All Forum Posts by: Bill Couture

Investment Info:

Large multi-family (5+ units) commercial investment investment in Plainfield.

Purchase price: $760,000
Cash invested: $10,000

74 unit self-storage facility with a single family house that was mismanaged from the prior lessee. Occupancy of the facility was only 50% at lease signing. My wife and I have a lease-purchase agreement with a 10 year option to purchase. www.norwichroadstorage.com

Investment Info:

Large multi-family (5+ units) commercial investment investment in Putnam.

Purchase price: $2,100,000
Cash invested: $50,000

200 unit self-storage facility, 6 commercial office units and 3 apartments located in a refurbished textile mill. My wife and I have a lease purchase agreement with an option to purchase at year 10. Seller will hold a note at year 10 until year 20 when we refinance into a commercial mortgage. Value-add opportunity with ability to increase rents and improve utility efficiencies.

Investment Info:

Large multi-family (5+ units) commercial investment investment in Plainfield.

Purchase price: $760,000
Cash invested: $10,000

74 unit self-storage facility that was mismanaged from the prior lessee. Occupancy was only 50% at lease signing. My wife and I have a lease-purchase agreement with a 10 year option to purchase. www.norwichroadstorage.com

Investment Info:

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

Purchase price: $81,000
Cash invested: $50,000

Vacant and distressed four-family purchased off of auction.com. I was able to use private financing to fund the purchase and I was awarded a $120,000 grant from a local housing agency to remodel the building. I'll need to spend $50,000 out of my own pocket for rehab costs over and above the grants funds. I'll use a business line of credit to fund the $50,000 and I'll refinance into a 30 year fixed rate residential mortgage when it's fully rented in Spring, 2019..

Investment Info:

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

Purchase price: $81,000
Cash invested: $50,000

Vacant and distressed four-family purchased off of auction.com. I was able to use private financing to fund the purchase and I was awarded a $120,000 grant from a local housing agency to remodel the building. I'll need to spend $50,000 out of my own pocket for rehab costs over and above the grants funds. I'll use a business line of credit to fund the $50,000 and I'll refinance into a 30 year fixed rate residential mortgage when it's fully rented in Spring, 2019, paying off the private lender and my business line of credit.

Thanks @Andrew Syrios! I always appreciate the content you post on BP. The ARV will be $175,000. The town the four-family is located in has a bunch of similar four-families and they pretty much all appraise the same. I'll have to leave $6,000 - $8,000 in cash invested into the deal when I execute the BRRRR refinance but I'll be happy to have a 30 year, fixed rate residential mortgage.

Investment Info:

Large multi-family (5+ units) buy & hold investment in Moosup.

Purchase price: $220,000
Cash invested: $50,000

Five-family purchased using conventional commercial financing. Value-add opportunity to increase rents $75/month/unit. Located next door to my 12 unit making management a breeze and gaining economies of scale.

Investment Info:

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

Purchase price: $135,000
Cash invested: $5,000

Four-plex purchased with seller-financing. Value-add opportunity by having the ability to increase rents by ~$100/month/unit. BRRRR strategy will be used to refinance into a conventional 30 year fixed rate mortgage in my own name after 12 months of ownership.

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $55,000

Six-unit commercial building with only one unit occupied. Purchased from a local bank out of their REO portfolio. The plan is to convert a commercial space to a three bedroom apartment, rehab and rent the other commercial units and build-out a self storage facility in the 4,000 SF walk-out basement.

Hi @Yvon N.  I'm one of the rare Quiet Corner investors that is also on BP! Feel free to reach out to chat.

@Jaclyn P. @Dan Ryan @Mark Skaff. Hey guys. I'm happy to discuss conventional commercial financing options in Eastern CT with you guys. I'm a commercial loan officer and most of the deals I do are small multi-families in Eastern and Central CT.

Thanks! -Bill