Residential Four Family

[Tom DeCarlo]

Investment Info:

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

Purchase price: $212,000
Cash invested: $60,000

Fully rented 4 family. Vinyl sided, young roof, stable tenants and great location just 1/4 mile from town.

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

Cash on cash return was extremely strong, location is solid and tenant history is above average

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

MLS - I waived my inspection, keep the tenants in place and offered a 30 day closing.

How did you finance this deal?

15 year Fixed, 25% down conventional loan.

How did you add value to the deal?

I waived the home inspection, put down a larger initial deposit and offered a quick closing.

What was the outcome?

We closed after roughly 60 days because the seller needed to settle some minor probate issues. All good.

Lessons learned? Challenges?

Nothing particular on this deal. But I have the advantage of being a Licensed Broker.

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

I’m a licensed Broker in MA, and my girlfriend is licensed in MA, RI and CT.