抛砖引玉-微型投资实例1: 两卧一厕的花园公寓

本着与个位大虾切磋交流的宗旨，这里列出一个投资实例。希望各位大虾能贡献自己的经验，为大家以后投资指条明路。

美中西部，中型城市，贰佰万人口。 低收入蓝领社区，但不是最差的。
卖方是 Fannie Mae。买卖中还学了一着： Fannie Mae 的房子不出Closing Cost。以前买银行的固定资产，都是银行出大部分，买方出很少。这次签合同时没注意，到签字时才注意到钱多了，可是已经不能改了。

这是一个花园式公寓，一个建筑里有四家。我买的这一家是一层。1000尺，花费二万，修缮一万，一共三万。
2 卧, 1 厕, 无地下室, 1 层, 1 微型边院.
在客厅里装了新胶合木地板，卧室是地毯，厕所瓷砖. 更换了所有的节能窗户和通往边院的推拉门。
每年地产税$1000, 保险$400, 管理费 $600, 公寓费 $780.

月租 $550. 租户是一个单亲妈妈。到09年12月就一年了。其间有晚交租金的几次，都很快补上了。目前正在争取把这个公寓以 Land Contract 卖给住户。请大家祝我好运。

感觉投资房产最主要的问题是管理公司。我很幸运碰到了一个尽心又诚实的经理。实际上，如果我不是先认识了这个经理，我都不会投资公寓。







Mid-Western low-end rental case study 1: A small 2br/1ba condo

In spirit of sharing details of investment properties with experts in this forum, here is a case that I know about. Hope people could share what they know, so we could compare where best to invest. In light of the Providence RI case, I will pay more attention to that city.
Midwestern city, less then 2 million population, under major unemployment pressure. Low-end neighborhood, though not the worst.
One thing I learned during the purchase: Read the contract. The seller was Fannie Mae. I assumed that all REO sales are same, where seller pays most of the closing cost. But it turns out that Fannie Mae has a clause that buyer pays all closing cost. Since I didn't catch it before signing the contract, it was binding. And I have to shell out ~$1000 for that mistake.
A 1000 sqft condo, cost $20K, needing $10K repair. Total invest: $30K.
Annual tax $1000, insurance $400, management $600, Condo fee $780.
New laminate floor in living room, new carpet in bedrooms, new ceramic floor in bath. All new windows, and new patio door to mini backyard.
2 bedroom, 1 bath, no basement, 1 story, 1 mini backyard.
Monthly rental $550.
One of the major problems in rental property is management company. I've had my luck with a good one. Indeed, I wouldn't be investing without knowing the management company before starting. Please share your story about rental houses and management.

(www.sunskitehomes.com)