27 Fernleaf Ave Longmeadow MA before
Our rehab at 27 Fernleaf Ave in Longmeadow MA is nearly complete.
This is an awesome stucco house that has big rooms and lots of square footage. It is 6 bedrooms and 2 1/2 baths spread over three floors of living space.
We’ll get it cleaned and staged this week then it will be for sale!!
Heres a look:
27 Fernleaf Ave For Sale
View from Front Door with Wall removed between Living Room and Kitchen
Fireplace in Living Room with Built in Window Seats
Same view but here you can see the Coffered Ceiling. We kept it dark for a nice Contrast
Living Room Archway, Center Staircase
Living Room looking towards Kitchen with Wall Removed and Archway
Kitchen w/ Cherry Finish Cabinets, Granite Countertops
Kitchen with Tile Backsplash and Tile Floors
Gourgeous Kitchen Aide French Door Fridge
Dining Room
First Floor Half Bath
Staircase
Second Floor Full Bath with Granite Double Sink Vanity
Tile Tub Surround with Glass Block Feature/ Jacuzzi Tub
Bedroom with Shiny Hardwood Floors
One Last Kitchen Shot!!!
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This home is gonna look really amazing once we get it staged.
Please pardon my ignorance Matt, but is the reason you decide to structure your deals through a Realty Trust vs. say owning real estate through Hampden Homebuyers LLC is because there are superior tax benefits and/or legal protection associated with the trust?
Hi Zac,
When Dominic and I got started one of our first “mentors” was really big into using trusts for holding properties and for asset protection, so thats how we’ve always done it. We can set up multiple trusts very easily to hold each individual property.
I think this works out better than having everything in just our LLC….. plus in MA LLC’s are expensive to set up and maintain and they take a couple weeks if you want to create a new one. We can set up a trust for free in about 30 minutes.
Thanks for the comments!!
Amazing transformation Matt and Dom! I know you guys have touched on Private Money Lenders & Self-Directed IRA’s to lend you purchase and rehab money in the past, but I’m just curious what the exact buying process is on a property such as this one. At purchase, do you close on the property under a trust and your private money lenders are given a mortgage through that same trust? Is the LTV ratio based upon research you’ve conducted of the ARV?
Hi Zac,
Our private lenders are given a mortgaged position secured against the property, just like a bank. We usually purchase in a trust and the mortgage is given to the trust.
The LTV of what we borrow is based on the after repaired value of the property. Usually we provide our lenders with a third party CMA/BPO establishing the ARV.
Thanks for the question and comments.
Let me know if you need any more info.
Lovely! Have you set a price yet?
Hi Melissa,
We haven’t set a price yet…. still need to do an updated market analysis on this one. I will let you know when we do finalize a price.
Thanks for the comments!!