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Old 03-04-2017, 07:58 PM
 
1 posts, read 527 times
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I am looking to invest in real estate property for rental income and wondering if Chelsea , Everett would be a good choice as other areas closer to boston are too expensive for investment.


- How is the rental market in these 2 areas ?


- Potential for prices to go up ?


- I have done some research and read at many places that crime rate use to be high , is that for fact ?


Appreciate your responses.
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Old 03-05-2017, 02:04 AM
 
Location: New England
1,925 posts, read 1,070,115 times
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Chelsea is the better buy imo. The silver line will make it more accessible to the seaport and south station. Also it doesn't have a chintzy casino being built within its borders.
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Old 03-05-2017, 09:21 AM
 
Location: Norwood, MA
19 posts, read 7,537 times
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Bos_interstor,

Very good questions, there are pockets in these towns that crime rates are causing the entire city to look bad. There is always the potential for the values to go up due to buyers being pushed out of the city of Boston because of the rise in prices. Many of the multi units in Chelsea and Everett are Bank owned property which make the prices look much more attractive but there in need of major repair. If it's a good property you can get great rents but many of the renters are on section 8 housing and you must be in compliance with all the regulations.

My question to you would be....what's your price range and how much work are you willing to do. What are you planning to put down? The #'s have to work and with 2 units, they are very hard, which brings us to 3,4,6 unit building which are very scarce, competing against other investors which bring values through the roof.
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