Real Estate Investing Case Study | Yelm Stepping Stone

This story starts in 2015.  A young Army family, (Ian & Angie, their 2 daughters and Angie's mom), were stationed at Fort Lewis, relocating from Alaska. 

They wanted at least a 4 bedroom house to live in so there would be enough room for everyone, they wanted a good investment and they needed to buy the property SIGHT UNSEEN!

On top of these needs, they had $0 to put as a down payment. 

We discussed their situation and they were able to connect with a lender who set them up with a VA Loan, which required 0% down.  After several rejected offers, we eventually secured this house in Yelm for $215k:

erika richter real estate

They hated the HOA & their requirements. And while everyone had their own (small) bedrooms, there was little living space for the family of 5 to share.  

Angie called me 1-2x per year since 2015, wanting to sell & move into a bigger property.  Each time, we ran the numbers, evaluated the market, and each time it just didn't make sense to sell.

Fast forward to June 2020:

Ian was transferred to Virginia, we took a look at the market, and decided... yes, let's list this property.  We listed for $329,950; We received the first offer within 8 hours, had 20 showings in 2 days, which produced 7 offers total... all over list price. 

Ultimately, Ian & Angie accepted an offer for $340,000. After taxes & fees, they're put $113,000 in their pocket, paid off their vehicles & padded their savings account for a rainy day. 

Yelm returns

Lessons Learned
Working with Erika

"I absolutely love what I do! Helping people build wealth thru real estate is my passion, I've dedicated my professional life to learning the ins & outs of investing, what to look for and what to avoid for each individual or family I work with. Every situation is different and I have so much fun with every transaction! I hope you will be my next success story!"

Learn more about working with Erika HERE.

erika richter real estate

 


How to Buy Real Estate

 

Related Posts

Simple Roommate House Hack Strategy

House hacking is when you create income from the property you are living in. There are a lot of strategies to accomplish this goal, but today's art...

How to Qualify for a Mortgage Loan

Many 1st time buyers are intimidated by the mortgage application process, but it’s actually pretty simple. Even if you don’t quite qualify today, I...

Leave a Reply