By Living Room Realty, August 11, 2021
Congratulations to my clients Kerri and Manuel for securing their next investment property!
I met Kerri, Manuel, and their kids about 3 years ago at an open house. Last summer I helped them sell their rental in NE. Since then, they have been keeping their eyes peeled for years for their next investment opportunity.
They had set their sights on close-in Milwaukie, where Kerri works and the kids go to school. The ultimate dream was a house that needed some love (Manuel is a contractor) on a massive lot. Kerri, a kindergarten teacher, had been wanting to open a bilingual outdoor school. The big outdoor space for kids to explore, play, and learn about nature was key.
We toured many fixers and bare land properties in the area, but every one of them had a catch or received multiple offers. Recently, two homes very close to downtown Milwaukie popped up – both on a half acre, and right next to each other! The smaller (800 sq ft) was in good shape on the inside, and had a big shop with ADU potential, but the lot was sloping. The larger (1250 sq ft) needed a lot more work but had a flat yard. Plus, it was priced $25,000 lower than the smaller house.
It was a tough choice, but Kerri and Manuel ultimately went with the fixer. Structurally it was sound, and we were able to negotiate $12,500 off the price to put into electrical and roofing repairs. I am excited to see her long-awaited vision come to life. Cheers to a wise investment!
