My Rich Uncles

My Rich Uncles Got Me Into Commercial Real Estate

Gen Y Finance Guy Real Estate 40 Comments

For the past six months, we had been thinking that our next big move would be to pick up a 2nd rental property. We were pretty set that we would do this sometime between September of 2015 and March of 2016. Living in Southern California, we were looking at investing in something with a price tag between $200K and $300K. This price range would require a down payment between $40K and $60K (assuming 20% down). Then you have closing costs which I would estimate at another $3,000, which is a bit on the low end, but that’s because we have friends and family in just about every step of the real estate transaction. In order to make this happen on …