Home Buying in 01752>Question Details

Ikpong, Other/Just Looking in 01760

profitable is it to buy an investment property in marlborough?

Asked by Ikpong, 01760 Tue May 5, 2009

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it would certainly depend on the location in Marlborough and also the type of investment your looking into. There are many sides to Marlborough and rents can certainly vary. Overall Marlborough is a great plaice for an investment property. Whether it's for the purpose of becoming a landlord/owner and renting to tenants or for the sole purpose of buying homes that could use some MAJOR love at a low price, fixing them up to code and beyond and selling them for a profit there are great opportunities scattered throughout Marlborough.

Just recently sold an investment property in Marlborough and it was quite profitable for the investors.
0 votes Thank Flag Link Fri Sep 12, 2014
It depends. Marlborough tends to get higher rents than some of the towns further west. For home flippers, there are a few properties on the market that might make sense.

It depends on the numbers. Do your homework. Know your costs. Plan for your costs to be 20% higher than your calculations, and see if it still makes sense.
0 votes Thank Flag Link Tue Dec 10, 2013
Marlborough has a great rental market both for residential and commercial markets. So if you can find property at the right price, it should be pretty straightforward in getting it rented out. Don't know what CAP rates you're looking for, but getting over 6% in Marlborough shouldn't be that difficult and I believe Marlborough currently has over 80% occupancy.

As with any community, knowing the town is important ... there are pockets of Marlborough that are more popular than others. Also, if you aren't already, it would be a good idea to be familiar with Massachusetts' Landlord/Tenant laws unless, of course, you're looking into storage real estate.

Let me know if I can help you. I've owned investment property in Marlborough for over 20 years myself.
0 votes Thank Flag Link Thu Nov 29, 2012
Hi lkpong, yes Marlborough can be profitable. Any town is profitable if you find the right property and the rents at least cover your mortgage. I have worked with many investors and recently one of my investors purchsed a 3 family after rents cover mortgage he makes 1,400 a month. You may need a 30% deposit for this type of purchase.
Web Reference: http://www.mdmrealtyinc.com
0 votes Thank Flag Link Sat Jun 19, 2010
Hello- As with any town, you have to be careful with your assumtions, on rent, and a resale, and when...
Smart $$ says that we will not start to have increasing real estate prices for another 2+ years.
As far as buying and renting it out, take a good look at the local rental market. Apartments, PLUS also houses for rent.
In a bad seller economy (now) many desperate sellers will end up not selling but renting out their homes. Many of these people will rent out their house for cheap $$ because they still have to pay their mortgage every month on that property and they are maybe even in another state.
In general, keep in mind with any rental to budget based on what is a realistic rent you can get, and then only figure on 75% of that number. The other 25% you will be spending on different things, and vacancies, etc.
If you need any other question, please contact me. Good luck,
Ken L.
0 votes Thank Flag Link Sat May 15, 2010
What do you mean by investment property?

Amy
amymullen@remax.net
0 votes Thank Flag Link Fri May 14, 2010
Marlborough is a gem of town surrounded by Communities that offer in many respects similar qualities at much higher prices/taxes. Smarter money would tend to want to invest in a community with characteristics such as this. Additionally Marlborough High School was recently rated a one of the 50 best in Massachusetts. It also has a very highly regarded Mathematics and Science Charter school. So in a nut shell... low taxes, great community, reasonably priced feature rich homes surrounded by Communities that offer pretty much the same thing yet at much higher prices/taxes. That sums up Marlborough.
0 votes Thank Flag Link Tue Jun 23, 2009
Do you mean rental income as a means of profitability (make more than your monthly mortgage payments)? If so, sure, there is always opportunity you would just need to take your time finding a property you could buy under market value and keep your mortgage payments less than the average monthly rent in Marlborough.

If you can give more specifics we can probably help you better.
0 votes Thank Flag Link Tue May 5, 2009
Hi Ik...

Marlborough, as is true in many areas, currently offers some fantastic buying/investing opportunities. However, you do need to define what you mean by "profitable". Are you looking for long term investments in rental properties? Then now is a GREAT time to buy! The number of people looking to rent in this economy is very high, which obviously bodes well for those with rental properties. If, on the other hand, you are looking for the "quick flip", then your ROI will likely not be what you are looking for. With the surplus of foreclosed and short sale properties available now, if you are able to invest with an eye to the long term, chances are you will look back and thank your lucky stars that you had the means and the foresight to invest in real estate now! Please let me know if I can be of assistance in your search.
0 votes Thank Flag Link Tue May 5, 2009
Good Afternoon,

It is absolutely profitable in Marlboro. There are a lot of great deals in Marlboro and a ton of foreclosures and bank owned properties. You can find a house that is a steal! If you were looking to buy a multi family or even a single family home as a rental, Marlboro is the place to do it! There are tons of rentals in Marlboro and they tend to be snapped up quickly! If you would like any more information about the properties that are in foreclosure status or any property in general, please email me and let me know your price range and what you are looking for. I would love to help you!
Heather

Email: heather@realestatebylaurab.com
0 votes Thank Flag Link Tue May 5, 2009
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