I just got some news on another 12 Suite building that sounds interesting. I am currently waiting for the actual expenses and rent rolls to arrive, but things look good initially.
Here is some of the information that I have gathered about the property thus far:
6 â€“ 2 BDRM ($485)
5 â€“ 1 BDRM ($435)
1 â€“ Bach. (caretaker lives here)
Built in 1977
Stucco with a brand new Gable Roof
Asking $269,000 and taking offers
No Mortgage â€“ Clear Title
Owner: is a contractor and builder.
Bought it cheap for cash because the roof was leaking and the owner lives in California and just wanted out. He renovated the place with a new roof and other repairs and now is selling it.
I am also trying to find a partner for one of the franchise operations that I would like to own. I spoke with the franchise representative and they are excited about the prospect of coming to the community and are willing to work with me if I can secure the financing. This means finding a money partner for the project.
I have put off any stock trading, pending more time to dedicate to research and better market conditions.
The fitness center will come to fruition in the first part of August, with or without a new location.
Please keep reading for further updates as I try to accelerate my financial freedom process!