Rockland Investment Properties
For the sake of investment, some of the best places to consider in the state of Massachusetts are the towns in the Boston suburbs. These suburbs have served for decades as beautiful suburban oases that the professionals that work in Boston return to on a daily basis, and since they are so close to the city, they tend to have property markets that grow with Boston. As a result, towns like Rockland, which has over 17,000 residents and is only about 22 miles away from Boston, have garnered a lot of interest from investors now that Boston is currently in a growth phase.
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Residential and Commercial Investment Properties
When it comes to property types, this town has a fairly good mix. Unlike other Massachusetts communities, this particular town has an almost 50/50 split when it comes to residential properties. For example, about 52 percent of the homes are single-family and another 47.9 percent are mobile homes and multi-family dwellings like apartments, condos, and duplexes. Additionally, the market has risen in value by almost eight percent in the last year alone.
As a result, investors that are looking to invest in the residential market have a wide array of options for making a good return on investment. Commercial options in town are also fairly diverse. While it's fairly easy to find retail properties to invest in here, you will also have the opportunity to invest in properties like gas stations or office space. Simply put, you have options here, so let's take a look at some of the advantages of owning commercial and residential investment real estate:
- Appreciation – When you're investing, you always want your properties to appreciate over time so that you can sell them again later at a profit, and many commercial and residential properties appreciate at a very respectable rate. As a result, you can typically own a property for a few years, wait for capitalization, and then sell. You can even force appreciation on a property by renovating it and increasing its market value. For optimal appreciation, in many cases, commercial property has a tendency to gain value fastest.
- Exchanges – Property acquisition can be expensive, especially when you consider down payments and capital gains taxes. Savvy investors have found that using Section 1031 of the IRS tax code to execute property swaps with other investors can help save money due to the fact that these 1031 exchanges can allow you to defer taxes. While there are restrictions, this is a major benefit to owning both commercial and residential investment real estate because it allows you to consolidate holdings with ease.
- Cash flow – While you won't have month-to-month cash flow if you're just flipping single-family homes, but when you own rental real estate, the monthly income that comes from rent can be a major benefit. While some of the rent will go to paying your mortgage, real estate taxes, and insurance, a sizeable chunk will definitely go into the landlord's pockets.
- Extensive Finance Options – When you're purchasing property, you'll have more options than just the standard mortgage used by homeowners throughout the country. For example, if you're shooting for a multi-unit property, you can use owner-occupied financing, which can significantly reduce your down payment, and you'll even gain a residence out of the deal. Additionally, for commercial properties that you're investing in, you can also be eligible for commercial loans like the SBA 7(a) and CDC/SBA 504 loans, which can provide financing for properties that cost greater than five million dollars.
Real Estate Market Overview and Neighborhoods
The town of Rockland has three unique neighborhoods that include:
- Beach Street – If you're looking for one of the more in-demand neighborhoods in town, this is a good choice. Multi-family properties are popular here, and since this is a popular neighborhood, this is also a good choice for retail and office space investments.
- Hatherly – Condos and apartments are particularly popular in Hatherly, but there is also a strong market for the single-family home.
- Town Center – Commercial investors that want to invest in retail property will find the most opportunities in the town center. This is also a very popular place for luxury rental property.
Choosing the Right Investment Property
As you might expect, location is everything for just about every property investment, so it's a good idea to take a look at the entire town area so that you can make an informed decision. At Boston City Properties, we have exhaustive listings of available properties as well as info about each so that you can find what's best for your needs. Give us a call at 617-247-1933.
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