buy and hold

[Lynn Tran]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $400,000
Cash invested: $120,000

In 2021 my in laws want to sell their house and relocate from Sacramento to San Jose, this gave us a great opportunity to purchase their property and help them relocate.

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

the affordability in Sacramento was great added to the fact that I could help someone in this case parents was a easy decision for me.

How did you add value to the deal?

It took a month or so to clean and fix what ever was broken. We did not spend tons of money on this house as we plan to add value down the line. It was good enough to have a rent.

What was the outcome?

first tenant was from hell, complete nightmare and I even questioned why I was doing this? when we finally got the nightmare tenant out I had hired a handyman to fix the damage and he ended up interested in the house. They are long term tenants and it is working out fantastically.

Lessons learned? Challenges?

vet vet vet. unfortunately buying into sobs stories did not work out for me and cost me 3k in legal fees just to get her out.

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

no agents just myself

[Lynn Tran]

Sorry for the delayed response lol when I came on to BP I didn't think anyone would notice my profile nor comment 

the deal was a simple assumption, in laws added me to title and I took over payments. I transferred some cash to them after.

@Carlos Villegas its been 2 years with the good tenants and they have been on time and we have great communication.Thank You for asking lol its also nice to be able to say that.

@Scott Scoville I really love the Sacramento area and my parents still live in Elk Grove it makes it easier to manage close by especially with good tenants. Ideally Id like to get into multi family space there in 2016-2017. Maybe our paths will cross one day Scott.