Property #2 in the books!

16 Replies

Closed on SFH #2 in May.

3/2, 1200sf in Tacoma, WA.

Short sale, $105K, 15% down with a 4% interest rate.

$708 PMI, renting at $1400.

Self managed and loving it.

Thank you BP!!

That is awesome, Chris!  Way to go!

Awesome Chris congrats!

Very nice. I'm selling a 3/2 1200 in Tacoma to a guy from Seattle as a turnkey rental for 200k. I'm thinking you got the better deal.

Goof job Chris,

Do you mean $708 PITI?

Did you have to do any renovations before renting?  What part of town is that in?

Oops.  I meant good job, not goof job.  

If by PMI you mean private mortgage insurance, isn't it way too high?

@Kevin Miles

Yes, PITI...rookie mistake. Thanks.

Some renovations: paint, minor landscaping, aesthetic. I had to buy a W/D and fridge too. Out of pocket, $1Kish.

If anyone in Tacoma is looking for a reliable used appliance outlet, PM me and I will give you the name of the company. Free delivery. Awesome service.

Awesome job! Congrats

Originally posted by @Chris Stromdahl :

Closed on SFH #2 in May.

3/2, 1200sf in Tacoma, WA.

Short sale, $105K, 15% down with a 4% interest rate.

$708 PMI, renting at $1400.

Self managed and loving it.

Thank you BP!!

 Congrats.  

Adrian Chu, Adrian Chu & Associates | Horizon Real Estate | [email protected] | 2064075452 | WA Agent # 107768, WA Lender # MLO-920749

Chris, That interest rate is great! Is that a 30 yr fixed? Which lender are you working with? Also, what area of Tacoma is your rental in? That is a wonderful cash flow you have created!

Hey Chris,

I'm not familiar with the Tacoma area, however I have been searching the MLS to buy a rental property down there. Any areas in specific you'd recommend and any you'd shy away from? Also houses are flying off the market in the Seattle area and inventory is low. Is it the same story in Tacoma?

Regards,

Lucas Pinto

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