Hi Everyone,I’m investing in an essentially turnkey (it was a flip) MFH in Woonsocket, RI and wanted to get your take from anyone who has experience in the city.I know the city has a bit of a reputation, but it’s in the Fairmount neighborhood that tends to be quite good.

I think the podcast lost its DIY element.

I met with Wicked Smart today and was told they help you set up a lead sourcing system, help you structure creative financing - which is essentially lease option/purchase, subject to and owner financing....all strategies I am interested in learning more about.

Which essentially means you only put down 2.5% down on multi-unit.

From around 2018, when the golf course closed, until 2021 local residents essentially used this giant open parcel of grassy land right in the city as open space.

However, there are other loans designed for fixer uppers referred to us hard money loans, bridge loans, or fix and flip loans but whatever you want to call them they're essentially short term, interest only loans with no prepayment penalties designed to finance a higher % of your purchase price and typically all of your renovations not to exceed a certain % of the ARV (typically 75% max). 

Here’s what CCC looks like when applied to large multifamily properties:Key Elements of CCC1.

Here are some top amenities that have proven to offer excellent ROI:High-Speed Wi-Fi: This is essential for both leisure and business travelers, especially in today’s remote work culture.

Many properties will need specialized attention, especially with plumbing, electrical, and historical elements. 

I plan to refinance in two to three year once rates come down a bit.That said, I need to be very confident in my numbers on the hotel, since I'm putting risk on my other properties and essentially wiping out their cash flow.Happy to connect.