4 Units Fitchburg MA

[Todor Ialamov]

Investment Info:

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

Purchase price: $392,500
Cash invested: $98,125

Four Family - Three 3/1 and One 1/1. The three bedroom apartments were updated but the basement one bedroom one was stripped down to the studs in need of a full rehab.

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

Great price. Large deleaded apartments. New heating systems, windows and roof.

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

MLS. A client of mine wanted to see the property. It was not a good project for him, but I liked it. Found out from one of the tenants that they only had two parties seen the house. Made an "optimistic" offer and was able to purchase it.

How did you finance this deal?

Conventionally + private money for the rehab

Lessons learned? Challenges?

When you are an agent and investor you could potentially benefit from every property for sale by either helping your client buys it (always priority) or add it to your portfolio.