11330 West Brentwood Circle, #C, Corona
2 bed, 2 bath – 1095 sq. ft. condo Purchased as an REO, 9/7/2012, $115,000, $71,250 loan
Was rented for $1,750 per month
Monthly expenses of $1,055
Cash flowed $695 per month
Sold for $256,000 on 4/24/2020
1031 to 9250 Olive Street, Fontana
3 on a lot (separate detached structures). (2) 2 bed/ 1 bath, (1) 1 bed/1 bath, 18,000 lot. $539,000 purchase price with $377,300 loan, 4.125% interest, no new money, closed 8/18/2020. +$8,000 initial repairs and leasing fees.
Currently rented for $4,600 per month
Monthly Expenses of $3,188
Current cash flow of $1,412 per month
At the same time Harold was actively looking for property he met with his lawyer and created a Living Trust in which he could title every new property interest he was acquiring. This allowed him to create a long term monthly cash flow which could easily be passed along to his children along with the tax benefits of a stepped up cost basis when Harold and his wife passed. He actually created a legacy of wealth.