Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 9 years ago on . Most recent reply

User Stats

3
Posts
0
Votes
Michael Quigley
  • Medford, MA
0
Votes |
3
Posts

Multi-Unit

Michael Quigley
  • Medford, MA
Posted

I am looking at Multi-Units (3+) that will give me a possible profit that I can live in and rent two. I am from Boston, MA and want take advantage of a 3.5% FHA loan. I found a unit that has a 1BR on the first floor (potential $1600/month), 2BR on the second floor (potential $2100/month), as well as another stand alone unit that has a renovated (2BD) standalone behind it that I want to live in (potential $2100/month).

All three units were renovated within the last 5 years (including appliances and roof) with hard wood, electric stainless steel appliances, and the cosmetic renovations needed for an old home done. It comes with a yard and looks right for an investor to live in the back unit (2BR) and rent the front two (1BR and 2BR). 

The problem is, it has been "flipped" since July 2015 and they are going to make a large profit flipping it. It has been on the market being sold as three separate units and nobody has decided to buy for over 45 days. How can I figure out the right price to buy all three units and how do I figure out how to buy two stand alone homes within the same address? Is that possible? 

The address is in East Boston, MA. 

Loading replies...