grabbed a nice 3 family at auction

[Robert Granara]

been waiting for a day like this for about a year...grabbed a large and good condition multi family at auction the other day...i show up for the auction and there were 4 potential bidders, the bank rep said he thought the auction would be postponed (like so many others)...so the other 3 bidders leave, i decide to stay...the auctioneer shows up 30 min late and they have the auction and im the only bidder...bang!

all auctions i've attended lately (probably about 100) there have been 10-20 bidders trying to grab multis in the Boston area, although this one was about half an hour north of Boston, still close enought and a good deal

will cash flow about $2K on this one once its up and running...will fit in nicely in my rental property portfolio

[Robert Granara]

yes i did...hard money @13% and 3 pts...i have to put $12K down...he's giving me a loan for $138K and $20K in rehab draw...all said and done i'm hoping to refi out with a comm'l note of about $180K...i'll be taking in $4K per month in rents