Home Buying in Boston>Question Details

Seq, Home Buyer in Katy, TX

Looking purchase a rental property in Boston - Want a prop to hold for long term, attract high quality renters, and cap appreciation. Where to look?

Asked by Seq, Katy, TX Mon Oct 17, 2011

Budget will be around 300-350 K - do not want a flip type property - want something newer but in a solid location.

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16
Boston Luxury Residential LLC’s answer
$300-350 range does not offer much in Boston. According to your criteria, I would suggest the South End right now. here are a couple of links for you:
http://bostonluxuryresidential.com/luxurybuildings/619-mass-…
http://bostonluxuryresidential.com/luxurybuildings/the-moder…
Both new construction near high demand areas where prices will continue to climb as will value.
Kind regards,
0 votes Thank Flag Link Mon Jan 23, 2012
In your price range, I'd recommend South Boston for sure. Or try & steal some property at auction. Check out my featured auctions http://www.northeastre.com/residentialbrokerage/auction-calendar/

For more info on these auctions or some of our off market availability for investment property shoot me an email - Evan@northeastre.com
0 votes Thank Flag Link Mon Jan 23, 2012
Seq,

If you still looking for an agent to work with, feel free to reach out to me anytime. There are some great new construction and renovated condos in prime renting areas like South Boston ( currently one of the top investment areas in Boston for rentals) and the Seaport area. In that price range, you will get 1-2 bedrooms plus parking- which is always attractive.

While buying in the Back Bay or Beacon Hill is nice, chances are good you will be putting reno money into the unit in addition to the sale price.

Best,

Joe Barka

Estate Property Group | Lofts.Com
Mobile: 617-784-8760
E-mail: Joseph@lofts.com
Web: http://www.Lofts.com | http://www.estatere.com
0 votes Thank Flag Link Tue Nov 1, 2011
There are definitely options however in that price range you would be limited to size and number of bedrooms and also location. There are some great options, though, in areas such as JP, West Roxbury, South Boston ( to name a few) In the higher priced markets like beacon hill and back bay, you can find some great rental opp's but they may be studios and unfortunately right now the inventory is low.

We are an exclusive buyer brokerage and therefore experts in negotiating and valuations.

Check us out here (plus get access to everything on the market hassle free):

http://territory.com/
Web Reference: http://territory.com/
0 votes Thank Flag Link Tue Oct 25, 2011
You are in the 1-1.5 bedroom price range for downtown Boston. At that price you would not need to do any major renovations. Judging from the rental market thus far in 2012 it would rent extremely fast. If you would like to talk more about the Boston market (both sales and rentals) feel free to give me a call 617-275-6624. I definitely can simplify things for you.

Take care,
Theresa

Theresa
0 votes Thank Flag Link Tue Oct 18, 2011
Dear Seq,
I specialize in working with investors in the Boston area. You've chosen a good market with stable real estate values and rising rental prices. You have many great options in your price range, and I would be happy to help you find them. Please check my company's website: http://www.bostontrend.com. Looking forward to hearing from you.
Natalia Volkova
Owner/Broker
(617)319-5084 cell
natalia@bostontrend.com
0 votes Thank Flag Link Tue Oct 18, 2011
I think there is an excellent investment potential in the heart of Boston (South End, Back Bay, Beacon Hill, etc.). Whether you are looking to buy a multi-family or a single condo. The rental prices have easily increased 10-15% over last year. I can certainly help with your sales purchase as well as give you an understanding of what the rental income you could expect with each property you view. I can also advise you regarding upgrades to your investment property to increase your investment income. Looking forward to hearing from you.

Sincerely,
Theresa

Theresa DiPiro
Gibson Sotheyby's Intl' Realty
Residential Sales and Leasing
c 617-275-6624
e tdipiro@gmail.com
0 votes Thank Flag Link Tue Oct 18, 2011
Hi Seq

Dorchester is your best bet. With a price range of 300-3500 you would be well served to purchase a nice 3 family home. The rents are very high compared to the price of the real estate. I just had a client purchase one and is basically living rent free considering that 2 of the rents cover his mortgage.

The logic is also there. If you own 3 rental units and have one vacancy you lose 33% of your rents for a short period. You purchase a condo and you lose 100% of your rents and must bare the expense out of pocket.

I work with many investors in the South Boston and Dorchester areas. Please give me a call if you have any questions or need some further advice.

Good luck!

Willie Mandrell
Capital Residential Group
Investment Sales Agent
Phone: 617-297-8641
Office: 617-268-1119
Web Reference: http://www.wjmandrell.com
0 votes Thank Flag Link Tue Oct 18, 2011
Depending on the type of renter you want to get, I would go with Newton, Brookline, or Cambridge. Arguably, you will get the most bang for the buck in Cambridge - and more equity that will offset a lower tax rate (so you can afford a little more equity in Cambridge instead of paying a high tax rate. All three are stable towns that attract affluent and stable renters.
0 votes Thank Flag Link Tue Oct 18, 2011
Hi Seq,

At this price range I suggest purchasing in or near University areas. While some of the below mentioned areas are wonderful, Brighton near Boston University and Boston College or Waltham near Brandeis and Bentely. I recently sold a few condos in Brighton, Allston. There are several issues you will need to contend with and I am an expert in the area. Please contact me at 617-233-9651 to discuss. Website below for your convenience.

thanks,
Kenzo

BOSTON UNIVERSITY ALUMNI ASSOCIATION
0 votes Thank Flag Link Tue Oct 18, 2011
With your price range you need to be working with someone who has been there and done that. There are tactics that investors use that are beyond the normal Realtor mode of acquiring property. I am not talking short sales and foreclosures, you have mentioned you are not interested in a fixer-upper, but one that is move in ready. To obtain these kinds of properties you need to have shoes on the grounds in the neighborhoods that are most attractive. While Back Bay, Beacon Hill and South End are very attractive Boston is a college driven and young town. Areas like Brighton, Alston, Somerville and others provide exactly what you are looking for. I am licensed in both Texas and MA and understand where you are coming from. Give me a call and I will share greater and more in depth information.
0 votes Thank Flag Link Tue Oct 18, 2011
I agree, the Back Bay, South End, and Beacon Hill offer unparalleled rental potential, but the cost of entry into these neighborhoods can be steep. Given your budget, Charlestown and South Boston have a stable rental market and offer a compelling investment alternative to downtown. Cambridge and Brookline are also extremely desirable locations with probably more inventory to suit your investment objectives.
0 votes Thank Flag Link Tue Oct 18, 2011
Location, location, location. BACK BAY or South End are by far Boston's most desirable residential neighborhoods. If you go for a full service building, then you are most likely to attract the high quality renters you are seeking.
I specialize in the Back Bay, South End, and surrounding areas. Please feel free to visit our website for more information.
Please keep in mind that at Boston Luxury Residential, not only do we assist you purchase a property, but we also help you manage it.
0 votes Thank Flag Link Tue Oct 18, 2011
Seq,

Location location location, Brookline, Newton attracts the quality that you are looking for, and the stability that is important for a long term investment. I represent those that rent to those that purchase Malls.
I can be reached on my cell at 617-799-3326 or email lw29@comcast.net
Web Reference: http://www.LouisWolfson.net
0 votes Thank Flag Link Tue Oct 18, 2011
I fully endorse Ina as a top notch Boston agent.
0 votes Thank Flag Link Tue Oct 18, 2011
Hi "Seq",

My name is Ina and I work with a number of investors in the Boston and Metro-Boston area. I would be more than happy to speak with you off-line.....you can reach me by telephone at 617-645-1909 or by e-mail at Ina@Ask-Ina.com

I look forward to speaking with you.

Ina
0 votes Thank Flag Link Mon Oct 17, 2011
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