2 family buy and hold in AYER MA

[Jonathan Bombaci]

Investment Info:

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

Purchase price: $205,000
Cash invested: $45,000

Small 2 family in Ayer with parking for 2 cars. Purchased the property fully occupied. 1st floor unit was In Great shape but the 2nd floor unit was ROUGH. The tenant had been there over 10 years and the place showed it. She was a boarder line hoarder but at least she collected clean stuff so it could have been MUCH worse.

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

It was a great price and a cash flowing 2 family is tough to find in MA

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

Was on mls and used condition of 2nd floor to get price down.

How did you finance this deal?

Commercial financing with local credit union

How did you add value to the deal?

Increase rent and 2nd floor unit moved out. Then updated apartment and rented for quite a bit more.

What was the outcome?

Great cash flowing 2 family