All Forum Posts by: Account Closed

@Anne Cantwell it's not a scary or dangerous place outside of the highlands haha. I would definitely avoid some areas of the city for investment purposes but even the worst neighborhoods are going to be fine. I would stick to highlands (specifically close to Durfee), Kennedy park and southern end of the city. Avoid pleasent St or "the Flint" even though there are some sick returns down there. Not worth the tenant issues some of my colleagues are having.

I'd be happy to be your boots on the ground for Fall River. Have you considered New Bedford?

Call text anytime 5089333972

@Anne Cantwell I'm a local real estate agent up in Boston and I actually grew up in Fall River. My family and I own many rentals in Fall River. I know the city very well.

Please give me a call at 5089333972 and I'd be happy help

With that particular property I was able to pick it up with all utilities sub metered(which is awesome btw).  The house was being house hacked by an investor that owns multiple homes in this area and he decided to submeter while he was doing the Reno. 

As far as your concerns go with the lien -- there's risk at any point when investing in real estate. you'll hear about them not paying the bill from the city long before they would put the lien on the property. Make sure you vet your tenants extensively and that they make at least 3x your rent per month( I use 4x) and make it absolutely clear in your lease that they are responsible for these bills and that noncompliance  is grounds for eviction. Idk if it's even legal to evict for that but I've literally had zero issues.

See you guys there!

Let me know. I'd definitely come

Same

I use a mixture of rentometer, Zillow and cold calling "for rent" signs for rent comps. Usually that area gets commands 700-1000 depending on number of bedrooms/bathrooms and condition of unit and surroundings.what I do to squeeze out more money is to rent out the garage and storage areas. Also I cover the shared area water and electric with coin op laundry.

I do self manage. I bought pretty much turnkey; I probably overpaid but idc (I shouldnt have major capex for a long time) I'm cash flowing around $150 /door. I know many people who are having problems with some tenants so Screen carefully and you should be okay. My strategy is to rent to people from my church lol. Fall River has many things going for it. The train going to Boston is under construction, Amazon, affordability and the area hasn't yet felt the overall appreciation from the waterfront Reno. It won't be cheap for long I don't think. I'm by no means an expert so YMMV.

My rental is on the western side of Kennedy park. Pretty cheap inventory for the avg rent.

@Lior Rozhansky thank you for the response. In your experience are the prices on open mls sites like zillow accurate for around Boston?