Want to get in the rental business?
What if I was to tell you that you can get in quickly and in a big way right now? Is that something you would be interested in?
About 7 years ago my brothers and I inherited a couple of commercial buildings on the Berryville square, just two units renting for about $700 total. We were able to get a line of credit of $60,000 against those which we used to buy a bunch more. Back then you could get 100% loans, so we basically just used the LOC to pay closing costs. Got up to 21 units, and our retired dad managed them.
Anyway, since Kings River Title expanded to Washington County and opened the Eureka office, I just don’t have the time to practice law and do my part in managing the title company PLUS oversee these apartments. Even though my dad manages them, there is still work involved on my part.
So I have 17 units in Carroll County for sale. One apartment with 4 units, 10 single family houses, and 3 manufactured homes. Most are 2 bedroom units, renting for between $350-600. At 100% occupancy, yearly income is about $80,000. I don’t recall having below 85% occupancy at any point.
If you’re interested, email me at email@example.com. I’ll sell them individually or as a package, and at a price that will cash flow. Might even owner finance with the right amount down depending on your credit.