My first rental property

[Alejandro C.]

Investment Info:

Single-family residence other investment.

Purchase price: $80,000

Downstairs 2 bedroom & 2 full bathroom rental apartment, 855 sq. ft., w/back yard & separate two car garage.

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

It was an auction.

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

It was thru a newspaper ad. Back in 1994 it was all cash.

How did you finance this deal?

N/A

What was the outcome?

Still have it, it's been steady income from may years.

Lessons learned? Challenges?

Due your due diligence before renting. Save and organize all paperwork related to the apt. Have separate and current copies/back up in separate safe place.