Newbie purchasing townhome in Lacey

[Ramesh Seshadri]

Hello,

I am first time investor and am looking at purchasing a townhome in Lacey. The property doesn't cash flow today so I am looking at a few options (suggestions/ comments welcome)

- put down 30% to reduce rates and avoid points - the rest will come through traditional loan options

- self-manage the property - any tips/ checklist on doing that - find/ screen tenants, rental agreements, collect rents, maintenance folks (I will be over 3 hours away so won't be able to address any issues).

- the townhome is in great condition with all of the appliances in it (fridge, washer/ dryer etc.) - I would like to offer this to people in JBLM. what is the best way to publicize the property to those folks?

Thanks for all the help,

Ramesh

[Michele Fischer]

Hey Ramesh.

I would never try to self manage a property three hours away if you don't have closer boots on the ground that can do some showings or run over to the place for various reasons.  I know people do it, but that isn'w where I would scrimp.

Good luck!  I feel like WA is harder and harder to operate at all, much less profitably.