My 1 bedroom appartment

[Robert Montanaro]

Hi from Orange County. I would like to share this story with all of my community members at bp. I own a single home witch my wife and I live in. Half the basement was finished, the other half had a 1 car garrage and a work area. One day my oldest son said he wanted to rent his own apt, he was renting a room from his cousine, so I said that I would make the area in the basement were the garrage was a one bedroom apt for him. After thinking about it he said that that would be good. My wife and I thought it would be good for us having him around to help us out to. So I go to all the town meetings to get approvel, get all the permits and all the building codes I need to get started. I have a friend thats a contractor and another friend who's son-inlaw is a plumber and through him I got to know a good electrical company. So I was set to get started. My youngest son was in the millitay so I was able to get a nice discount on materials. Well, and here it comes, about halfway through the prodject my son comes home from a trip to Florida and tells my wifr and I that hr meet a nice girl down there and wants to move there. You could only imagine what we tought, here we are with all this money ivested in this apt for our son and now he not going to be living in it. So I told my wife we have to finish it we are to far into it to stop and it would make no sense to have this space just going to waste. So we finished it and it came out really nice. We had a nice 1 bedroom apt, about 650 sq. ft. downstairs that was finished and ready to live in. We never wanted to landlords, espeically in our own home, so we said that at least we increased the value of our home by making it a mother-daughter. After about two months have gone by we talk and said lets se if we can find a good tennent and see what happens. We were nervice because we were going to have a stranger living in our home. We posted an add on craigs list and got 43 requests to see the apt. We choose a single female,27 years old, that had a good steady job and was also attending collage She has been living here for 3 months now and has been a great tennent. Plus we have a nice little income coming in every month to help pay the expences on the house. Well this is my first success story in reakestate investing. Thank You for your time.

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