Wenatchee getting the recognition it deserves best kept in US
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votesWenatchee getting the recognition it deserves best kept in US
Most Popular Reply
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
7yOriginally posted by @Jay Hinrichs:
Originally posted by @Kyle Gillespie:
Wenatchee is terrible 😉, best kept as a secret!
you know Bend blew up.. and I get it better high end golf courses and Mt. Bachelor is a better ski mountain than most anything in Washington.. But I still think no state income tax's better weather.. and more variety.. its just a winner.
I'm with you here, Kyle. Shh! My commute is increasing from 5 to 7 minutes with all the newcomers. That's 50%! LOL
Thanks for referencing the article, Jay. I'll take a look when I get done chopping up some new powder. Merry Christmas to you!
56 Replies
- Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes7y
Originally posted by @Chris Miller:
Originally posted by @Jay Hinrichs:
Originally posted by @Chris Miller:
Originally posted by @Jay Hinrichs:
Also Pangborn has 7000 feet and can handle tandem landing gear which means jet service.. Jet service opened up BEND/REDMOND.. And maybe there is Jet service now.. but Jet service to Kelowna BC blew it up as well.
Unfortunately, the approaches to the runways are horrible and the airport is shut down with the fog.
I have flown in there many times but not hard IFR.. looks like the approaches though have an Two ILS and an Rnav from the south.
and given the fact that the weather there is clear blue 320 plus days don't think weather is an issue for commercial traffic.
As stated I always enjoyed flying into Pangborn.. 90% of the time I was coming from PDX so would come from the south up the river.
I might have landed there once coming from the north.. but for me if I had to land to the south would mean weather was to severe and I would avoid.
Chelan has a challenging airport that is fun to fly into.. I have been into that one Omak and the one at Oroville when clearing customs.
Its quite often we fly east side to avoid west side weather.. at least us little plane flyers. I fly a Cirrus SR 22
I used to jumpseat out of EAT to SEA and during the winter I rarely got out. Double whammy was the passes were usually a mess as well. Luckily my parents lived on the westside and could drive me to the airport so I could continue my commute to HNL. We've missed so many flights we now drive to either PSC or GEG.
I used to run into that in Kelowna when I lived there for a winter.. that was before they put in an ILS.. minimums were like 1000 or 1200 AGL . But I will defer to your expertise.. Like I said if it was hard IFR I would not be anywhere near there.. !!
- Residential Real Estate Broker · Moses Lake, WA · Member since 2016 · 49 posts · 22 votes7y
Originally posted by @Jay Hinrichs:
Originally posted by @Chris Miller:
Originally posted by @Jay Hinrichs:
Originally posted by @Chris Miller:
Originally posted by @Jay Hinrichs:
Also Pangborn has 7000 feet and can handle tandem landing gear which means jet service.. Jet service opened up BEND/REDMOND.. And maybe there is Jet service now.. but Jet service to Kelowna BC blew it up as well.
Unfortunately, the approaches to the runways are horrible and the airport is shut down with the fog.
I have flown in there many times but not hard IFR.. looks like the approaches though have an Two ILS and an Rnav from the south.
and given the fact that the weather there is clear blue 320 plus days don't think weather is an issue for commercial traffic.
As stated I always enjoyed flying into Pangborn.. 90% of the time I was coming from PDX so would come from the south up the river.
I might have landed there once coming from the north.. but for me if I had to land to the south would mean weather was to severe and I would avoid.
Chelan has a challenging airport that is fun to fly into.. I have been into that one Omak and the one at Oroville when clearing customs.
Its quite often we fly east side to avoid west side weather.. at least us little plane flyers. I fly a Cirrus SR 22
I used to jumpseat out of EAT to SEA and during the winter I rarely got out. Double whammy was the passes were usually a mess as well. Luckily my parents lived on the westside and could drive me to the airport so I could continue my commute to HNL. We've missed so many flights we now drive to either PSC or GEG.
I used to run into that in Kelowna when I lived there for a winter.. that was before they put in an ILS.. minimums were like 1000 or 1200 AGL . But I will defer to your expertise.. Like I said if it was hard IFR I would not be anywhere near there.. !!
Kelowna and Penticton are fun ones! They really give the TAWs a workout even on the approach!
- Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes7y
Originally posted by @Chris Miller:
Originally posted by @Jay Hinrichs:
Originally posted by @Chris Miller:
Originally posted by @Jay Hinrichs:
Originally posted by @Chris Miller:
Originally posted by @Jay Hinrichs:
Also Pangborn has 7000 feet and can handle tandem landing gear which means jet service.. Jet service opened up BEND/REDMOND.. And maybe there is Jet service now.. but Jet service to Kelowna BC blew it up as well.
Unfortunately, the approaches to the runways are horrible and the airport is shut down with the fog.
I have flown in there many times but not hard IFR.. looks like the approaches though have an Two ILS and an Rnav from the south.
and given the fact that the weather there is clear blue 320 plus days don't think weather is an issue for commercial traffic.
As stated I always enjoyed flying into Pangborn.. 90% of the time I was coming from PDX so would come from the south up the river.
I might have landed there once coming from the north.. but for me if I had to land to the south would mean weather was to severe and I would avoid.
Chelan has a challenging airport that is fun to fly into.. I have been into that one Omak and the one at Oroville when clearing customs.
Its quite often we fly east side to avoid west side weather.. at least us little plane flyers. I fly a Cirrus SR 22
I used to jumpseat out of EAT to SEA and during the winter I rarely got out. Double whammy was the passes were usually a mess as well. Luckily my parents lived on the westside and could drive me to the airport so I could continue my commute to HNL. We've missed so many flights we now drive to either PSC or GEG.
I used to run into that in Kelowna when I lived there for a winter.. that was before they put in an ILS.. minimums were like 1000 or 1200 AGL . But I will defer to your expertise.. Like I said if it was hard IFR I would not be anywhere near there.. !!
Kelowna and Penticton are fun ones! They really give the TAWs a workout even on the approach!
I have TAWS in the Cirrus.. I don't mind when I can see the rocks.. but if in IFR its quite unnerving Pull UP. LOL
Thompson falls comes to mind.. OK back to the gifts.
- WA · Member since 2018 · 10 posts · 1 vote7y
Wenatchee is great and would love to buy a small multi family there, but it’s a little too expensive for me currently. I also happen to live in Moses lake, about 1.25 hrs away. I’ve been here 2 years and it appears to be growing, slowly. Anyone have strong opinions or insight regarding investing in buy and holds in Moses lake?
Thanks
- Rental Property Investor · Kelowna, British Columbia · Member since 2015 · 136 posts · 54 votes7y
I love WA state mainly the areas closer to the Canadian border (I love the Cascades)
We have rental properties in Kelowna and Victoria but the prices here are nuts. (I.e. the 1% or 2% rule never apply here ... our reality is closer to 1/2% up to 3/4% rule if you’re lucky)
Having said that appreciation is very good so I am considering selling one property in the near future and buy two across the border (i.e Indiana or Arizona) which will likely to cash flow better in comparison with one here.
Happy new year mates !
Edison
- Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes7y
Originally posted by @Edison Reis:
I love WA state mainly the areas closer to the Canadian border (I love the Cascades)
We have rental properties in Kelowna and Victoria but the prices here are nuts. (I.e. the 1% or 2% rule never apply here ... our reality is closer to 1/2% up to 3/4% rule if you’re lucky)
Having said that appreciation is very good so I am considering selling one property in the near future and buy two across the border (i.e Indiana or Arizona) which will likely to cash flow better in comparison with one here.
Happy new year mates !
Edison
ys wish I still had the house I bought at the Okanagan golf club.. for 200k CDN and the ski in ski out condos at silver star I paid 40k or less for CDN.. I was there last summer ( on my way to Kamloops to fish) that place has blown up.
do be careful chasing cash flow in the US>. make sure you buy at the top 1/3 of the price points of a given market.. and keep in mind its not CA RISK very much relates to returns..
- Rental Property Investor · Kelowna, British Columbia · Member since 2015 · 136 posts · 54 votes7y
Well said Jay !
In another note .... Kamloops is currently rated (by REIN) as one of the top 5 cities to invest in Canada.
Cheers
- Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes7y
Originally posted by @Edison Reis:
Well said Jay !
In another note .... Kamloops is currently rated (by REIN) as one of the top 5 cities to invest in Canada.
Cheers
there is a really cool Cabin on Campbell lake I would dearly love to have and live there spring fishing and fall fishing.. fishing is better over in the Kamloops region than Kelowna at least for the still water I like to do.
- Residential Real Estate Broker · Moses Lake, WA · Member since 2016 · 49 posts · 22 votes7y
Originally posted by @Braeden Cook:
Wenatchee is great and would love to buy a small multi family there, but it’s a little too expensive for me currently. I also happen to live in Moses lake, about 1.25 hrs away. I’ve been here 2 years and it appears to be growing, slowly. Anyone have strong opinions or insight regarding investing in buy and holds in Moses lake?
Thanks
We have single family and multi-family in Moses Lake. It has been a great market but with the recent glut of apartments the market had definitely softened. Also, with the cuts at REC Silicon there has been a cut of well paying jobs in the area.
- Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes7y
Originally posted by @Chris Miller:
Originally posted by @Braeden Cook:
Wenatchee is great and would love to buy a small multi family there, but it’s a little too expensive for me currently. I also happen to live in Moses lake, about 1.25 hrs away. I’ve been here 2 years and it appears to be growing, slowly. Anyone have strong opinions or insight regarding investing in buy and holds in Moses lake?
Thanks
We have single family and multi-family in Moses Lake. It has been a great market but with the recent glut of apartments the market had definitely softened. Also, with the cuts at REC Silicon there has been a cut of well paying jobs in the area.
are the local economic development folks City fathers planning commission pro growth.. are they doing things to try to attract new business. ??? Or is it like Oregon.. with their nose in the air attitude.. IE ( We are Oregon everyone wants to live here LOL)
- Residential Real Estate Broker · Moses Lake, WA · Member since 2016 · 49 posts · 22 votes7y
Originally posted by @Jay Hinrichs:
Originally posted by @Chris Miller:
Originally posted by @Braeden Cook:
Wenatchee is great and would love to buy a small multi family there, but it’s a little too expensive for me currently. I also happen to live in Moses lake, about 1.25 hrs away. I’ve been here 2 years and it appears to be growing, slowly. Anyone have strong opinions or insight regarding investing in buy and holds in Moses lake?
Thanks
We have single family and multi-family in Moses Lake. It has been a great market but with the recent glut of apartments the market had definitely softened. Also, with the cuts at REC Silicon there has been a cut of well paying jobs in the area.
are the local economic development folks City fathers planning commission pro growth.. are they doing things to try to attract new business. ??? Or is it like Oregon.. with their nose in the air attitude.. IE ( We are Oregon everyone wants to live here LOL)
The Grant County Economic Council http://www.grantedc.com has been great in traveling and getting the word out that the county is open for business.
- Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes7y
Originally posted by @Chris Miller:
Originally posted by @Jay Hinrichs:
Originally posted by @Chris Miller:
Originally posted by @Braeden Cook:
Wenatchee is great and would love to buy a small multi family there, but it’s a little too expensive for me currently. I also happen to live in Moses lake, about 1.25 hrs away. I’ve been here 2 years and it appears to be growing, slowly. Anyone have strong opinions or insight regarding investing in buy and holds in Moses lake?
Thanks
We have single family and multi-family in Moses Lake. It has been a great market but with the recent glut of apartments the market had definitely softened. Also, with the cuts at REC Silicon there has been a cut of well paying jobs in the area.
are the local economic development folks City fathers planning commission pro growth.. are they doing things to try to attract new business. ??? Or is it like Oregon.. with their nose in the air attitude.. IE ( We are Oregon everyone wants to live here LOL)
The Grant County Economic Council http://www.grantedc.com has been great in traveling and getting the word out that the county is open for business.
Any tax breaks .. Any waiving of SDC's for building permits to attract employer's ? this is what it takes these days.
- WA · Member since 2018 · 10 posts · 1 vote7y
@Chris Miller There has definitely been a lot of new apartments going up, as well as some commercial stuff. That Wendy’s drive thru line was ridiculous. Are you still buying or just sitting on the sidelines for now? I’m wanting to house hack a small multi family but haven’t found anything that pencils out.
- Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes7y
Originally posted by @Braeden Cook:
@Chris Miller There has definitely been a lot of new apartments going up, as well as some commercial stuff. That Wendy’s drive thru line was ridiculous. Are you still buying or just sitting on the sidelines for now? I’m wanting to house hack a small multi family but haven’t found anything that pencils out.
not sure if your talking about Wenatchee however a quick look on Zillow I found a nice looking fresh rehab 4 plex for 359k.. seems to me that would make a nice house hack or a great starter property .. get into it for 15k out of pocket nice FHA loan and probably live in it for free.. ???
- Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes7y
I know this house. 1918 converted single fam on .14 acre. Owner died, bought last April buy investor LLC for $180k. Town has stated lot use and house listed as single fam (11).
So, not your standard quad, but worth having pop up on your criteria feed. Small lot, probably hasty reno that may or may not even be legal. Built in 1918. Caveat emptor. Talk to the city first.
- Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes7y
@Steve Vaughan of course Zillow is Zillow.. but it looked cute.. sounds like there is some room in that market for value add then..
Steve do you ever go to the trustee sales ???? is the county seat there in Wenantchee ?? AS you can tell I am just itching to get back in the air and any excuse to fly up there LOL.. been grounded for a while now.
- Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes7y
Originally posted by @Jay Hinrichs:
@Steve Vaughan of course Zillow is Zillow.. but it looked cute.. sounds like there is some room in that market for value add then..
Steve do you ever go to the trustee sales ???? is the county seat there in Wenantchee ?? AS you can tell I am just itching to get back in the air and any excuse to fly up there LOL.. been grounded for a while now.
Nope, never been to a trustee sale on courthouse steps. I used to do follow-up on them and found a large % don't happen. Bank wins the auction, homeowner gets a stay, what have you. But it's been a while since I've looked into them.
The purchase process is also onerous if I remember right. Have to buy in full by end of day with 10% deposit right then and there. What, do you have 10 cashiers checks in varying amounts for the deposit then run to your bank to re-deposit the 9 you didn't use and start the wiring process for the balance before 5pm?
Then there's asset risk (not fully inspected or seen at all) right of redemption risk and frenzy risk. You might over-pay!
Yep, Wenatchee is Chelan County seat. I can't stand Wenatchee to be honest with you. When I had my rentals there, the noxious weed board was bothering me at least twice a year, sprinkler back-flow preventers have to be tested every year (after getting a full plumbing permit to install it), code enforcement is insane. Just sent me a $3k bill for a house I sold on contract in '05 for some garbage behind the detached garage and I'm the responsible party somehow...
I love the area, just not the city govt. Good news for my local investor buddies- I will forever wholesale assign any opportunity within city limits!
Would love to meet you, Jay. Please let me know of you find yourself here!
- Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes7y
@Steve Vaughan back to that 4 plex for someone starting out and looking for an FHA loan minimum down house hack if that property checked out .. there you have one that is financially viable sitting right on Zillow.. now it might not check out. ?
As for trustee sales.. in WA you need the full amount at the sale.. so if opening bid is 200k you need a cashiers check for 200k.. and what we do is have ONE more check for your max bid.. one for 200,001. or another words dollar over.
and then your max.. the trustee sends you your change back.. you don't need 20 checks.. And you don't win the bid yes you just return the check common practice..
I think I will pop on some of the bigger wa state trustee sites and see whats shaking in Chelan county.. I have a niece up there that could bid for me.
Also there is NO right of redemption on trustee sales in WA.. U buy it you own it.. LOL.. now of course if its occupied you have to go through eviction if they wont leave..
Its not for the faint of heart.. and there has to be meat on the bone to make it worth the risks.. it is high risk investing with potential of high rewards. I suspect you have like many other markets a small cabal of locals that dominate the sales..
- Architect · Wenatchee, WA · Member since 2018 · 843 posts · 907 votes7y
Originally posted by @Steve Vaughan:
I love the area, just not the city govt.
Haha isnt that the truth. Actually both the city and county planning offices are in total epic chaos right now. So much turn over in upper management and the temp people the have in place right now are completely incompetent of fulfilling the job requirements. Its been a nightmare for my offices projects. What use to take a month now take 6 months. Oh and just before Christmas we found out that the city is increasing almost all the planning/permit fees by 12%!!! on Jan 1.
If you ever do make it up this way Jay let me know. - Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes7y
@Steve Vaughan@Steve Vaughan City of Portlandia that socialistic republic here on the banks of the Columbia.
the city planning and building has gotten sooooo bad.. led by inept city fathers and major.. that many many developers and builders will not work in the city limits anymore.. Myself included. I have 3 specs going right now and that's the last project for me.. I just closed on 89 lots just south of the city.. I got that fully entitled in less time than it took me to get building permits on these last 3 houses I have going..
So to that end. .the city has already laid off 4 staff members .. too bad for them. when your rules are so hard to follow and its so inept that people stop working in your jurisdiction.. Still plenty going of course in a city this size.. but its an indication they have run the small business folks out ..
most of the small builders rely on HML and with sales prices so high. ( sellers want top dollar) you have to close on the lot before you get going on permitting.. and then permiting takes 2 years you can see where you cap drag just totally eats into profits.. so the only thing to do is pay less for the dirt which most if not all sellers are not willing to do.. so you have a lot of projects making very little to no money right now. and the HML are scrambling for deals also .. with many starting to fund out of state by necessity..
- WA · Member since 2018 · 10 posts · 1 vote7y
@Jay Hinrichs I looked up that quad and it does look doable, but yeah I was talking about Moses. Thanks though. More than anything, timing isn’t right for me as I’m starting a side business that will hopefully generate a fair amount of income that I intend to invest in RE.
There are actually 4 parcels for sale in Moses, each with 2 side by side duplexes. It’s been listed over a year and they have dropped the price a few times so I wonder if someone could make an aggressive offer or buy the lot of them for a big discount.
Until I’m ready, I’ll keep learning and evaluating deals. Also, I’ve read a lot of your posts over the past month and have learned a ton, so thanks for taking the time to contribute.
- Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes7y
Originally posted by @Braeden Cook:
@Jay Hinrichs I looked up that quad and it does look doable, but yeah I was talking about Moses. Thanks though. More than anything, timing isn’t right for me as I’m starting a side business that will hopefully generate a fair amount of income that I intend to invest in RE.
There are actually 4 parcels for sale in Moses, each with 2 side by side duplexes. It’s been listed over a year and they have dropped the price a few times so I wonder if someone could make an aggressive offer or buy the lot of them for a big discount.
Until I’m ready, I’ll keep learning and evaluating deals. Also, I’ve read a lot of your posts over the past month and have learned a ton, so thanks for taking the time to contribute.
more often than note those that have duplex 4 plex that put them up for sale ask the moon for them and just hold tight until someone meets their price if they are performing they are in no hurry.. its when they become burnt out landlords or something else in their life changes that motivation sets in.
- Residential Real Estate Broker · Moses Lake, WA · Member since 2016 · 49 posts · 22 votes7y
Originally posted by @Jay Hinrichs:
Originally posted by @Chris Miller:
Originally posted by @Jay Hinrichs:
Originally posted by @Chris Miller:
Originally posted by @Braeden Cook:
Wenatchee is great and would love to buy a small multi family there, but it’s a little too expensive for me currently. I also happen to live in Moses lake, about 1.25 hrs away. I’ve been here 2 years and it appears to be growing, slowly. Anyone have strong opinions or insight regarding investing in buy and holds in Moses lake?
Thanks
We have single family and multi-family in Moses Lake. It has been a great market but with the recent glut of apartments the market had definitely softened. Also, with the cuts at REC Silicon there has been a cut of well paying jobs in the area.
are the local economic development folks City fathers planning commission pro growth.. are they doing things to try to attract new business. ??? Or is it like Oregon.. with their nose in the air attitude.. IE ( We are Oregon everyone wants to live here LOL)
The Grant County Economic Council http://www.grantedc.com has been great in traveling and getting the word out that the county is open for business.
Any tax breaks .. Any waiving of SDC's for building permits to attract employer's ? this is what it takes these days.
The Port of Moses Lake pushes incentives http://www.portofmoseslake.com/economic-dashboard/employer-incentives/ other than those I am not familiar with any.
- Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes7y
Originally posted by @Rob Ko:
Hey guys,
do you have any recommendation for a skilled broker in the Wenatchee, WA area? I would like to talk to someone who knows the market well and has been working with investors.
Looing for a multifamily property in the area.Thank you.
I may have a recommendation, but would like to hear more detailed criteria. Price range, size, etc. A completed profile would help as well.
We need to respect the time and expertise of our good brokers.
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