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Gary Robert Burnham Jr.
  • Lender
  • South Windsor CT
5
Votes |
21
Posts

2 Family Excellent Rental Property

Gary Robert Burnham Jr.
  • Lender
  • South Windsor CT
Posted Jan 19 2022, 13:55

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $310,000
Cash invested: $93,000

Very excited to announce my wife and I added 2 new units to our portfolio in South Windsor CT and have 2 great tenants in place.

What made you interested in investing in this type of deal?

The property is in an excellent location with great school systems and excellent tenant base.

How did you find this deal and how did you negotiate it?

I found it on the MLS and submitted an escalating clause up to a certain price.

How did you finance this deal?

Conventional financing

How did you add value to the deal?

I closed this loan within 30 days because of our mortgage firm that I now work with.

What was the outcome?

very nicely cash flowing property for our portfolio with excellent tenants.

Lessons learned? Challenges?

thorough inspection required before signing at closing. do not miss anything.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

yes I worked with real estate agent and a lender Right Step Mortgage. I now work with them.

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