This deal was sourced off market, initially secured with a private loan, then cash out refi with conventional 30 year loan at 4.65%. Once stable, unit produces ~$1,000 month cash flow.
By working with Section 8 program, we were able to secure a long term, stable tenant at full Market Rent. It takes a little more patience to set up with the program.
The short plat process takes 1-2 years to complete. This is okay with the rental property combination, we are not in a hurry. The recurring monthly income makes this deal good without the short plat. This is just an added bonus!
Sagareus Real Estate is delighted to be highlighted in the Top 20 Picks for Property Management Companies in Bellevue, WA by PropertyManagement.com in...
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