2 Responses to “Don’t buy in Boston? Huh?” »»

1. Funny
   Comment by Funny | 08/16/12 at 7:50 am

   I’ve seen rents soaring 200-400 in the last two weeks due to the globe running an article on “high rents” (on new luxury apartments), which led to landlord (with non-luxury apartments) to increase their prices, which cause the cable new programs to run stories on high rents.

   All just in time for the Sept 1 student season.

   Anyways, $10k bet they crash back in a few months in the off lease season. The current frenzy is laughably ridiculous, if it wasn’t screwing over so many tenants.

2. wmc
   Comment by wmc | 08/16/12 at 10:36 am

   I’ll buy more properties in downtown Boston whenever I can. Obviously, the price paid is key. Also, how much cash you have is key too. I don’t want a lot of debt even at low rates.

   One 2BR I have was (is) rented out at $2900.00 per month. My RE guy told me to move it higher to $3100 or $3200.

   In January, 2012, I told the tenants that the new rent was going to be $3000.00 starting in Sept. 2012.

   Prime Boston RE is better that cash in the bank.

   And cash in the near future can trigger good buys as the economy spins downward in the next few years.

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