SanDiego Condos strange counter offer

[Erik Duke]

Investment Info:

Single-family residence buy & hold investment in San Diego.

Purchase price: $135,000
Cash invested: $30,000

Condo in San Diego first rental without living in it and buying 2 units 1 site unseen at least the inside.

What made you interested in investing in this type of deal?

I called the realtor listed several times but finally gave up. About 4 months later the realator called me back and gave me the specifics.

How did you find this deal and how did you negotiate it?

The crazy part of this deal was I was looking at one unit and placed an offer the counter was to buy the unit above site unseen. I took the leap of faith and bought both.

How did you finance this deal?

Money from my first rental property

How did you add value to the deal?

Had to buy both units

What was the outcome?

I still have the one I bought site unseen and sold the other about 18 months later

Lessons learned? Challenges?

When I sold one of the units did. It understand capital gains and what happens in the state of California.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes