Long-term rental to increase passive income

[Chris Fernandez]

Investment Info:

Single-family residence buy & hold investment in Orangevale.

Purchase price: $90,000
Cash invested: $10,000

Bank owned property I purchased to turn into a long term rental.

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

Rental income to increase my passive income.

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

It was bank owned so not much negotiation.

How did you add value to the deal?

Remodeled the place to add increase rent which I did everything most everything myself, and subbed out parts of projects I wanted to leverage a pro for.

What was the outcome?

Good monthly income

Lessons learned? Challenges?

Maintaining increases in rents as value of rents go up to stay true to market.

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

Tony Gallegos of new vision, top notch person to work with when it comes to investment properties.