Updated over 5 years ago on . Most recent reply
My second rental apartment
Investment Info:
Single-family residence other investment in Garden Grove.
Purchase price: $80,000
Upstairs 2 bedroom & 2 full bathroom rental apartment, 855 sq. ft., w/big balcony in back & 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?
Was advertised in newspaper.
How did you finance this deal?
It was also a cash deal back in 1994.
What was the outcome?
Just like my first rental, still have it. Steady income all these 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.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
N/A