High Cash Flow Rental in Gig Harbor, WA

[Jennifer Harder]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $258,000
Cash invested: $80,000

This was a home me and my husband bought and remodeled it. We use it as a rental and are cash flowing $2600 a month. The rental market is strong in the Gig Harbor, WA area.

What made you interested in investing in this type of deal?

I have been investing in real-estate for over 20 years and when I saw this home, I knew it had a ton of potential and didn't need a lot of work. It's in a great area, close to the best schools, across the street from my favorite park, close to top-rated hospitals which made it extremely desirable. It's also a rambler which people love the open concept and having no-stairs!

How did you find this deal and how did you negotiate it?

I saw it right when it came on the market, and I was able to articulate a strong offer by knowing what was important to the seller and I made it a very quick and easy transaction.

How did you finance this deal?

FHA

How did you add value to the deal?

I'm a realtor, investor, and a local expert so I knew this would make an amazing investment and a cash flowing property.

What was the outcome?

We have over $400,000 in equity and it make a really good rental property.