Which cities are best for buying small investment property? (Boston: rent, condos)

[Basic2020]

I am thinking of putting down $100 k and buying a house not exceeding 400k to 450k (500k is a stretch). Is it possible to buy an investment property in any good city which will fetch me rents. I am hoping the rent can pay the mortgage. Is it even possible in this market?

[matrix5k]

Worcester.

[simplexsimon]

Originally Posted by Basic2020

I am thinking of putting down $100 k and buying a house not exceeding 400k to 450k (500k is a stretch). Is it possible to buy an investment property in any good city which will fetch me rents. I am hoping the rent can pay the mortgage. Is it even possible in this market?

You'll probably want to look at condos.

Most lenders will require a 25% down payment for investment properties so with $100k you're going to be limited to $400k purchase price.

[yesmaybe]

Invest in a time machine.

[msRB311]

I am surprised Worcester hasn't gentrified more over the past few years. People clearly don't want to live there and spend all they can on a house in greater Bahstan.

[yesmaybe]

Originally Posted by msRB311

I am surprised Worcester hasn't gentrified more over the past few years. People clearly don't want to live there and spend all they can on a house in greater Bahstan.

Because it's a crappy commute.

[msRB311]

Originally Posted by yesmaybe

Because it's a crappy commute.

I also meant I'm surprised more companies haven't set up shop for people to work at. There is employment in Worcester, but not nearly as much as in Boston...which again is why everyone congregates around Boston and any other city is a sh*thole. Which goes back to my comment of I'm surprised things are still this way.

Once we get overpopulated by migrants maybe Worcester will become a hot spot.

[simplexsimon]

Originally Posted by msRB311

I also meant I'm surprised more companies haven't set up shop for people to work at. There is employment in Worcester, but not nearly as much as in Boston...which again is why everyone congregates around Boston and any other city is a sh*thole. Which goes back to my comment of I'm surprised things are still this way.

Once we get overpopulated by migrants maybe Worcester will become a hot spot.

How much inflow of people did Worcester get during the pandemic and WFH? The headlines made it seem like people who left eastern MA went to more rural areas or to other cities in the south...i.e. Worcester's value proposition was low.

If remote work couldn't get people to move to Worcester, it'll have to be employers and industry that require people to be in person.

[msRB311]

Originally Posted by simplexsimon

How much inflow of people did Worcester get during the pandemic and WFH? The headlines made it seem like people who left eastern MA went to more rural areas or to other cities in the south...i.e. Worcester's value proposition was low.

If remote work couldn't get people to move to Worcester, it'll have to be employers and industry that require people to be in person.

yes I agree that employers will have to be the ones to go to worcester. You'd think some companies out there don't want to pay the Boston rent. I mean Worcester isn't THAT far from Boston. It's about an hour.

[newenglandgal123]

Also commuting from west of the city will be far more bearable than from some places like the south shore. Even though distance wise somewhere like Hanover or Plymouth might be shorter...a commute from Worcester would probably more bearable and less stressful.