New Investors in Western Mass

[Jeremy Dugan]

Investment Info:

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

Purchase price: $425,000

Two 1-bedroom/1-bath
Two 3-bedroom/1-bath

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

Next phase of life after military

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

Off-Market. No negotiation, seller was priced way under market.

How did you finance this deal?

DP: HELOC
Rest: Conventional Residential

How did you add value to the deal?

1 unit vacant will be brought to market rate.
1 unit, illegal tenant, will be evicted and whole unit upgrade and brought to rent.

What was the outcome?

TBD

Lessons learned? Challenges?

None yet. Still learning the lessons.

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

Yes.
The Merrill Group of Naples Realty in Agawam, MA
Mike Rogers of Fairway Mortgage in Suffield, CT