My First Investment Property

[Todd Reps]

Investment Info:

Single-family residence buy & hold investment in Tacoma.

Purchase price: $305,000
Cash invested: $60,000

3 bdrm, 1 bath home in North Tacoma. Remodeled and updated throughout.

How did you add value to the deal?

House had been through multiple price reductions. I offered 20k less and they accepted. I added a new roof, new pex tubing, complete remodel of the bathroom and new flooring in the living room and hallway along with painting the interior doors and walls and new paint scheme on the exterior.
Kitchen stayed as it was but I had the cabinets painted to give them an updated look.

What was the outcome?

An almost new house. Everything turned out great and was rented within 3 days of going on the market.

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

I worked with an agent that was referred to me by my mortgage broker. I would totally recommend these people to others.