20 Marshall St. Leominster, MA 01453
Investment Info:
Single-family residence wholesale investment.
Purchase price: $102,500
Cash invested: $5,000
Sale price: $140,000
4 bed, 1.5 bath, colonial built in 1908 with 1,848 sq feet of living space.
What made you interested in investing in this type of deal?
Leominster is our home market.
How did you find this deal and how did you negotiate it?
We are lucky enough to work with Keith Shaw & Al Sciola of LAER Realty Group; they introduced us to the property.
How did you finance this deal?
We paid cash; this purchase happened at the height of the Covid-19 pandemic, our lender changed their terms so significantly that it made sense to purchase in cash.
How did you add value to the deal?
We took a lot of time to negotiate the sale with the short sale lender; we obtained detailed estimates that led the appraiser to reduce the 'as is' of the property to a point where we were able to make a very good resale.
What was the outcome?
We made a fair return on our money.
Lessons learned? Challenges?
Hard work during tough times pays off...
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Keith Shaw & Al Sciola of LAER Realty Group.
