Buy and hold in Springfield, Mass

[Marco Fontana]

Investment Info:

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

Purchase price: $365,000
Cash invested: $93,000

4 unit, 13 beds/4 baths (5, 4, 2, 2)

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

Strong ROI in this area, especially with Section 8 tenants. Found this place that needed some work done, but has lots of bedrooms and cost was similar to much smaller properties with minor improvements.

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

Found on MLS, got offer accepted below asking, and negotiated closing cost credits based on inspection

How did you finance this deal?

Conventional 25% down

How did you add value to the deal?

Planning to do minor renovations and raise rent by bringing in section 8 tenants