All Forum Posts by: Brian J Allen

@Anton Filiptsov. I echo what Klye and Sabrina says.  Our group is finding great deals all the time in Worcester.  You need to find a good agent who does multifamily in the Market that you are looking at, be it Worcester, Marlboro or Framingham.  You need someone who can spend time with you and guide you about the process until you are ready.  We just picked up a 3 family with a full basement yesterday for a client off market in a cool location for a client.  There is stuff out there but you have to work with someone who is seeing 5-10 properties a week in your market and really understands you and what you are looking to accomplish.  Best of luck.

@Chris Wang I realize that you are trying to save the most money here but it is important at the beginning of your investor journey to think long term.  The hardest part of being a property owner, (and that includes your personal residence) is getting tradespeople to show up in a timely manner and give you a fair price.  I feel it is best to try to build those relationships early on.  You can definitely save money by doing things yourself, and by micro managing project.  I suggest you find a solid general contractor and let them run your project for you.  Surprisingly they may even be able to source materials cheaper than you can and you could end up saving money.  The key however, is to think long term and who you will be able to call when you have a larger or more timely a project.  Best of luck with your Condo purchase, and Welcome to Worcester.

Feel free to reach out if you want specific contractors

Luke 16:10. Whoever can be trusted with small things can also be trusted with big things.  Whoever is dishonest in little things will be dishonest in big things too.

I'm sure he is busy but Marc Feldman. 508.867.5082. tell him i say hi and he will text you back

For all on this forum, Keep in mind that as a licensed real estate agent it is not allowed to tell people what neighborhoods are good or bad. It is also illegal to categorize one neighborhood as containing a certain type of people. We are only allowed to point out geographical positives and negatives.  Hills, small lots, lack of parking, traffic choke points if you are trying to get to one location from another, and similar attributes.  That being said, the closer you are to job centers the better your prospects for renting are.  Traffic and hills are the biggest determiners of what a good location is.  Find a local real estate agent and go for a ride for a couple hours and have them show you how traffic works in the city and where the jobs are along with the major bus routes.  Once you see this, you will understand the city.  LOCAL is the key.

I wanted to give a public thank you and a shout out to 

AMEN

 Jared,

PM me, there are a lot of different levels and aspects of property management in Worcester.  There are people who charge a percentage, people who charge by the door.  Full Service, Full service-lite, lite service and there are prices for all of them.  My clients bought about 40 small multis last year and I think they are using 6 different property management services for various reasons.  It is great that you are looking for suggestions.  Sadly it is not a simple answer.

Brian- WorcesterMulti

I am a Realtor and Multifamily specialist in Worcester, MA.  I am looking to buy a place so I can visit family in the area. I need an investment minded agent, who knows the area well, and can work with me remotely.  I will come down a couple times a year to stay and would like to be able to rent the place out.  Not sure if I should have a condo, house or multifamily.  Open to all so I need an agent who can navigate this for me.

Anyone know someone like this who works that area?

THANK your attorney for going with the U&O instead of a lease.  This way if something breaks it is on them to fix and they have no tenant rights!

Essentially they will pay if they occupy and not pay if they don't.  Welcome to Worcester.  Give me a shout if I can help locally in any way.

Brian

Ironically I sold my investment property in Tempe, AZ last year and invested in Worcester, MA which is where I work as an agent.  Worcester made the list here as well and I agree with their assessment.  Prices have started to come down and there are less investors searching.  But as Mark Twain said.  "There are lies, damned lies and statistics".

You need to be a value investor and a House Picker.  Not just hoping that all properties will go up in price.

Here is my BP blog where I go into this further, and access to other items in my blog about Worcester Multifamily housing.

https://www.biggerpockets.com/...