25 Read 3 family Fitchburg MA

[Ryan Corcoran]

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $275,000
Cash invested: $35,000

3 Family property I was able to purchase from a local investor looking to unload several properties quickly. Looking for a property to house hack at the time. Lived in one of the three units while the mortgage waas completely covered by the 1st and second unit inherited tenants. I was able to purchase the property 50k under asking.

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

I ran a direct mail campaign using a personal letter I had created that I had sent to most small multi-family property owners in the surrounding towns. Will likely have several more deals soon from the same campaign.

How did you finance this deal?

Private money

How did you add value to the deal?

Light cosmetic rehab (flooring, paint, etc)

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

Peter Vaillancourt - Agent in Central MA. Waverly Property Solutions