Considering a multi?

Posted by on Nov 9, 2015 in Blog, Investment Property | No Comments

Davis Square

I lived with friends in the top two floors of this two-family house on Simpson Avenue in Davis Square, Somerville in 1994. The rent was $250 a month per person– inconceivable in today’s market! I enjoyed the experience so much, I considered buying a multi-family home of my own. The upsides were obvious: rental income and flexible living space (in other words, I could reclaim parts of the rental unit over time if I needed to). Plus, down the road if I decided to move on to a single family home, I would have a strong investment in place for the long haul. Truth is, the ROI (return on investment) is different with each multi family depending upon the condition of the property, what improvements you choose to make, how strong the rental market is (ours is strong), and how long you will hold the property. Though many of the two and three-family houses in nearby markets have been bought and converted to condos, I can help you find one of the really great ones still to be had.

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