My 3rd purchase

[Rob Hansen]

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $350,000
Cash invested: $105,000

2 Family Up/Down, listed for $425,000 talked them down due to asbestos siding and a poor roof. 2 Bedroom 1 bath on both units.

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

Was looking to get back into real estate investing and wanted more units

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

A lot of looking, it took me 6 months to find this deal and another month to lock it down with my terms.

How did you finance this deal?

30% down personal cash, 70% loan. Also added an $80k rehab loan for the roof, siding, plumbing, electrical and deck work

How did you add value to the deal?

$80k rehab loan for the roof, siding, plumbing, electrical and deck work

What was the outcome?

Currently in progress, but moving along very well

Lessons learned? Challenges?

Patience again, another is don't be afraid to ask for more money off, the worst they can say is no. At the final hour I needed 20k off, to make the deal they took it.

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

Keith Shapiro, Realty Executives out of Framingham - Fantastic Agent
Cliff Bowyer, - Fantastic Money Man
Bruce - New Stage Home Improvement out of Natick MA - GC who is killing it on this rehab