I'm moving back to Lacey, WA for the second time. I bought in 2016 and sold in 2019 and made a significant return on my investment. I am on my way back to the area for the second time an am purchasing another home in the area. Prices in this area are getting really high and I'm wondering what professionals in this area are thinking about investing in and around JBLM?
I would like to get into the single family home rental space but am struggling to find properties in this area that would make the numbers work.
I am a licensed realtor in the Lacey/Olympia area. Finding homes to pencil as single family rentals are difficult! Here, you will see your best return if you can find a home that needs a little work and making necessary repairs. However, even then your return will be low! Maybe $100/month after all expenses and mortgage are paid. In this area you are primarily purchasing a single family home for the appreciation potential and not the monthly cash flow.
The JBLM, Hawks Prairie, Olympia and Tumwater areas are HOT! Inventory is at historical lows and continuing to drop each month, causing prices to rise and remain steadily strong. If you would like to meet to discuss more send me a message and I would love to meet up!
John – hi there – and welcome back to the area ….will the home you purchase be for your primary residence or strictly for investment purposes ? The closer to JBLM the tighter the market in most cases …..will you have the need for a loan./ financing ? if so – make sure to get pre approved before beginning to start searching …this is important so that you can move quickly if needed when you locate a property you want to pursue