New England is a beautiful place ,especially in the fall.Did you know that New England is also littered with triple decker buildings .They have 3 units in each building and they are 3 stories tall..These buildings have a lot of history in them..At the highest point in the economy about 5 years ago ,These golden nuggets were selling for a Whopping $425,000 in some cases..If they were worth this amount or not is another post.

But as these BLDGS were very poorly renovated back in the 80s.They are actually ready for remodeling again ..Or in most cases ,complete gutting..Now in massachusetts they are actualkly requiring sprinkler system in the dwellings..These dwellings have been selling for the last few years close to $60,000 up to around $100,000 Bucks..And if you know what you are doing you can throw maybe $50,000 into these goldmines and with an out come of around $150,000 you can have yourself a nice 3 family dwelling that will accept up to 3-4 bedrooms .

Low income rental is the way to go here.Only because of the simple fact that collecting rent these days is like chasing a rabbit..Section 8 pays good money to put one of their low income pre qualified tenants into these Bldgs...Simply let them move in ..$1200 month for a 3 bedroom,The state pays you $1100,The tenant gives you the other $200 every month...

Do the math...$1200 a month Times 3 apartments equals $3600 now your mortgage is right around $1100 a month with normal credit Plus $300 month insurance ,Water Bill..Your still talking right aroun $1500 a month Profit....There are dozens of people doinfg this up and down the streets of New England...Most of them Dont have a CLUE! What they are doing..The banks are approving them as well...

Dwindling effects ...In the last few months i can see all the small real estate investment companies tightening down their spending.Mostly because they dont have any money left.,.They need to BUY another 3 decker right away Quik,Quik,quoik...So they think,.,,,They are running very low now...as i see only a select few triple deckers under $100,000 at this point...I can only say this ..Be very careful who you do business with right now..especially contractors and sub contractors..These guys have been holding on to the little bit of work thats around at bottom dollar for such a long time ..

They are all hanging on by a thread....Trying to pass the BUCK on to YOU!!