All Forum Posts by: Tyler Fournier

Investment Info:

Single-family residence buy & hold investment in Old Orchard Beach.

Purchase price: $280,000
Cash invested: $15,000

Condo located close to the beach on a golf course. 3 Bedrooms and 3 bathroom.

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

I originally walked through one of these condos as a potential place for myself. Close to the beach, located on the golf course, condo unit is spacious

How did you find this deal and how did you negotiate it?

I wrote a handful of owners within the complex to the particular units I would be interested in living in. I emailed back and forth with a couple of the owners. This particular unit the gentlemen passed away a month before. His nephew that lived out of state was selling.

How did you finance this deal?

I financed this deal as a conventional 5% down primary residence.

How did you add value to the deal?

The only thing I have done so far is repaint the entire property. I do plan on redoing the kitchen and all the bathrooms.

What was the outcome?

Looks great!

Investment Info:

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

Purchase price: $220,000
Cash invested: $6,000

4 unit property all with 2 bedrooms and 1 bathrooms. C class property in a gentrify area.

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

What drew me to this property was having all the units under 1 roof. The property is small enough so it is very easy to manage and cashflows. This Apartment building has a ton of upside with small renovations to the kitchen and bathrooms. The city is gentrifying and values are on the rise.

How did you find this deal and how did you negotiate it?

I found this deal on the MLS. The property was under contract when I first reached out to the listing broker. I was working with the same broker on another deal when he notified me this property's contract was going to fall through. I was able to negotiate on behalf of myself because I am a licensed broker and we came to terms before the property went back onto the market

How did you finance this deal?

I financed this deal as a FHA 3.5% down primary residence

How did you add value to the deal?

I plan on replacing the cabinets, counter tops, new bathroom and appliances.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was the real estate broker in this transaction. The nice thing about representing myself was the commission I earned almost covered the closing cost.

Investment Info:

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

Purchase price: $203,000
Cash invested: $5,500

4 Unit property all with 1 bedrooms and 1 bathrooms. C class property in a gentrify area

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

What drew me to this property was having all the units under 1 roof. The property is small enough so it is very easy to manage and cashflows. This Apartment building has a ton of upside with small renovations to the kitchen and bathrooms. The city is gentrifying and values are on the rise.

How did you find this deal and how did you negotiate it?

I found this deal on the MLS. It was pending when I came across them but was working with the listing broker on another property. When the deal fell through he notified me. We were able to negotiate and come to an agreement before the listing went back onto the market.

How did you finance this deal?

I financed this deal as a FHA 3.5% down primary residence.

How did you add value to the deal?

To add value to this property I plan on redoing the cabinets counters and new appliances.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I representative myself during the deal. The nice thing about that was the commission I earned as playing the role of the selling broker almost covered the cost to close on the property.