Would love to see someone work a deal on one of these!

[Kevin E.]

While looking at local listings in the Portland, OR and Vancouver, WA area I found a couple that stood out.  As a new investor with a growing family and no down payment I figured I would pass these listings on in hopes of being able to tag along and see how a seasoned investor evaluates, lands, and manages something like this.

The first place is in Vancouver, WA and is listed at $124k.  In my research it looks as though similar units in the area fetch $1100 - 1200/mo rent.  The thing that seems a bit odd with this listing is the listed sqft.  The listing indicates a 2/1 1664sqft unit while public record shows 3/1.5 864 finished with 800sqft unfinished.  The similar rentals in the area are based off 2/1 864 sqft, is it possible to finish the basement and get 2 for 1 out of this?  Listing:

https://www.redfin.com/WA/Vancouver/2514-Franklin-St-98660/home/14566699

The second place is in Camas, WA where I currently live.  The unit is 3/1 $130k 1168sqft.  It looks like it can use some updating but the area is VERY desirable and this unit can get $1300 - 1400/mo and most likely bring in long term family tenants.  The school district is the best around and this is right next to a great park. Listing:

https://www.redfin.com/WA/Camas/215-NE-14th-Ave-98607/home/14629424

If anyone familiar with this area find these to be a good purchase and decide to jump on one can you please show me the ways?

Thank you!

[Jessica S.]

The Vancouver property is a HUD home. They don't always have the most accurate listings. (I found an extra bathroom in a Portland HUD home once, it was a nice surprise.). There may already be a finished basement based on the tax record, but it also might not be permitted.

I wouldn't be interested in this one because it's a corner lot on a very busy street.  Did you check it out on Google Maps?  Some people don't care but "no busy streets" is one of my rules.

I love looking at properties, it's an addicting pastime!