Monday Money Maker - 10 Sept 2012 (Riverside County Hemet)

Since this is the first Monday Money Maker for this blog first let us go over what is the purpose which is to share with you the highest income generating property (stated based on the marketing agent) that has come on the market within the past 7 days and is still being actively marketed. To first tell you what  will not be posted here, you will not see anything that is longer than 7 days old, you will not see anything that has already came on the market and accepted an offer, and you will definitely not see anything on here that is based on the estimated rents (unless it is the only property listed that week).

For all of you that read the blog for Friday Finds or have known me over the years, I do not estimate value or guess based on some made up might get rents. In the event there is a multi unit that is partially rented then the lowest current rent will be used fort the basis of "after fully rented value".

That said, this week's Monday Money Maker is in the nice warm city of Hemet California. This is a single story duplex (2 unit) apartment building which is 100% occupied at some really nice rental rates. Both units are 2 bedroom which is my personal preference because they are generally the easiest to get rented in the event of a vacancy.

The lower of the two units is a two bedroom one bathroom renting for $725 per month and the other unit is currently renting for $750 and is a two bedroom two bath apartment. This building as 2 two car garages one attached to each of the units which is a great marketing point as that is highly desired from a renter.

With everything discussed above all you really probably want to know is how much is the Tim Taggett Value of this property. Well the true easy value I would give is $123,250 which is why this property does not have offers breaking down the owner's door however even if acquired at the offered price of $155,000 and a 20% initial investment the property would still cash flow roughly $260 per month with the current long term tenants staying right were they are at and a professional management company taking the late night phone calls.

There you have it, I have shared with you the best Multi Unit / Apartment building that is generating a steady source of income and at a decent price.

(S12112383)

Any questions or would like to discuss any investment property give me a call on my cell 760-500-7292 or send me an email at RetireEarly@gmail.com.

Happy Investing!

Tim Taggett

DRE# 01468188

REI Powerhouse

Darryl Self, Broker