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All Forum Posts by: Thomas Young

Thomas Young has started 2 posts and replied 4 times.

Rhode Island Real Estate Q&A Discussion Forum

Post: Rhode Island Commercial Lending

Thomas YoungPosted
  • Posts 4
  • Votes 1

Just an update with this, I was going to go with Rockland Trust, but the seller wasn't getting me the things I needed quick enough so it fell through with them, ended up going with BayCoast bank who was very easy to work with !

0 Votes
Rhode Island Real Estate Q&A Discussion Forum

Post: Rhode Island Commercial Lending

Thomas YoungPosted
  • Posts 4
  • Votes 1

Thank you! I will reach out to them!

0 Votes
Rhode Island Real Estate Q&A Discussion Forum

Post: Rhode Island Commercial Lending

Thomas YoungPosted
  • Posts 4
  • Votes 1

Hello all! I was wondering if anyone had any recommendations on a commercial lender in Rhode Island, more specifically for a property I'm looking to finance in Providence. 

Thank you in advance!

0 Votes
Real Estate Deal Analysis & Advice

Post: Newport Triple Decker

Thomas YoungPosted
  • Posts 4
  • Votes 1

Investment Info:

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

Purchase price: $405,000
Cash invested: $100,000

A triple decker near the heart of Newport. 9 bedrooms and 5 bathrooms. I bought the multi family and lived in one of the units while fixing it up and renovating and have since been doing the same with others. With my improvements I have been able to increase my rent from $3,800/ month total to about $4,800/month.

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

The low cost, potential, and location.

1 Vote