4 family in Lowell, MA

[Forrest L.]

Investment Info:

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

Purchase price: $415,000
Cash invested: $10,000

Owner occupied multifamily with four one bedroom units. Purchased vacant. I did floors and bathrooms in each unit and rented them out.

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

I wanted to own rental real property and need a place to live. This satisfied both.

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

Found on Zillow, made the first offer with the only contingency being financing

How did you finance this deal?

Mass Housing

How did you add value to the deal?

Renovated bathrooms and did new floors.

Lessons learned? Challenges?

Biggest challenge was finding budgeting my time. Lesson learned was that I enjoy and am good at placing tenants.

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

Jessica Tomlinson was my realtor. She is amazing!

[Forrest Owen]

@Forrest L. how'd everything turn out with cash flow? Is it cashflowing with you living there?