Buy and Hold Multi-family Investment

[Aaron Steeves]

Investment Info:

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

Purchase price: $180,000
Cash invested: $5,000
Sale price: $245,000

108 Daniels was originally intended to be a buy and hold, however we were made an offer we could't refuse by an investor in an adjacent house. During the hold period, we were netting around $900/month with minimal income, and we sold the property for a roughly $60,000 profit on top of that.

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

Great condition, larger 1st floor storage.

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

This was a word of mouth off market sale

How did you finance this deal?

Wells Fargo investment mortgage

How did you add value to the deal?

Very small repairs, we profited basically just because there was a rapid increase in the market.

What was the outcome?

$60K profit + 2 years of rental income averaging $900/month

Lessons learned? Challenges?

Sometimes you just get lucky

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

No