Rental property or being lender short term!

[John Purpura]

Investment Info:

Large multi-family (5+ units) commercial investment investment in Lowell.

Purchase price: $180,000
Cash invested: $40,000
Sale price: $950,000

Designed and built 8 unit apt. Build.Also Rooming houses, small multi , singles, condo conversion.

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

Was engineer 22 years wanted out! Borrowed $20,000 -$7,000,000 6 years later!

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

Abandoned building

How did you finance this deal?

Local bank

How did you add value to the deal?

Single to 8?units

What was the outcome?

Left engineer to full time landlord last 38 years!

Lessons learned? Challenges?

Go slow calculate risk, costs, income, cost of money, renovation cost + time to finish get it operational with cash flow!!

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

Yes, yes, yes!