All Forum Posts by: Brett Merrill
Brett Merrill has started 24 posts and replied 108 times.
Post: BRRRR is the BESTTTT

- Rental Property Investor
- Ludlow, MA
- Posts 114
- Votes 48
@Nicholas L. I took out an even 100. I decided to leave some money in the deal at that time. However, with the rate increases now I regret not taking that cheap money while I could have. Either way I was happy with it. Thank you with the kind words. Also, I am doing a blanket HELOC with the some of my properties so I'll snag that back out soon.
Post: Suggestions on creative financing

- Rental Property Investor
- Ludlow, MA
- Posts 114
- Votes 48
Hi @Jourdan Mercer sounds like you have done a great job putting in the hard work to find a good deal which a lot of the times is the hardest part. There's certainly a lot going on with this deal but the fact that they are open to all of those creative financing options is definitely a plus. I have a few ideas to run by you if you're interested. Feel free to message me so we can connect and talk more about it.
Post: Is Massachusetts impossible??

- Rental Property Investor
- Ludlow, MA
- Posts 114
- Votes 48
I agree with @Joe R. with the things to consider. However, I have had a lot of success with my clients as well as with my own portfolio in the Western MA area. I have units in B- neighborhoods with excellent tenants and little to no vacancy. I believe it to be a very strong rental market with a lot of upside if you know where to look and with proper management.
Post: Completed/Sold 2 Condos in Salem Massachusetts

- Rental Property Investor
- Ludlow, MA
- Posts 114
- Votes 48
Congratulations @Eric Sullivan. Very impressive. I have not done one of these yet and am very interested. I'd love to connect and learn more about it if you would allow for the time.
Post: Driving for dollars - Massachusetts

- Rental Property Investor
- Ludlow, MA
- Posts 114
- Votes 48
Hi @Casey Dimascio I have had good luck with Deal Machine. I like the platform and appreciate their tutorials/training.
Post: BRRRR is the BESTTTT

- Rental Property Investor
- Ludlow, MA
- Posts 114
- Votes 48
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $136,000
Here is a quick breakdown of my latest BRRRR! This is a 2-family 3bed/1bath for each unit.
Purchase price: $136,000
Down payment + CC: $29,200
Repair Cost: $71,000
Interest only at 4% for repair cost x 5 months: $1180
All utilities split
Top unit rented annually for $1500/month
Bottom unit rented annually 1450/month
Total rent $2950
All in for 101,380
Appraised at $337,000
Cash out refinance for $100,000
Total cash left in the deal: $1,380
.
What made you interested in investing in this type of deal?
Bigger Pockets Podcast gets 100% the credit
How did you find this deal and how did you negotiate it?
Circle of influence. A fellow gym member for this particular deal.
How did you finance this deal?
House hack 5% down for the purchase. Private money interest only for the rehab.
How did you add value to the deal?
Full remodel of both apartments interior and exterior. Added a bedroom to one of the units.
What was the outcome?
Purchase price: $136,000
Down payment + CC: $29,200
Repair Cost: $71,000
Interest only at 4% for repair cost x 5 months: $1180
All utilities split
Top unit rented annually for $1500/month
Bottom unit rented annually 1450/month
Total rent $2950
All in for 101,380
Appraised at $337,000
Cash out refinance for $100,000
Total cash left in the deal: $1,380
Lessons learned? Challenges?
I had some difficulty with some subcontractors and would have save money and time with a better team.
Post: BRRRR is the BESTTTT

- Rental Property Investor
- Ludlow, MA
- Posts 114
- Votes 48
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $136,000
Here is a quick breakdown of my latest BRRRR! This is a 2-family 3bed/1bath for each unit.
Purchase price: $136,000
Down payment + CC: $29,200
Repair Cost: $71,000
Interest only at 4% for repair cost x 5 months: $1180
All utilities split
Top unit rented annually for $1500/month
Bottom unit rented annually 1450/month
Total rent $2950
All in for 101,380
Appraised at $337,000
Cash out refinance for $100,000
Total cash left in the deal: $1,380
Thank you beardybrandon and BiggerPockets for the wealth of information and invaluable tools you provide to make deals like this possible! Also, thank you John Krause for you excellent guidance through the creative lending process.
What made you interested in investing in this type of deal?
Bigger Pockets Podcast gets 100% the credit
How did you find this deal and how did you negotiate it?
Circle of influence. A fellow gym member for this particular deal.
How did you finance this deal?
House hack 5% down for the purchase. Private money interest only for the rehab.
How did you add value to the deal?
Full remodel of both apartments interior and exterior. Added a bedroom to one of the units.
What was the outcome?
Purchase price: $136,000
Down payment + CC: $29,200
Repair Cost: $71,000
Interest only at 4% for repair cost x 5 months: $1180
All utilities split
Top unit rented annually for $1500/month
Bottom unit rented annually 1450/month
Total rent $2950
All in for 101,380
Appraised at $337,000
Cash out refinance for $100,000
Total cash left in the deal: $1,380
Lessons learned? Challenges?
I had some difficulty with some subcontractors and would have save money and time with a better team.
Post: How to find code violation list/tax liens in Mass?

- Rental Property Investor
- Ludlow, MA
- Posts 114
- Votes 48
Hi Luigi,
I have definitely found that going to the local departments in person has the best results.
Post: Real Estate Investment Associations

- Rental Property Investor
- Ludlow, MA
- Posts 114
- Votes 48
Hi Sarah,
We have a great meet up if you are in the Western MA area. Feel free to reach out and I will give you all the details.
Post: New Real Estate Investor

- Rental Property Investor
- Ludlow, MA
- Posts 114
- Votes 48
Welcome to BP Jourdan! This is the place to be. I invest out on the western part of MA right now. The Cape is also next on my list. We have a place in Dennis. It would be great to connect. Reach out anytime!