I bought a condo as an investment property last year in Encinitas.

I kind of went about my decision backwards in a way. Most people look at the cash flow first then the tenant…I wanted to go after a property that would attract a great tenant & cash flow. After I found the property I searched for a tenant that reminded me of myself 10 years ago because I do not remember any of my landlords or property managers having to chase me around for the rent. I learned the tenant first approach at an investment meeting with Ward Hannigan and it seemed to make sense although he does it a bit differently.

Of course there are horror stories out there, but I feel like the people with bad stories tend to be more outspoken than the ones with good stories where the investment went well. I know a lot of people that had it go well and you usually have to ask them about it.

I definitely took a big risk, but I can’t help but think I’m cash flowing about $500 a month and if it comes down to it I could find a tenant in a day if I lowered the rent $100. I intend to keep the rent reasonable so they never move…they probably will, but I’m hoping for the best. I do not know it all as I’m only 34, it might end up being a big mistake but I feel like that condo will be a monthly payment towards a college education for one of my unborn children one day.