WOLLASTON WEDNESDAY #30: How 25 Apartments for $300,000 Is A Loser Of A Deal

We recently underwrote and turned down a deal in Holyoke, MA this past week. The numbers initially seem almost too good to be true, but I can assure you they're not. Let me explain how this project could be a bankruptcy attorney's next deal. haha An attractive 25 unit, 4 story building was brought to us. It was for sale for $300,000!!! How can this not be a winner! It had a small fire and was condemned by the city which immediately means it needs a lot of work. One thing we've learned through the permitting process of our commercial buildings, is that building departments are much more strict and thorough than they were before. Even for minimal renovation projects, building departments are d

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Wollaston Real Estate Investments

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