Buy & Hold in Pittsfield, MA

[Erik Quinson]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $325,000
Cash invested: $90,500

8-unit multifamily in Pittsfield. Mix of section 8 and standard tenants. Off-market deal I acquired through networking with agents, property managers and other investors.

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

The cap rate and cash-on-cash were very appealing. I saw an opportunity to increase the in-place rents on the non-Section 8 tenants.

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

Through the local network.

How did you finance this deal?

Commercial Loan. 20 year term.

[Sean T.]

Hey congrats! 

How are you handling PM for the property?  I'm assuming from your location you are in NYC.