All Forum Posts by: Rachel Olson

Hello BP Community!

I am super excited to join the BP Community after listening to the podcast for quite some time.  Not sure why I didn't join sooner! 

I am a realtor that does all the conventional real estate stuff - with excellent customer service, of course.  Over the past year I have begun developing a new way of carrying out my business and that is by finding off market gems!  I am able to put these off market properties in front of the right buyers and have gotten countless deals done.  The initial goal was to find these properties for flippers or builders and then build up my future pipeline of "listing back" opportunities.  When you know where to look for these properties and how to source a buyer for almost any deal, it becomes kind of a fun game.  This has completely reinvigorated my passion for real estate and I am even more excited to get to work every single day. What I am doing in the Seattle area can be done in almost any market so feel free to reach out if you have questions.  I would love to collaborate. 

Investment Info:

Townhouse buy & hold investment.

Purchase price: $342,000
Cash invested: $112,000

Our first investment property. We purchase in 2010 and turned it into a rental in 2013. We have been making steady rental income on this for over 10 years and about ready to 1031 it.

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

We purchased as our first primary home and converted it to a rental.

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

On market, distressed seller. Negotiated a good amount off the listing price.

How did you finance this deal?

Conventional financing with a bank

How did you add value to the deal?

fantastic rental cash flow. It was new construction when we purchased it so not much needed to be done. Just maintaining it.

What was the outcome?

We have rented this property for 10.5 years, averaging around $3,250/month in rental income. That's over $400k in rental income received on this property.