By Living Room Realty, June 5, 2019
Own-to-Rent? I must mean rent-to-own, right?
Not this time! I recently had the absolute pleasure of assisting my clients J & K to purchase a home in Russellville (east of Mt. Tabor, north of Powellhurst-Gilbert, south of Maywood Park) SIGHT UNSEEN with the intention of living in in a couple years and then renting it out. It’s not an unheard-of scenario, but a few other key points made this transaction a bit unusual.
First, I met J on Instagram. That’s right – a friend of mine from Portland (who now lives in California), sent me a direct message telling me that she’d been contacted by one of her followers looking for a broker referral. She mentioned me, and we got in touch. J and I chatted on the phone for a couple hours that first time and had SO much in common! And I was super impressed that she and her husband had the financial forethought to consider purchasing a home with cash instead of renting while finding their perfect neighborhood in Portland. Financially risky? To some, it would seem so. But J & K have their $***] together and knew exactly what they were doing!
In fact, these guys already found a place they loved online, and it was PRICED UNDER $300K. That’s right, UNDER $300K. And they got it for that price, too – not crazy over-bidding on this one. They were SO confident with the home, they trusted me to go check it out, make videos, tour the neighborhood, talk to the neighbors, etc. to help them make the final decision as to whether or not to purchase it.
And just three weeks and a few inspections later, they arrived in Portland to pick up their keys! Welcome to our beautiful city, J & K!
