Buy & Hold in Newton NJ

[Frank Avallone II]

Investment Info:

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

Purchase price: $249,000
Cash invested: $80,000

Added another buy and hold property to the portfolio!

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

To grow my investment portfolio in real estate.

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

A realtor I have used for a few deals.

How did you finance this deal?

25% down 30 Year Fixed

How did you add value to the deal?

Buying re-doing bathrooms that needed work, while cleaning up the rest of the house.

What was the outcome?

Solid Rental Property

Lessons learned? Challenges?

To broaden my horizons on the areas I was previously searching for. This area is much cheaper from a purchase price and property tax perspective, while having comparable rents.

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

Chris Coronato