There are currently 8 homes for sale in Bellingham that “make sense”. For a home to make sense, I look for homes that would produce positive cash flow with a 20% down payment. In Bellingham, rental rates are typically based on the number of bedrooms. If you place a home for rent in Bellingham today, you should expect to receive $400 (on average) per bedroom. Therefore a 3 bedroom home would rent for $1,200. At a purchase price of $220,000, you would need $44,000 (20%) down payment and would pay $1,112.44 a month in principle and interest at 6.5% interest on a 30 year note. When you add in tax and insurance, you are going to be very close to $1,200 in monthly expenses.

Based on these numbers, it seems clear that a 3 bedroom home priced at $220,000 is the point of even cash flow. Therefore you need to target 3 bedroom homes in Bellingham that are priced under $220,000 to create positive cash flow. I have found 8 homes in Bellingham that currently fit the criteria. Because I do not represent the sellers of these properties I cannot advertise, which homes I am talking about. If you would like to learn more e-mail me at Ryan (at) SolutionsTeam.net, or call my cell number at 360-319-0040.

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