All Forum Posts by: Noel Velez

I found a triplex in Worcester Massachusetts (01609) that I am looking for finance.  I am 1099 so it may be a little harder for me to obtain a loan using conventional financing.   Looking for a private mortgage.  Any help would be deeply appreciated.

Thank you,  

Hello,

Looking for a contractor in Southern Worcester Ma county .  Seeking a contractor who has done recent flips in the last six months, has worked with hard money loans and is investor friendly.  Any referrals would be helpful.

Look forward to it!

I am also.  If you find one please pass the information along.

This deal still available?

I am interested in this deal.  Please send me the info when you get a chance.

Thank you,

Noel

You can definitely find great value with your investment in Southbridge but it is not the easiest to find quality tenants.  I think if you have the patience to weed out all the bad apples it may be worth your while. 

Three family for sale in the Lincoln St area. Solid rental potential. Could easily convert to 3 bedrooms as each unit has a double parlor. $950-$1150 each floor with subsidized housing. Roof is in need of repair and could use some paint or siding. Cosmetics needed on the second and third floor. First floor is occupied to long term tenant. Electrical and heating updated. ARV 240-260. Contact me if interested. Showings will start tomorrow 5/21.

Hello Dan,

First off GO UMASS!! I'm an alumni myself. Do not know much about Providence but I did work in property management and apartment rentals in Worcester for six years.  I have met a good amount of investors in Worcester that have done very well within that market.  The key is being very selective in what areas you buy in.  I would target these areas in no particular order, Burncoat, Westside, Lake ave, Grafton north of Pilgrim, Indian lake, and Highland area close to WPI.  There is a couple B-C areas I would go for but I would not recommend them for a newbie to that area.  Also I recently sold a property that was in the Holy Cross area that did well for me.  If you have the patience to deal with students that is another area to consider.  Feel free in emailing me if you have any other questions about Worcester.  Good luck to you!

Any feedback is appreciated!  I am currently renting a one bedroom in Pacific Beach but my lease is up at the end of April.  My landlord approached me about buying it to save herself the hassle of listing it when the lease expires.  The mortgage, hoa fees, and insurance would come out to about $200 dollars more than I pay now.  Buy it and hope that it appreciates even though there is negative cash flow or find another place to rent and save my capital for a property that produces cash flow?