Boston real estate is a terrific investment for a variety of reasons and the focus for many real estate investors around the world. Boston is one of the most popular cities in the United States. It’s a financial and cultural center and its influence in politics, education, entertainment, media, fashion and the arts all contribute to its status as one of the major global cities. The city boasts a high quality of life, high household incomes, and vast opportunities for cultural and entertainment activities. Boston has one of the world’s most highly-developed and integrated economies and is a hub of international business and commerce. The city is a major center for finance, insurance, real estate, media and the arts in the United States.
The Universities of Boston:
Boston is always going to be a great market for real estate investors simply because of our student base. Boston has some of the most prestigious universities in the country including Harvard, MIT, BC & BU. With the constant influx of students and young professionals, there is a virtually never ending demand for rental units. The Boston rental market is very dynamic and a few blocks closer to the university can mean a few hundred dollars a month more in rent.
“Students aren’t going to stop coming to school here, so there will always be a great demand for housing.”
Boston is a great city and our colleges aren’t going anywhere. If you’re looking for a great buy and hold investment, purchasing a multifamily building or a condo rental is a wise choice. The closer your rentals are to campus the higher the monthly rental rate but you don’t necessarily need to be next door to one of the school to grab a terrific investment. Boston has a terrific public transportation system and you can be almost anywhere in the city within 30 minutes.
The Mandrell Company always suggest an investors approach these investments with a long-term timeline. Potential buyers also need to have their financing lined up and be ready to make moves quickly. These properties don’t become available on a regular basis, so to catch a deal you have to do your homework, work with a good Realtor and be ready to make a move when an opportunity presents itself.
Realtor.com contacted TMC awhile back and asked if we could contribute to a couple articles the site was writing about investing in neighborhoods with big college crowds. They were looking for Realtors in a few different cities to write about their experience dealing with investors of college apartments. Below the link to the article they published. Check it out.