Multi-family Investment 2

[ToRena Webb-Thomas]

Investment Info:

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

Purchase price: $159,000
Cash invested: $49,000

4 units, 2 2-bedrooms, 2 1-bedrooms

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

I kept reading about building an investment portfolio. I wanted to start one.

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

The same owner was selling two houses right next to each other.

How did you finance this deal?

15 year fixed.

How did you add value to the deal?

Rents hadn't been increased in years.

What was the outcome?

Cash flowing.

[Ian Maxwell]

How are you finding the rental market in Springfield? Any difficulties filling vacancies? I am in Boston and looking to invest in multi-families elsewhere in the state.