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Updated over 6 years ago on . Most recent reply

Janet Leary's profile image
Janet Leary's profile image
Janet Leary
  • from Sherman Oaks, California
  • Member since Aug 3, 2008
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Janet Leary's profile image
Janet Leary's profile image
Janet Leary
  • from Sherman Oaks, California
  • Member since Aug 3, 2008
Connect
Janet Leary
  • Sherman Oaks, CA
1
Votes |
7
Posts
Starting Out

What should I ask investor who offered to sell me a rental in TX?

Janet Leary
  • Sherman Oaks, CA
Posted

A friend and long-time investor offered to sell rental house in Marlin, Texas to me. He will arrange to have his long time property manager manage it for me for $50/month. We both live in Los Angeles. This would me my first deal. The price is $60,000, the rent is $700. He said he gets 14% ROI. What sort of information/paperwork should I ask from him to help me decide if I want to do this?

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