Buying an Investment Property in Cambridge, MA
If you’re looking to buy an investment property in the Cambridge area, you really need to understand the make-up of the tenant pool in the various parts of Cambridge.
Not all areas are created equal. We could look at three identical units - same layout, same condition, same amenities and we could see a wide spread on the rental value of those units, based on where they are located.
So it’s critical that you work with a real estate agent who intimately understands the value of the units you are looking at. But more than that, you need an agent who understands what tenants want. Why? If you know what tenants want, you can buy what they want and/or update units you buy to turn those units into what tenants want.
When you get really good at finding what units want and turning units into what tenants want, a few things happen. First, you increase the rent coming into each unit. Second, when the rents go up, the value of your property goes up. Third, if you provide a quality product that is in demand, the DOM (days on market), goes down - meaning it takes less time to rent your units. When you save time, you save headaches and stress. Fourth, when you provide a product that tenants want, tenants are happier and tend to stay longer. The longer tenants stay, the less time you generally will spend on your investment property and the less you will need to spend in turnover costs - things like fresh coat of paint, refinishing floors, fixing appliances, etc.
I will work with you tirelessly to find the right property for your needs that fit your budget. But I’ll do something most investment real estate agents will not do - I will rent all your units every year to ensure that you get top dollar AND with great tenants in place. I will be there for you every step of the way after you own your investment property, to ensure we can navigate whatever comes your way together.
Continue reading about things to keep in mind when buying a multi-family investment property, what to think through if it’s your first time, and how I can help you no matter what stage you’re at.
If you are thinking of buying a Cambridge investment property and don’t know where to start, give me a call at 617-833-7457 and I am happy to help.
Check out my video below on what investors should keep in mind when buying in Cambridge:
Past reviews from Cambridge Clients:
It was a true pleasure to work with him, I can fully recommend him to anybody looking for a real estate broker in Cambridge. - Peter Gloor
Sage helped me buy my first investment property in Cambridge with so much knowledge and diligence. He walked me through the process with no rush. It took us 5 months of constant texting back and forth and not one time did he make me feel that my questions were too much. He helped educate me on the market. Multiple times I sent him properties, very eager to put in an offer and he would turn me down, saying this is not a good property or not the best part of town to get rent. He is not the typical real estate agent to make a quick buck. This guy is definitely looking to only make long-term business relationships. As a foreign national that is buying overseas with a lot of money on the line, you can trust Sage with that. Cambridge, Somerville or “Camberville” as they call it is his playground. Not only is he on top of any property that comes on the market even before it’s on MLS or Zillow, he also has connections to off market properties.” - Nicola Tawfik
Sage is a warm and friendly person who is very knowledgeable on all things about Cambridge real estate.If I needed his services again, I would not hesitate to seek out his abilities! Everything went so smoothly, from the first walk through to the last on the day of closing! - Flora Genet