All Forum Posts by: Ross Webb

First FFR - sale pending 2/26.  When is it safe/legal to list it online as an available to rent property? Turn-key property, rent ready.

This specific area saw 5% increase in average home prices value in 2019 and is projected to continue to see positive growth in home value to the tune of 3% in 2020. 

I may be experiencing some bias due to the fact this is my first attempt at a SFR.

If I am neglecting reality, it would be great to have that input. 

Thanks!

As our first SFR, the numbers don't look too attractive, but for a buy and hold scenario over the course of the next 5-10 years, the increased equity adds an additional incentive to buy.

My question is: Is this just my perception, or could this be reality? Anything that I could be overlooking?

View report

*This link comes directly from our calculators, based on information input by the member who posted.

@Eric Lefteroff Thanks! My wife and I did a lot of the work ourselves, unless we felt a licensed contractor was appropriate. As for the time frame - you got it. Two years will get you outside capitol gains taxes.  

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $351,000
Cash invested: $65,000
Sale price: $525,000

House hack in Renton, WA - live in for 2 years while renovating.

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

House was livable and large enough to reside in while renovating. This neighborhood is 15 miles South of downtown Seattle and is seeing tremendous growth as families are leaving the city due to high cost of living.

How did you finance this deal?

FHA Loan and personal capitol

How did you add value to the deal?

Complete remodel

Lessons learned? Challenges?

Flipping a house while residing in the residence is tricky. It takes a lot longer than anticipated and will cost more than the estimated.