2 Family. First investment many years ago.

[Michelle Reid]

Investment Info:

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

Purchase price: $265,900
Cash invested: $50,000
Sale price: $300,000

Worked well as a live in income property. VERY badly as a pure income property. Bleeding money towards the end. The rent just didn't cover costs.

Lessons learned? Challenges?

In my market, for residential income, a three family is the minimum # for good cash flow. This was only a 2 family. Our rents were too low.