All Forum Posts by: Brett Merrill

Investment Info:

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

Purchase price: $408,000
Cash invested: $40,000

Another house hack, but with a twist! This one I did not house hack for a low down payment. I house hacked to live for free while doing doing all of the repairs the property needed after closing. For this deal I used seller financing. The property is a beautiful building in a very popular part of town. The seller was a passive investor that had no want to manage the property and was sick of all the headaches. The terms of the seller financing were outstanding. He held a second for the 15% down payment at 4% APR and a 10 year balloon. I provided the other 5% of the down payment. When I purchased the property the rents were $1000, $1200, $1200 and $1400 for a total of $4800/month. After closing I spent about 2 months completing the minor/moderate repairs for approximately $10,000. These repairs allowed me to increase the rents to $1300, $1500, $1500, $1800 for a total of $6100/month. The property has already significantly increased in appraised value and should be able to be refinanced to pay the balloon in no more than two years. Even with the seller financing and conservative numbers for R&M/Cap Ex the property averages 35% ROI and $1600/month cash flow. I found this to be an excellent learning experience with seller financing which lead to a great deal. I certainly plan on using seller financing again in the future.

I am a Real Estate agent and investor in the Greater Springfield area here to help any new or experienced investor find their first/next successful property.I know when I first got started it, my first barrier was the inability to find an agent that was also an investor. It takes an agent familiar with investing and knowledge of each specific strategy such as flipping, buy and hold, and BRRRR. Please feel free to DM me or call at 4138138240. I look forward to speaking with you.

- Brett Merrill 

Hello BP,

I am a multifamily investor from Massachusetts. I recently have been building a partnership and team in the College station/Bryan Texas with a strong interest in San Antonio as well. I am looking to speak with hard money lenders out that way. If you are or know and good HML's please feel free to message me and let me know, I would love to talk more. I appreciate the help!

@Randall Lima Would love to hear what type of deals you have going on. I am an investor from the western Massachusetts area but I am always looking New opportunities and connections. Please feel free to DM me with any info

Hello BP! Im looking for a great buying agent in the Phoenix area to assist my family member in buying a SFR/Condo in the Phoenix area. Please respond here or DM me if your or someone you can recommend is interested. Thank you.

Thanks for the motivation! I actually am thinking the same thing. I'm using seller financing on the deal I'm closing on now and plan to continue such deals in the future. My plan is to talk to good PM's in the area who might let me know if there is a client that plans to sell one of their larger buildings. Any other suggestions for locating apt complex deals? 

@Justin Kane That is definitely the plan. I figured I would try to build slightly more capital using my current cash flow as well as equity through a few BRRRR methods to allow for a larger purchase with some seller financing. Goal is for 30+ units by 31. Im at 8 and have 1.5 years to go.

Hello everyone. I will be closing on another four Plex which Runs great numbers however I am thinking about switching up my investment strategy. My last two places have been house hacking which has worked very well. However, I am looking to scale faster and start to build a little more net worth and would like to start using the BRRRR strategy. I am looking to connect with a great wholesaler in my area that invests in the Hampshire in Hampden county area of Western Massachusetts. Including Springfield, Ludlow, Chicopee, South Hadley, East Hampton, North Hampton, etc.

I just had an interesting experience that I figured I would write a quick post about. I am a buy-and-hold investor however I decided to get my real estate license as well on the side. I have been doing pretty well with lead generation However I decided since I am out on the road for my job I would call any for rent or for sale by owner sign. Just so happens that the first one that I called was a for rent sign and it ended up being a cash buyer in the area that was renting the single-family home out for students. After a short discussion I told him that I am also an investor and real estate agent. He gave me a quick description of the houses that he is looking for. One day later I heard of a house about to come on the market that fits his description and one day after that we had a full cash offer to purchase that was excepted. I’m sure most agents already know and do this type of lead generation but I guess I just wanted to Reiterate that you should just ALWAYS MAKE THE CALL you never know what it will turn into. This client is now going to be a frequent buyer and is a great connection to have.

@Gaetano Ciambriello Thank you very much for your response. I would love to talk more. Please feel free to send me a direct message with your info so we can connect.