First Tacoma Rental In Hilltop

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First Tacoma Rental In Hilltop

Sean Barnebey
Member since 2020 · 3 posts · 3 votes

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $265,000
Cash invested: $5,000

First rental property, purchased utilizing WA state first time home buyer program. Was planning on renting it out November 1st 2020, but with COVID-19 switching things up I am pushing up my schedule to June 1st as life is ever changing. Very cool first deal, bought for location and cash-flow, property has appreciated approx 40k since purchase. Currently working on landscaping as well as putting in new floors!

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  • Michael HaasBusiness Member
    Real Estate Agent · Redmond, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 724 posts · 3k+ votes
    6y

    Congrats! We like the Hilltop and think there’s still opportunity to be had there. Best of luck as you finish the rehab!

    [email protected]408-439-7873
    HouseHack Seattle | Michael Haas & Team572 Reviews
    WebsiteView Page
    4Reply
  • Sean Barnebey
    OP
    Member since 2020 · 3 posts · 3 votes
    6y

    @Michael Haas Thank you so much! I focus in Pierce county and agree, there is tremendous opportunity still in Hilltop. The biggest economic driver that interested me in this deal was the proximity to where the proposed light rail extension is planned to be located. Light rail is supposed to end on MLK & 19th st, which is approx half a mile from my house. Though it is a ways in the future (I estimate it to be completed in 2025-2027) the light rail extension I believe will be a game changer for Pierce County. Similar to how people who work in Seattle have started to go into the Bremerton market so they can commute via ferry, I think that the biggest issue people now have with living in Pierce county is the traffic headaches that you have to suffer through if you work North. The light rail will change that and effectively make my rental half a mile from access to Seattle. Again, I appreciate the good vibes you have sent my way! Let me know if you ever want to chat further about the Pierce County market! I am a realtor as well :)

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  • Christen G.
    Rental Property Investor · Seattle, WA · Member since 2017 · 383 posts · 248 votes
    6y

    Welcome to Tacoma! Love Hilltop!

    0Reply
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