All Forum Posts by: Melissa Murphy

Investment Info:

Single-family residence buy & hold investment in Spokane.

Purchase price: $135,000
Cash invested: $27,000
Sale price: $214,900

My first house! This was a run down single family home on the South Hill. It had a large oversized lot. I remember the kitchen remodel, living in the home and having to make coffee with water from the bathtub. It took us 6 weeks to complete, because we did all the work ourselves. Next, we tackled the basement installing two egress windows and remodeling the bathroom. In 2007, it became a rental property until 2009.

Investment Info:

Single-family residence buy & hold investment in Spokane.

Purchase price: $71,750
Cash invested: $3,587
Sale price: $115,000

My first purchase! I was one semester shy of finishing my 4 year degree at Gonzaga University, and I had cash from bonds my great great grandmother had left me when she passed. So with only $3,587 dollars, I got my first condo that came with a HUGE room sized tv on wheels. What a deal. Shortly thereafter, I purchased a single family home, moved out, and rented this unit to a friend, making almost 250 dollars a month on the rent.

Investment Info:

Single-family residence commercial investment investment.

Purchase price: $122,000
Cash invested: $210,000

Found this property as a foreclosure, with 3 offers on the table. Had 4 hours to pull together cash in order to execute on the deal. I called a friend for a private money deal to close immediately, allowing me to beat the other offers. I then worked with a great firm in town to execute on tenant improvements turning the space into the nicest real estate office in town! 8 years later, it still impresses visitors.

Investment Info:

Large multi-family (5+ units) commercial investment investment in Spokane.

Purchase price: $237,500
Cash invested: $75,000

Older vintage home converted to a six plex on an oversized lot. Owner occupied unit. Offered just under asking price with 3 other offers on the table, but seller financing at 5.5% percent. Older seller like the secure monthly payment, and accepted.

Investment Info:

Large multi-family (5+ units) commercial investment investment in Spokane.

Purchase price: $237,500
Cash invested: $75,000

Older vintage home converted to a six plex on an oversized lot. Owner occupied unit. Offered just under asking price with 3 other offers on the table, but seller financing at 5.5% percent. Older seller like the secure monthly payment, and accepted.

Hi Young, 

I am an active real estate agent and investor myself so I know this is a very hard line to walk.  If I send out a mailer as an investor and I get a call directly from my marketing, then I will usually calculate the investment for myself first, and then pass it along to my investor/buyer list if it isn't a fit for me, and my buyer list is always happy!  Plus, resources are limited and I can't buy every deal.  

When it comes to properties that are listed on the MLS/short sale options, I always always always defer to my investors/buyers if the numbers look good, or if they inquire about it directly. If you have any doubt, address the concern immediately. There could be a misunderstanding. If you find that the answer is anything but clear, search BP for another agent! Good luck!

Investment Info:

Large multi-family (5+ units) commercial investment investment in Spokane.

Purchase price: $237,500
Cash invested: $75,000

Older vintage home converted to a six plex on an oversized lot. Owner occupied unit. Offered just under asking price with 3 other offers on the table, but seller financing at 5.5% percent. Older seller like the secure monthly payment, and accepted.

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

House is situated on a large lot, with the option to add parking, laundry and storage downt he raod.