Cash flowing Single-Family Rental in Everett Wa purchased in 1998

[Jamal Hammett]

Investment Info:

Single-family residence buy & hold investment in Everett.

Purchase price: $154,000

Silver Firs Townhome
3 Br 2.5 Ba
1 car Garage +2 parking spots
1596 sqft

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

It was my first property. I was 24 years old and it was my strategy to buy my first home and in a few years move out and rent it out
then pull a HELOC then purchase more investments and assets.

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

I got pre-approved and drove around.

How did you finance this deal?

VA loan

How did you add value to the deal?

N/A

What was the outcome?

N/A

Lessons learned? Challenges?

Save for escrow shortage
be able to pay the mortgage if your tenant cant.
have a line of credit for when appliances break or repairs need to be made.
Have a property manager that also invest as well.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Keller Williams Everett Washington