Worcester Traditional Buy and Hold

[Phil K.]

Investment Info:

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

Purchase price: $395,000
Cash invested: $100,000

Traditional buy and hold that was purchased off market. Currently working on upgrading some of the units while keeping existing tenants in the building.

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

Get my first deal under my belt! Moving from stock investing to real estate investing

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

Off market. Negotiated contract price after working with my agent.

How did you finance this deal?

Traditional investment loan at 25% down.

How did you add value to the deal?

I will be upgrading some of the units as they turn, there is a new city initiative that may allow 50k grants per unit

What was the outcome?

Cashflowing!

Lessons learned? Challenges?

The first deal will always be the hardest, even though this is a great cashflowing asset, I did miss some capex items which I am working with now.

[Timothy Lewman]

@Phil K. Good job Phil! Consider the missed items your tuition payment. Learn from your mistakes and move on.