Here is the property that we will be fixing up in Tacoma. It is located in the Wapato Lake community, at 6832 Yakima Avenue, a solid working-class residential neighborhood.
It mostly needs carpets replaced, new paint and a thorough cleaning. It needs a new hot water heater and a new oven/stove. There are some eyesores in the neighboring properties that need to be addressed. It needs fences painted, repaired or replaced. It needs other cosmetic improvements. We are looking for contractors now to give us bids, while we wait for confirmation from the bank that they have accepted our offer to purchase this property.
We want to get it fixed up and ready to sell before the end of April, in order to take advantage of any remaining first time homebuyers hoping for tax credits before they expire. It should come back onto the market at around $155,000.
So these are all the rough estimates at this point. Let's see how close we get to our targets!
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