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Posted almost 16 years ago

finished rehab...

just finished rehabbing my latest 3 decker...got it fully rented for $4150 for all 3 units...just have to get the lead paint cert for the first floor, i have the dust wipe test coming tomorrow, so ill be on my hands and knees cleaning floors and window sills tomorrow

now i just need to refi out of my HML

put an offer in on a 2 family today for $118K, asking $115k...i bet i dont get it...i have lost at least 10 deals lately to other investors bc most deals are going all cash...property needs a new roof and some outside drain work as well as some interior work where roof was leaking...needs about $25K in rehab...should be worth $225K ARV...i may try and flip this one... if i want to rent - both units should rent for $1400 each...will have good cash flow

multi family market in and around boston is picking up...many buyers looking for rental properties...inventory is shrinking also

going to my 2nd auction tomorrow...6 units, my # is $200K...i cant get into the bldg but from outside looks like it needs work...

last wk i went to my first auction, everyone there knew each other except me...o well, learning process 

 

 


Comments (1)

  1. Being the outsider could work to your advantage, BTW. No one knows what to expect from you, whereas I'm sure the gang at the auction probably all know how one another bid.