2 Family Excellent Rental Property

[Gary Robert Burnham Jr.]

Investment Info:

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

Purchase price: $310,000
Cash invested: $93,000

Very excited to announce my wife and I added 2 new units to our portfolio in South Windsor CT and have 2 great tenants in place.

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

The property is in an excellent location with great school systems and excellent tenant base.

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

I found it on the MLS and submitted an escalating clause up to a certain price.

How did you finance this deal?

Conventional financing

How did you add value to the deal?

I closed this loan within 30 days because of our mortgage firm that I now work with.

What was the outcome?

very nicely cash flowing property for our portfolio with excellent tenants.

Lessons learned? Challenges?

thorough inspection required before signing at closing. do not miss anything.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

yes I worked with real estate agent and a lender Right Step Mortgage. I now work with them.

[Gary Robert Burnham Jr.]

Hey Brent yes I basically over paid for it but with the rents in place the place still cash flows significantly so I really dont pay much attention to the price if I can get 15% on my cash.  I have several in West Hartford as well and love talking real estate.  text me anytime on my cell to connect happy help you with your deals.