Just recently sold an investment property in Marlborough and it was quite profitable for the investors.
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.
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.
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,
If you can give more specifics we can probably help you better.
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.
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!