Webster MA rental investment - thoughts ?
I am looking to invest in areas around Worcester in 3 deckers. There are few good opportunities in Webster, Fitchburg but unsure how the rental market is in these towns.
Appreciate if anyone has insights into these towns .
Give me a shout. I do Worcester along with Webster and Northbridge, and have buddies who do Fitchburg and Southbridge.
I'm a little biased since I own 24 units in Worcester but I truly think it has a lot going for it. You can still find properties near the 1% rule. It is also one of the fastest growing cities in New England, which went from a population of 150K to 220K in a matter of 7 years. It also has around 9 schools, 4-5 hospitals, a biotech hub, the new WooSox stadium and 2800 luxury apartments being built in downtown Worcester. Lastly and most importantly, logistically it is located between 5 major metropolitian areas including Nashua, Lowell, Providence, Hartford, and Boston. I like Worcester a lot.
Additionally, @Ian Hogan and I host a local real estate meetup in Worcester every third Wednesday of the month, Worcester Simplifed REI. If you're looking to get into the market, definitely the spot to be. We normally have 50-60 other investors attend. Feel free to DM me if you have any questions about the market or the meetup.
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Real Estate Agent MA (#9576338)
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Just like Andrew, I'm slightly biased towards Worcester too. I bought my first rental property in Worcester, MA few months back. I'm learning the ropes of property management now. When I started looking for properties, I was looking for towns/cities within one hour driving range from Boston. Worcester was a perfect as it meets the 1% rule as well as the diversity it has - students & working professionals. It's the second biggest city in MA and has multiple schools, colleges, hospitals, etc.
The meet up Andrew mentioned above has been really instrumental in my search and helped me building connections. Highly recommend! Feel free to DM me if you have more questions about buying your rental property in Worcester :)