Question on Lakewood, Tacoma rental

[Smita Rahatadkar]

Hello all

I found a potential new construction property in a Lakewood, Tacoma area. Zip 98499.

It's 3 Bedroom 3 Bathroom 1700 sq ft. I have a hard time guessing the rent for this as I didn't find any comparing properties.

I would love your help on following questions:

1.What do homes like these typically rent for in this area?

2. Where do you get the leads from when the property is advertised on craigstlist, zillow and apartments?

I am an investor in Seattle and usually Zillow and Craigslist have been super useful to me. Would love to know if it's the same case in Lakewood. Do people usually follow the "For Rent" signs? or will I have to use Property management company to get tenants?

Appreciate your response!

[Jeff Chorath]

It will depend on which area of Lakewood your property is located in because there is quite an income disparity between neighborhoods in Lakewood. For instance, a home near Gravelly Lake will generate much more revenue than a Lakewood home east of I-5. Nevertheless, Lakewood is good long-term investment, especially the Towne Center area.

You will have no issue finding tenants. I recommend doing it yourself by using Craigslist/Zillow. Just be prepared to go through a lot of applications, because finding quality tenants may be a challenge.

Fyi, I used to live in Lakewood and I still have a property there.