I am looking to develop a partnership with a local agent and I am wondering if anyone who invests in Skagit County Washington could recommend an agent to me. I am considering selling a BRRR property that I have occupied personally while renting out its attached ADU. I have been considering selling and reinvesting the proceeds in more than one SFR, a duplex, or larger if I can find something. I will be buying this year regardless of whether I sell this place or not.
I have purchased with Lee Ann Dean with Preview Properties Skagit County, Rebecca Geisendorf with Keller Williams Western Realty and found them both to be helpful. I have also looked at listings with Anthony Zapata of The Ben Kinney Team. I appreciate each of these agents and would work with them in the future. If anyone else has experience with any of them, please let me know your opinion.
We were considering selling prior to the COVID-19 pandemic and I still think there is a chance we could exit and do well. I am stuck on the fence as what my best option because there are huge positives whether well sell or hold and rent. I posted my scenarios Advice Please – Hold and Rent or Cash Out and Reinvest and received some great recommendations, all to hold and rent the property. If I were to sell I'd estimate I would walk away with $200k tax free. Otherwise, I figure I could hold and cashflow $1000 / month and use an existing $130K HELOC to continue the BRRR process.
Any broker / agent connections you can share or advice you may have is appreciated. I wish for you all to be healthy, safe, and prosperous.
@Matt Joplin Hi Matt, I'm an agent in Skagit with Pellego. Check out their website for analyzing properties.
I think both your options are great, and you can't go wrong with selling it or holding it. It just really depends on what you want to do. Do you like the idea of holding properties, or do you get excited about the next new thing? I personally think it's still a great time to sell and that we will continue to see a strong real estate market in this area.
We have 16 rentals in MV and Anacortes, and I personally would love to keep everything we get our hands on. I think about our legacy and long term wealth of holding on to everything. We are also about to list a 2/1 flip in MV and believe it will sell for top dollar. It sounds like you would just like more information to help you make the best decision, and I think you are at the point of personal preference of two great options!
Hi Matt! Great post. You have an enviable position to be in. Personally, I think holding onto the property and pulling out the equity would be your best option. There are so many deals pending right now that will fall apart due to changing loan programs that you will be well positioned to capitalize on them. That is especially true for when all these mortgage deferment balloon payments come due in a few months.
I’ve worked with Anthony (I started with the BK team) and he is solid. I don’t know if any of those agents are specifically investors though, but I could be wrong. I’d be happy to help you as well if you’re looking for a different opinion. Julie would also be a great choice.
Good luck out there.
@Julie Marquez and@Robert Freeborn thank you both for your solid advice. I am still trying to make my determination as to which path to go down. I think all outcomes are good, no mater which direction I take, but I am still trying to figure out the best one for me. I have found working from home, teaching my young children, and trying to move forward with my real estate projects challenging. @Julie Marquez, you have consistently posted in response to my inquiries. Thank you for being so dedicated to helping! Best wishes to you both.
@Matt Joplin Julie is pretty awesome. I know she is a lot more consistent on forums than I am. Might need to take a page out of her book! Best of luck with your investing! We turkey live in an amazing area.
@Robert Freeborn @Matt Joplin I literally just got my head down from three different apartment attics reinstalling the bathroom vent line. Just a tip - don't use actual duck tape on ducts. Then I was thinking about how I should be more hands off and maybe find someone else do this in the rest of the apartments (which I haven't check, but are probably the same poor status). I'm lucky that the kids still go to daycare, and I don't envy the folks trying to work from home and school their children all at the same time, let alone try to check on the forums and keep up with real estate.
So, Matt - I say keeping doing what you are currently doing, and when life gives you a hint, it will lead you in that other directly, but just hang on for now and keep learning - or teach your kids all about real estate. It's my dad who taught be all about going up into the attics.....