Accidental Landlord, Bakersfield, CA
Investment Info:
Single-family residence buy & hold investment in Bakersfield.
Purchase price: $85,000
Cash invested: $5,000
Sale price: $299,000
Purchased NEW in 1992. Got divorced in 1994. Became 'accidental landlord' due to the property being underwater or close to underwater. Was a rental for 10 years to same tenant. Sold at ALMOST the top of the market, before the crash.