Why you should read BANKER AND TRADESMAN
People often ask what they can do to make themselves a better real estate investor. The answer is simple, gain more knowledge.
Recommended Reading
One of the best periodicals in the business is Banker and Tradesman. You can get it in print and online, depending on how old you are.
Online and Print Versions
The online version provides daily links about things going on in Real Estate in MA, most of which is in the Boston Area. You also receive the print version on a weekly basis.
Weekly Sales Rundown
Another useful aspect is that each week they give a complete rundown of all sales for the week. You can see your market and what things have changed hands. From this, you can see how much of your market is not on the MLS.
Off-Market Transactions
In Worcester, MA, Multi-Family—my main market—I am seeing about 30% of the properties transfer without hitting the MLS. In my personal experience, that number is higher.
My off-market numbers are likely higher since the buyers I work with are typically Value/Long Term investors, so they are not forced to buy something but are able to take their time and see things.
Notable Article
This is a great article in the August 30, 2021, B&T titled "Sales of Two and Three Families Jump." Hopefully, the link will work for you. If not, you can search for James Sanna, who is the author.
Key Insights from the Article
The article does a great job explaining the hardship that the delayed rollout of pandemic rental assistance has caused for small landlords of 2-4 Unit buildings. It goes on to show that:
The number of 2 families sold statewide is up 18.78% compared to the 3-year pre-COVID average.
The median price of a 3-family statewide is $500k.
Hopefully, you will get as much out of B&T as I do.
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