If you’re new to real estate investing, you’ve probably heard someone say, “run the numbers”. Sure, that sounds like a good idea, but how exactly do you do it?
Earlier this year, I helped a young investor make the jump from buying two-families to purchasing his first three-unit building. While that may not sound like an impressive feat, if you’ve spent time touring these types of properties you quickly notice the stark difference in caliber and quality as you move up in size.
Coined the “Spectacular Wedding Cake Henry M Brooks Cottage” by historian John Goff, 260 Lafayette St in Salem is nothing short of amazing. A stunning example of Gothic Revival Architecture, the building is simply one of a kind. High ceilings, paneled walls, gorgeous hardwood floors, diamond-paned windows, coffered ceilings, two fireplaces, and beautiful moldings are some of the original detail throughout.