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About long beach

By: bigballss

My first investment ( other than my house) was a fourplex on Cherry Ave in Long Beach. Happened by accident. I loaned a guy $10000 on a 2nd mortgage. He paid me on time but defaulted on the first mortgage. After negotiating with the guy, he agreed to take $5000 and leave the property to me. It was worth about $250k and he owed $239k but the rents were awesome. Right after I bought it l, real estate took off. I made 400k profit before taxes, and I was hooked. Good times.
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