All Forum Posts by: Gary Robert Burnham Jr.

I spend a lot of time analyzing my water expenses at all my 3 family properties.  Many of my landlord friends ask me how I get the bills down.  I tell them here are my tips.  Go on www.landlordusa.com and purchase faucet aerators that lower the gpm flow.  Typical faucets are like 2gpm and you can buy them for 1gpm down to .33gpm.  This will reduce your water bill.  The next thing I do is replace the shower head to 1.5 gpm shower head and buy the ones that require a special wrench to take off.  The third thing I do is add a toilet water saver bag to the top of the tank.  This way the toilet doesn't fill up as much and saves some water each flush.  Any other tips let me know.  Water is very expensive and always a topic of discussion. 

Investment Info:

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

Purchase price: $434,000
Cash invested: $130,200

Excellent property purchased from the same seller of the other property at 1074 boulevard.

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

I asked the attorney I bought it from if they had any more they would sell.

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

I asked the attorney that sold me the other property if they had any more

How did you finance this deal?

conventional

How did you add value to the deal?

I kept an open mind

What was the outcome?

I bought another great property

Lessons learned? Challenges?

ask the seller of the property your buying if they have more to sell

Investment Info:

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

Purchase price: $416,000
Cash invested: $124,800

Bought this 3 family off the MLS from an attorney. Nice 3 family add to my portfolio. This property is a standard transaction with 30% down.

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

adding to portfolio

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

on the MLS and spoke to seller

How did you finance this deal?

conventional

How did you add value to the deal?

I spoke to the seller and worked out a price comfortable for both

What was the outcome?

excellent cash flowing 3 family property

Lessons learned? Challenges?

speak to the seller and work out a deal that both wins

Investment Info:

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

Purchase price: $365,000
Cash invested: $109,500

3 family property in an average location of west hartford. I fixed up the units and got great tenants. now the property is cash flowing excellent.

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

attorney friend was 1031 exchanging and looking to sell.

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

attorney friend and was willing to work with him.

How did you finance this deal?

seller financing and conventional

How did you add value to the deal?

willing to listen to the sellers needs

What was the outcome?

excellent purchase and now cash flowing property

Lessons learned? Challenges?

keep an open mind.

Investment Info:

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

Purchase price: $305,000
Cash invested: $91,500

excellent 3 family I picked up from someone in trouble with tax issues and unfinished unit. Excellent street and excellent cash flow.

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

the seller had tax issues and unfinished units so it was very attractive

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

a real estate agent i know said their current buyer was scared to buy it.

How did you finance this deal?

conventional

How did you add value to the deal?

i was willing to see past the problems.

What was the outcome?

a home run property that cash flows great

Lessons learned? Challenges?

keep an open mind and see the deal finished in your mind.

Investment Info:

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

Purchase price: $420,000
Cash invested: $126,000

This 3 family house is on the nicest street rental street in west hartford. interestingly when i bought the house it made the paper for being the highest 3 family sale price in history. This property is a cash cow and I am so glad I bought it.

Investment Info:

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

Purchase price: $325,000
Cash invested: $97,500

This 3 family house was purchased from an attorney that was doing a 1031 exchange into another investment property. This property cash flows nicely with excellent tenants.

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

My attorney friend was 1031 exchanging property and I liked it so I bought it.

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

My attorney friend

How did you finance this deal?

seller financing, then cash out refi into conventional.

How did you add value to the deal?

I was willing to work with the seller

What was the outcome?

excellent cash flowing 3 family property in West Hartford.

Lessons learned? Challenges?

Always listen to the seller and create a win win for both parties.

Investment Info:

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

Purchase price: $420,000
Cash invested: $126,000

This 3 family house is on the nicest street rental street in west hartford. interestingly when i bought the house it made the paper for being the highest 3 family sale price in history. This property is a cash cow and I am so glad I bought it.

Hey Brent yes I basically over paid for it but with the rents in place the place still cash flows significantly so I really dont pay much attention to the price if I can get 15% on my cash.  I have several in West Hartford as well and love talking real estate.  text me anytime on my cell to connect happy help you with your deals.  

Investment Info:

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

Purchase price: $390,000
Cash invested: $117,000

very nice cash flowing 3 family in west hartford ct we lived in unit 1 for 5 years before building our dream home with the rental property income.

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

We had a great experience with the first one.

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

MLS

How did you finance this deal?

Conventional

How did you add value to the deal?

Closed fast

What was the outcome?

Excellent cash flow

Lessons learned? Challenges?

Test heating system. The wrong heating system was installed throughout the house. We had to go after the sellers.