Beautiful Victorian small town setting

[Ryan A.]

Investment Info:

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

Purchase price: $242,000
Cash invested: $25,000

Triple Decker Victorian in historic downtown Westerly

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

Wanted to be rich

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

Scoured the market for my first deal and found an underpriced short sale

How did you finance this deal?

Conventional FHA low down, low interest

How did you add value to the deal?

Lots of hard work. Help from friends and family. Mostly cosmetic, some appliances to replace, lots of paint, two boilers, two water heaters, yard and garden work

What was the outcome?

House hacked for 4 years, moved out & Cash flowing ~800/mo