Condo fix and rent Riverside CA

7 Replies

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $193,000
Cash invested: $20,000

Purchased a completely dated condo. Did all the renovation work by myself. Rented it out

2 bedrooms renting for $1600. I bought it prior to listening to bigger pockets so I am only bringing in $200 per month on top of actual expenses. The value is that I purchased for $193k and comps are already over $240k. 

Comps sold at $243,000 3 months ago. If I were to list it I would put it on the market at $250,000. I offered it to my tenants for $240,000 with an extra $5,000 towards closing. No dice because they want to buy a fixer.

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