Lowell, MA Buy and Hold

[Joshua Poitras]

Investment Info:

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

Purchase price: $441,000
Cash invested: $20,000

An off- Market deal picked up from a friend at a good price. Bought with updated units and a very easy property to take care of.

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

Offered by a friend at a really good price.

How did you finance this deal?

FHA First Time Home Buyers Loan

How did you add value to the deal?

Evicted a drug dealer.

What was the outcome?

Cash Flowing Property $1,500 a month

Lessons learned? Challenges?

Pay attention to bubbles in drywall. Its a sign of water. Had to replace a wall because it took a year to evict the tenant and they wouldn’t allow access.