Multi-family homes in Boston are in high demand- there’s no question about it. With home prices continuing to move upwards, you might be asking yourself: is buying a multi-family home a good investment?  For the most part, yes, buying a multi-family home is a good investment. Real estate investing is a great way to build long-term wealth.  If you hold the asset for 20 years or longer you can build up some incredible equity that you can use to purchase other investment vehicles which certainly helps with retirement.  That being said, not all investment properties are created equal and you still need to do your due diligence.

If you have vision and can see opportunities to renovate and reposition the asset; you can often get amazing returns that other people would not think of implementing at a property.  Therefore, it is important that you take the time to consider all options before you buy a property.  You can always ask to bring over a reputable contractor to get some potential estimates on the price of renovating so that you can figure out the potential rents you are seeking.  Often times you can put in some capital improvements that propel the asset into a much more attractive and lucrative position in the marketplace.

If you’re thinking of purchasing a multi-family in Boston, work with a reputable agent with access to real-time market data in each specific neighborhood.  You want to know the rents at all levels based on the condition of the asset.  It is also preferable that you work with real estate agents that have considerable knowledge and potentially own rental properties themselves so they can give you their personal insight. They’ll be able to help you find the right property for you, and accurately price your future rental units. Working with a seasoned agent will give you an upper hand when buying in such a tight market!

Here is a glimpse into what the Boston multi-family market looks like today around the $1 Million price point:

Three-…




Source link

Turn leads into sales with free email marketing tools (en)

Join Us

Subscribe Us

Related Post