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38 Years in Apartment Real Estate

by Reginald C. Fenton

138 pages; quality trade paperback (softcover); catalogue #02-1020; ISBN 1-55395-305-3; US$18.95, C$29.56, EUR19.30, £13.40

How I mined gold in apartment houses and you can too!

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about the book      about the author      sample excerpts      catalogue info

About the Book I quit my job at 43 to write my own paychecks and maintain and manage my rental properties. This book describes how I started with almost nothing and reached my goal in 11 years, which was to be financially independent. I did this by investing in older style apartment buildings and stores in Seattle, Washington. You will see many pictures of buildings I bought, how I operated, maintained, improved, and sold some. Many anecdotes and examples are presented. Also pictures of my rewards along the way. You will learn what I think "money makers" are: why, where they are, and how I bought them. Many tips, maintenance and repair techniques are described. You will learn the same opportunities are here today in every city in the United States if you buy right. It's been my life for 38 years and it's been fun and rewarding.

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About the Author Author started with almost nothing and became financially independent in 11 years. He quit his day job at 43 to maintain and manage his stores and apartments.

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Sample Excerpts

A hands-on apartment owner covers it all: what money makers are,where they are, why to buy them, how they are found and purchased. This book includes: maintenance, repairs, house rules, policies, many anecdotes and examples, tips and techniques, inspection criteria, 1031 exchange, drug abatement threat, tenant screening, raises, evictions, etc.

I saw a 2-line ad in the Seattle Times, which read "Wallingford-10 unit by owner,$90000, $25000 dn"etc. I met the owner who was wearing coveralls and had 3 earnest monies hanging from his shoulder pocket. After inspection I told him I liked the building, and that his price was fair. I had the down payment saved and wanted to buy it. I asked if we could get together the next day to sign an earnst money as I had just rented a 75-lb jackhammer and had work to do that day.The next day we signed a earnst money for $90000, $10000 down, $625 monthly, 7% interest. I was able to negotiate a smaller down payment because of pending Housing and Fire Code work. The day before he had seen the jackhammer in the back of my old station wagon, so after signing he said " a guy with a 75-lb jackhammer in the back of his wagon is the kind of guy I want to sell to". The deal closed 3-weeks later.

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Catalogue Information

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