4 Family House Hack Lowell, MA

[Forrest L.]

Investment Info:

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

Purchase price: $415,000
Cash invested: $16,000

Owner occupied multifamily with four vacant one bedroom units. I did floors and bathrooms in each unit, put coin operated laundry in the basement, and rented the units out. outside I had the old half of the roof replaced and a chimney removed. To fix the garage I repaired structural rot, rebuilt the foundation, and vinyl sided it. I also added a tenant patio area. 4 months later to the day I closed on a cash out refinance pulled out 55K in equity while lowering my interest rate.