Two Family Investment Stoneham, MA.
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $500,000
Cash invested: $100,000
Buy and hold multi-family property initially house-hacked prior to purchasing the single family in the burbs.
What made you interested in investing in this type of deal?
Great area and property needed significant renovation upon acquisition.
How did you find this deal and how did you negotiate it?
Open market.
How did you finance this deal?
Conventional financing.
How did you add value to the deal?
Property needed significant renovation to both units in order to make attractive to end tenants. House hacked while completing the renovation and have continued to invest in the property. My first tenants were paying ~1,600/month and current leases are climbing towards $3,000 a unit.