Carpenter · Plympton, MA · Member since 2011 · 9 posts · 4 votes
Great site. My wife and I have been looking for about 8 months to invest in multi's. Any thing worth investing in seems to be sold before its marketed. Cash flow #s seem really low. To get better cash flow should we expect rehab and rent.
John
Carpenter · Plympton, MA · Member since 2011 · 9 posts · 4 votes
15y
Mostly threw mls and a few brokers. We have one broker who has been a good teacher with multi's but I know we are not first on the list when a good deal comes in. We have done a few auctions.
(williams & williams is a joke) We also just joined a local REIA group.
Real Estate Investor · Hudson, NH · Member since 2011 · 76 posts · 25 votes
15y
Hi John,
First, Welcome to BP!
Regarding the Multi's, in our Massachusetts market it is very difficult to find move in ready residential properties that cash flow from an investment standpoint. Retail buyers don't worry about the cashflow and buy them up, even at a loss.
I started by doing just what you suggested, buying a 4 unit rundown property, rehabbing, and then renting it out.
If you are comfortable with commercial 5+ units, I bet you could find something that cash flows much easier. You should be able to find a property with a 10% cap rate that gets you what you are looking for.
Carpenter · Plympton, MA · Member since 2011 · 9 posts · 4 votes
15y
Originally posted by Dan Schemerhorn:
whats is your investment strategies? Can you do any rehab?
Dan Schemerhorn
I'm a framing contractor by trade with a builders lic. My only problem with rehabing is that I'm use to framing high end houses. I don't know if I would be cost effective. As for investment strategies we started out looking for monthly cash flow but we are open to flipping.
Residential Lender · Plymouth Meeting, PA · Member since 2011 · 3 posts · 0 votes
15y
Finding a realtor that has access to Fannie Mae foreclosed properties is a good place to start. Becareful with buying properties with structural repairs - it will be harder to get financing and more difficult to project your net profit.