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Redfin Real Estate Forums :
Boston :
General Query: Investment Properties
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General Query: Investment Properties
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Jazzman
Regular Contributor
Posts: 357
Registered: 02-12-2009
Message 1 of 5
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I'm mostly on the LA forum, and am curious about the experiences in other parts of the country. It's probably, broadly a similar picture, with different shades and overtones. In southern California, the tax credit, and low rates has been a source of frustration for first time buyers, who find themselves in bidding wars with cash investors. More expensive homes still seems to be sitting, listings are low and prices still need to fall to make them affordable. There's quite a lot of chatter about a shadow inventory, that is being filtered slowly onto the market to keep demand high, and prices buoyant. There seems to be no let up in foreclosures, and unemployment figures don't look good. However, investment opportunities seem to be confined to trustee sales, and rental returns for normal market prices are not very attractive, partly because rents have come down due to overcapacity. What's the experience where you live? Are there any good deals to be had anywhere?
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11-03-2009 09:39 PM
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Re: General Query: Investment Properties
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reoman
Regular Contributor
Posts: 86
Registered: 04-22-2009
Message 2 of 5
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Yah, Boston is really turning around...at least in the nicer areas. I'm a cash investor and I can never win aganst an owner occupent. Owner occupents often outbid me!
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11-04-2009 06:01 PM
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Re: General Query: Investment Properties
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Jazzman
Regular Contributor
Posts: 357
Registered: 02-12-2009
Message 3 of 5
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Found this listing that is already tenanted. It looks a little over priced (per sq ft), but looks like a nice little earner. I don't know if a few upgrades would get a better rent, but it's a nice building and "close to everything". I don't know Boston at all, but usually the closer to downtown the better. Are there any areas to steer clear of, and which are the more up market areas? Are there rent controls in Boston. http://www.redfin.com/MA/Boston/1625-Commonwealth-Ave-02135/unit-1/home/9002414
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11-04-2009 08:35 PM
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Re: General Query: Investment Properties
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Alex
Redfin Market Manager
Posts: 106
Registered: 08-06-2007
Message 4 of 5
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Jazzman, Since you asked for shameless plugs and it is our forum, I will throw our hat in the ring. Boston is a great area to be investing in at this moment in time and we have worked with a number of investor clients buying anywhere from single units to buildings of 10 or more. Currently we have a couple of clients under agreement on investment units and have relationships with management companies and other vendors servicing real estate investors. I would suggest reaching out to myself when you have a chance and I can help work on a broad oversight of the various markets and then depending on your areas of preference I can put you in touch with the appropriate Lead Agent. All of our agents have extensive investor experience and that coupled with the power of our search capabilities makes Redfin a perfect place to start your search. All of my information is below and thanks for posting. Thanks,
Alex Coon | Redfin Boston Manager
alex.coon@redfin.com | 617-648-3883
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11-05-2009 08:48 AM
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