 4 votes
    5y

    @Aaron Montague thanks Aaron. To be more specific I was thinking about south-central mass (e.g Sharon Mansfield Attleboro Norton etc). Cape is always a good bet but I haven’t looked recently.

    0Reply
  • Lars Andersson
    OP
    Member since 2021 · 13 posts · 4 votes
    5y

    @Jonathan Bombaci thanks for the condo tip. I’ve generally steered clear of condos but might be worth another look

    1Reply
  • Timothy Wong
    Member since 2021 · 6 posts · 5 votes
    5y

    Some condo associations do not allow renting, or has a rule about 50% resident and 50% renting. Are these rules available online or do we need to get them from selling realtors, etc.?

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  • Aaron Montague
    Rental Property Investor · Brookline, MA · Member since 2013 · 1k+ posts · 777 votes
    5y

    @Lars Andersson - If you are set on a SFR I would plan on making it a short term rental. In south central MA I'd find a place near hospitals or colleges. That type of tenant isn't going to get you as much money per week as ski area type turnover is but should get more than 12 month rentals. This is especially true of college kids as you can rent by the room easily. I would recommend looking at multi-family rentals if you are up to changing your mind on the SFR.

    @Timothy Wong - Each condo association is different. You'll need to grab that information from someone, realtor, condo association, etc, that can direct to a website or paper copy. There is no requirement that condo association bylaws are posted online that I'm aware of in MA.

    2Reply
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