All Forum Posts by: Shirley Yim

Hi, This property is no longer available.  Thanks for your interest!  Shirley

21.47% Cash on Cash -- 9.79% CAP -- Large Townhome Style Fourplex Lakewood, Washington near JBLM

A large fourplex in Lakewood, Washington, conveniently located close to Joint Base Lewis-McChord.

Townhome style that boost 1,200 square feet of space with 3 spacious bedrooms, 2.25 baths, washer and dryer in unit, and 2 car garage.

Large walk in close in master suite

The property has been well maintained -- Exterior paint done on building 2 years ago

Units have been updated with new storm windows 8 years ago

Turnkey investment opportunity.

Each unit is individually metered for water and electric

Easy to rent resulting in steady stream of income. Currently 100% leased with long term tenants

Property is located in a cul-du-sac along a greenbelt

Short walk to a brand new 3.5 acre public park, with play area, big open field, two half court basketball courts and rental picnic area

Close proximity to local coffee shops, grocery stores, gas station, hospital, and less than 5 minutes away from major freeway

Under contract for $390,000. The County has it assessed at $450,000. Value based on comparable sales is conservatively between $450,000-$475,000 allowing for instant $60k-$85k equity. Rents are under marketing with potential to increase immediately by a minimum of 10% to as much as 30%.

Outstanding investment opportunity that provides 21.47% cash on cash return, excellent cash flow, and positive equity growth in steady area.

Agree with Brandon and Wei on reading up on items in BP and then joining your local REIA. I was lucky and got introduced to real estate investment through my parents but later took some expensive seminar training courses that really helped me understand all the different tools but wasn't as value added until I hired a mentor to really push and guide me to make the jump.

You'll eventually need to spend money somewhere and if you don't on education you'll end up spending more money learning from your mistake.  So get educated, don't be shy to ask questions, learn, hire a good mentor to walk/guide you through deals, and ask for help!  Good luck! 

I am in a similar boat with my parent where they are interested in passing their property to me, my brother, and sister however, depending on how you guys want to treat the home (i.e. use as an investment property, or your younger sister get's to live in the home if she doesn't have the financing strength, your parents want to sell to you guys because they need the money...) this might be a situation where your parents should talk to an estate planning attorney on how best to proceed.  

Sometimes when one asset is being split between siblings it might be good to be put into a trust while the parents are alive, and how they get money from it ect will depend on everyone's needs/wants.  

I personally don't know how civil you are with your siblings but me and mine all have different ideas of how to handle and do things and clash so my parents putting property in a living trust is controlled by my parents wishes instead of us sibling trying to argue and kill each other over which decision makes the most sense.  

Not sure if this helped but I think a good start really is to understand everyone's needs and then proceeding with a estate planning/tax attorney for advise.