Property Manager · Fitchburg, MA · Member since 2012 · 148 posts · 201 votes
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $330,000 Cash invested: $66,000
This was a purchase to buy and rent out with future plans to move here and retire. Plans have changed since then, but it is still a buy & hold asset in our protfolio.
@Brian Lucier I may be thinking of doing the same and have looked at a few properties in PSL. Can I ask did you buy in a gated/HOA community? Also, did you have any issues renting or finding a tenant? From my research, most HOAs allow 6-month or 12-month min rentals. Good news as I would want a long-term tenant. I saw many nice communities there, and resales as well as new construction options.
@Account Closed This was a brand new SFH we bought from the builder. Our original plan was to buy and hold, then some day move to Florida from Massachusetts, but our plans have changed now that we have grandchildren. We had one renter for the 10 plus years we have owned the property. We recently decided to sell. We have emptied the property and putting the final touches on it to put it on the market