THE POWER OF STAGING: BEFORE AND AFTER PHOTOS

Real Estate - 011421
Real Estate 2 - 011421

Is real estate investing one of your New Year Resolutions? If so, here are some tips on how to start and do it right.

Buy & hold strategy. Unless you have solid real estate expertise and deep pockets, stay away from the riskier investment strategy of flipping homes. 

Four Returns on investment. Rent (cash flow), principal reduction (equity), leveraged appreciation, and depreciation (tax savings).

It is all about the numbers. Buy only break-even or cash flow positive properties, buy quality (reduced maintenance/rehab costs), and pay attention to location as it relates to current and projected rental rates (steady or growing), vacancy rates (5% or less), and local employment (steady or growing).

Sources of down payment. Savings, stock market, retirement account, 1031 exchange, refinance an existing investment property, equity line of credit on a personal residence.

Learn about the industry. The most successful investors take the time to learn about the local market, issues, trends, strategies, laws, etc. I highly recommend the Rental Housing Association of WA as a great starting point (www.rhawa.org).  If you don’t have much time for this, then make sure your team of experts provides you with regular updates.

Build your team of experts. Start with a Real Estate Broker with local expertise and their expert team of lenders, contractors and property managers.

• Have fun!

Cottage lake beach club - 011421

NEIGHBORHOOD HIGHLIGHT: COTTAGE LAKE BEACH CLUB

Neighborhood Established: 1966

Approx. # of homes: 123

Homes Sold in 2020: 5

2020 Lowest Sale Price: $660,000

2020 Highest Sale Price: $ 950,000

Location: Borders the East side of Cottage Lake, West of Avondale in Woodinville 

Did you know? The homeowners in this neighborhood all have rights to use the community private park with a play area, reservable party cabana, swim area and dock on the lake. It is also next to the library.

Want to explore your options? If you want to work with a local Real Estate Expert, contact Ashley Farrington and her team will start working for you!  425-890-0025 www.AshleyFarrington.com

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