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Can ex-TCSer join back TCS??
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I assume you're talking about residential, not commercial. If so, run the numbers carefully. With mortgage rates and real estate prices being what they are, you'll see a negative cash flow for just about anything north of New Jersey. You're really betting on equity value - which feels unsustainable right now.
But, if forced, I'd pick Portland over Providence, and try to target something closer to Old Port - there's enough development there to attract decent tenants or potentially long term corp rentals.
Honestly, my friends that are into it are all buying in the Midwest and doing the distance landlord thing.
The numbers are NOT good out this way, it's not so easy to find a cash flowing property if you're financing on a traditional 30 year term. Beyond that, somewhere like Ohio or Indiana is going to have more landlord friendly housing law.
Would recommend investigating Akron and Indianapolis.
Yes Cape Cod for short term rentals but purchased pre covid and during covid.
Think you can get more then equity market average returns in this real estate market?
I’ve always thought this too
Key is to do research into what your recurring available tenant base will be. That’s often hyper local and the key to success. Bad high maintenance or entitled tenants can break all those financial models quickly.
Also factor in your asset gains separate from cash flows. Ultimately those asset gains are very tied up for the duration.
My two family has been a terrific investment but it’s a long game for me.
Bought a 1br in Boston, downtown adjacent for 322k
In 1995?