All Forum Posts by: Michael Chadinha

Thanks for the advice.  I have re evaluated the deal as a longterm buy and hold with a conventional mortgage.  I know in my market this is a great price I just need to find the way it works the best.  It does cash flow nicely but more so it will quickly gain equity as property values are quickly elevating in the area.  Just needed to find the right approach.  I attached the re eval if there's any interest in checking that out.  Now back to finding the financing:) 

https://www.biggerpockets.com/calculators/shared/908646/ce956edc-8407-4a11-875a-a023d829b90f

Hey everyone!

I live in a small but growing Southern New Hampshire town and have been negotiating with the owner on the purchase of this 3 unit building. Since I just purchased my first (a 4 unit building) only 1 year ago through a traditional bank loan I am looking for other financing avenues on this one as to avoid the red tape and possible decline from the bank. Seems like a good candidate for the BRRRR strategy as the asking price is $52 under assessment and she's an old building that could use some updating.

This property is not on the market yet and I want to strike while the iron is hot.  Check it out, let me What you guys and gals think.  Cheers!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

No Complications.  Even for its age the house inspected well and the numbers all made sense.  The bank was a little confused that being a renter myself that my first real estate purchase was an investment so they made me go through a first time home buyers course which I wanted to do anyway.  Would love if they all end up like this one but I'm not naive enough to think that will happen.

Hey everyone, My name is Mike and I live in the great little town of Peterborough, NH.  I closed on my first fourplex on 4/1/17.  This building was built in 1890!  Initially, the idea was to purchase this one building  for long term investment as well as added monthly cash flow.  I've since become obsessed with idea of doing this "full time" and I can't say enough about how great of a resource BP has been.  In the 8 months we've owned it I've renovated 1 apartment, changed over tenants in two units, built a porch and learned a whole bunch of necessary home maintenance.  The building is cash flowing nicely and I'm thoroughly enjoying learning how to become a good investor and landlord. 

My goal is to purchase "buy and hold" single and 2-4 unit multi families at first as I feel these have the best initial cash flow and are easier to digest.  Down the road I am certainly interested in possibly doing some flipping and purchasing large apartment complexes.  I would love to partner on the right deals and find private money investors to work with as well.

I look forward to sharing what I learn along the way as well as picking up some great tips from you guys.  Cheers!

-Mike

P.S.  Figured I would add a picture of the old girl:)