Cheap Four Families in North Adams
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $245,000
Cash invested: $60,000
Contributors:
Ellen Peterson
A large four-family buy and hold project that will net approx. $2,300 a month after stabilization.
What made you interested in investing in this type of deal?
It was affordable and the Cash on Cash Return was superior.
How did you find this deal and how did you negotiate it?
Off-Market in a Realtors Pipe-line.
How did you finance this deal?
Joint Venture, Cash
How did you add value to the deal?
Stabilization and Partial Funding.
What was the outcome?
Effective Deal. Should pay its self back within two years.
Lessons learned? Challenges?
Build Rehab Budget into Loan. rather than fund from outside.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Myself, Gary Fuls, and Dour Mercurio.
