Is there anyone from Massachusetts and what is your thought on the softening market?
I’m not sure where in Mass you are, but my fiancee and I just moved from Boston to CT last year leaving most of our family behind (though we’re just 90 miles away). The Boston area is not softening very much as of last summer, but I suspect it has slowed a bit. It’s still too pricey for me – though the Mattapan area may be shooting up very soon.
Thanks for the reply, I’m a newbie here just taking all this in. I’m from S.E. Mass.
The market has slowed down a bit. I’m a Realtor just getting back into the business & miss the multy offers.
I’m looking to start some long term investments to hold onto untill retirement & also land development.
Any advise for a newbie?
Not being too familiar with SE Mass though I have family who live in Dartmouth/New Bedford area, I would say find the niche for the area. If long-term is what you’re interested in, the best way to start in my humble opinion is through buying multis and renting them. Especially in Mass where many rent because it’s so difficult to own (and many college students!). With that said, Mass is tough state to landlord in which makes having an effective and efficient lawyer mandatory. I’ve been fortunate because my grilfriend is about to finish law school and has been very helpful.
I’m not sure how land development would work in SE Mass - all I know is it doen’t work at all in the Boston area and north.
Nice meeting you and good luck with everything…
I’m originally from Western Mass but haven’t lived there in 25+ years (still have family there, though)…
Massachusetts like most of their “blue” sister states will continue to have terrible cashflow. The purchase prices are too high, the taxes are too high, and the insurance is too high while the rents just haven’t kept pace. This is not to mention (as riboflav alluded to), most of these states are not landlord friendly but are more “touchy-feely” tenant friendly.
Just a town away from there. Wright now I have a property that is s/f & rent to family (has it’s ups & downs) & other portion of the property is business rental in Taunton. The area has seen 20+% increase over the last few years & most properties don’t have a positive cash flow (or I don’t know the tricks) & I’m sure we won’t see those #s for a few years. Even a 5-10% return would be ok if I’m looking @ it for 10 years. I am trying to get as much info as I can to make the best purchases. This property I speak of we will be selling soon & have seen over 100% increase in value & we are looking to purchase commercial property that I would like to be able to develope in the future, we need it for business purposes now, we have lots of equity & will probably do a 1031 ex. to differ capitol gains. But I also want to do multy families as well & aren’t sure if we can use the same money if we do a 1031 to puchase & we also want to buy under a trust or LLC or something like that.
Wow lot of reading, sorry
very excited & want to learn everything
Nice to meet you too
Thanks for your advise
Thanks for your reply
I kinda feel the same . We are one of very few states that have seen a large increase in people leaving for those reasons. I have thought of the R.I area, We also have property in N.H but the property taxes there are so hi. Commercial development is seeing a boom right now so prices are getting up there also. Home Depot, Lowes, & about a dozen other large franchises have puchased land & developed in the Taunton area. So I,m not sure how that mareket will go.