San Francisco, CA · Member since 2015 · 786 posts · 717 votes
10y
Tons of flips and development opportunities in Tacoma. I have 8 going right now and the margins are all good. But you win' find them on the MLs unless it's a short plat deal.
Keep in mind that Tacoma just changed their permit system and now you can't smooze your way to get quick permits (as of last month I believe). Everything now has to be done electrically and I recommend getting an architect for even basic flips in Tacoma.
Might be looking 2-3 months for permits.
For the many that don't believe in permiting everything, you probably are not doing enough volume to be familiar with Labor and Industries. Real fun stuff! You have to permit everything.
Investor · Seattle, WA · Member since 2016 · 4 posts · 4 votes
10y
I'm new to bp but am also interested in a fix and flip in Tacoma. I went and looked at about 15 houses on Monday and now have a greater appreciation for the market down there (I live in Seattle). The most interesting one I saw was a house owned by the VA on a 9500 sqft lot that looked like it could be subdivided. It went pending that day...
Investor · Seattle, WA · Member since 2016 · 4 posts · 4 votes
10y
Rudy, I just started looking but it seems the numbers are fairly tight for fix and flip. Like I said the most interesting property I looked at went pending the day I looked at it. I think its competitive but not impossible to find a deal.
Wholesaler · Renton, WA · Member since 2016 · 93 posts · 30 votes
10y
@Rudy Manna@Kyle Keever Yes numbers are definitely tight for fix and flip. I just had a property under contract in Fircrest area, they asked for highest and best because there were 20+ offers. We came back with the highest price but after getting contractors out there, the numbers were too tight. If we werent doing HML we could have made it work though.
San Francisco, CA · Member since 2015 · 786 posts · 717 votes
10y
Tons of flips and development opportunities in Tacoma. I have 8 going right now and the margins are all good. But you win' find them on the MLs unless it's a short plat deal.
Keep in mind that Tacoma just changed their permit system and now you can't smooze your way to get quick permits (as of last month I believe). Everything now has to be done electrically and I recommend getting an architect for even basic flips in Tacoma.
Might be looking 2-3 months for permits.
For the many that don't believe in permiting everything, you probably are not doing enough volume to be familiar with Labor and Industries. Real fun stuff! You have to permit everything.