Newbie here looking for a little feedback on the Route 2 Littleton to Greenfield area. I have been researching some properties and reading and learning as much as possible here on BP and beyond.
Not sure what the market is like in the littleton/Ayer/Shirley & Gardner/Orange/Greenfield areas. Is anyone finding deals or buying out this way or should I concentrate on another area?
I am still learning and have no deals under my belt as of yet so I would need some hand holding on contracts, assignments and referral/finders fees and etc.
Any info would be appreciated.
I'd recommend staying closer to Littleton for Wholesaling.
I'm sure there are people that will buy the farther out on Rt2 you get, but the numbers will start to dwindle exponentially as you get past Fitchburg.
You can probably find people without to much trouble from Littleton out to like Leominster but it will get harder as you go out more. The major issue is all those towns have a lot of cheap inventory. If you want to go buy a sorta crappy REO for like 70% of ARV you can just bid on a number of MLS garbage. To find anything of interest you will probably need to be able to offer it up close to 50% ARV less repairs just to stick out.
In general the farther you get from Boston, unless you hit on a Ritzy town on the North or Shore shores, stuff gets a lot cheaper and less desirable.
A deal in Littleton you will be able to sell to a number of people with no issues, in Leominster the pool is smaller but you will sell it, go to Athol and I would want it to be under $50K if it was a light rehab to even bother even spending 5 minutes to comp it.
Also, the further out you go, the fewer end buyers for rehabbed properties. The fewer end buyers, the fewer rehabbers/investors will be interested. Those are your customers.
In addition, as you get past Fitchburg, it becomes much more difficult to get hard money financing, should you want to use it. I lend out to Fitchburg & Worcester (this is not a solicitation for business) but get calls all the time for lenders further out. I don't even have anyone reputable to refer them to. So if you are looking for financing you should keep that in mind also.
Hi we own a home here in Greenfield. We are in the process of turning it into a rental.
would you please contact me regarding greenfield
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