All Forum Posts by: Account Closed

My most recent purchase was in May 2016 and was of a 4-family near Sullivan Square (Somerville). Always have to buy right. Never overpay. Renovate in a way the generates a clear ROI. Pro forma cap rates need to be in excess of 8-9% for me to get excited.

 Buildings two through four all came through cashing out equity. I have not put in another dollar of my own capital since the first one. Managing debt efficiently and effectively has allowed me to grow my portfolio without contributing additional cash.

 Thank you David. Yeah it was great. But it's important to keep climbing and focusing on larger deals. So I think I'm good with the small stuff now. Forming a syndicate is the way to go.

 Thank you so much, sincerely appreciate it. I'm now focusing on larger 150+ unit buildings, hope to replicate this success on that scale!

And here are the before photos. It was pretty bad, but I like it because it allows me to add value!

Hi guys, wanted to share my story for some motivation.

I started investing in 2007 as a 23 year old. My portfolio consists of 13 units and the current annual cash flow is roughly $170k annually. Most of my units are in Somerville and Cambridge. I'm a Boston native (Yay Pats!). Since I was lucky enough to benefit from the real estate slump, I have built up an equity of $2.4mm in my properties. The total value of my properties is just over $7mm.

My partners have larger apartment complexes 288 units and 1,094 units and are more at a syndicate level. I hope to grow my portfolio over the next 5-7 years by investing in larger deals.

Attached are some photos from my property in Cambridge. Lot of work has gone into it. I will share the before photos later. 

I'm more than happy to answer any questions, share my story and help the community.