Investing in Wenatchee, WA

[Amanda Dallman]

The great migration powered by remote working is fueling the growth of Wenatchee and the surrounding areas. The average home sale price is up 30% over the last 18  months with little sings of slowing. The city is ranked one of the safes in Washington state and is incredible family friendly with happening events, river front parks, and 300 days of sunshine. Building is going up every ware. Chelan county hydro program provides the area with has some of the lowest electricity cost in the nation and pumps a ton of money into community improvements. Wenatchee is also located in the heart of recreation, world class rafting, hiking, boating, climbing and 2 ski areas makes this area highly desirable to the PNW natives. If you are currently investing in the area or look to, I would love to connect! Lets see how we can support each other in growth!

Best Wishes, 

Amanda Dallman

[Steve Vaughan]

Hello, Amanda! There are a few of us on here from the area and we met up a couple weeks ago.   I'm in multis and singles (or used to be), another is an architect developer, the other focuses on industrial warehouse.  So a diverse group.  Welcome!

[Carl Polson]

If there is another meet-up in the future, would love to attend.

[Julien Jeannot]

How's the multi family market going in Wenatchee?

[Jay Hinrichs]

Quote from @Amanda Dallman:

The great migration powered by remote working is fueling the growth of Wenatchee and the surrounding areas. The average home sale price is up 30% over the last 18  months with little sings of slowing. The city is ranked one of the safes in Washington state and is incredible family friendly with happening events, river front parks, and 300 days of sunshine. Building is going up every ware. Chelan county hydro program provides the area with has some of the lowest electricity cost in the nation and pumps a ton of money into community improvements. Wenatchee is also located in the heart of recreation, world class rafting, hiking, boating, climbing and 2 ski areas makes this area highly desirable to the PNW natives. If you are currently investing in the area or look to, I would love to connect! Lets see how we can support each other in growth!

Best Wishes, 

Amanda Dallman

Hands down one of the best kept secrets in all of the US of A ..  at least for a cool place to live and work.. if you can make money in real estate thats just a huge bonus.. dont forget about Lake Chelan another gem that is not well known however one of the great spots in this country.  People flock to Bend Oregon but I think for things to do and water sports etc and no state income tax Wenatchee is pretty good choice.  Plus there is a burgioning wine scene you dont get in Bend..  Although Bend does have a lot of top end golf courses and Redmond has Jet service that Pangborn does not have..

[Steve Vaughan]

Quote from @Julien Jeannot:

How's the multi family market going in Wenatchee?

 Beautiful as a seller. I've sold a 10-unit, 2 7's, and a quad community at caps ridiculously low.  Corporate-ish entities buying to completely renovate I guess.  

I'm out for now. 

[Tim Rostro]

@Amanda Dallman

I live here in Centralia but I'm thinking of moving.  I wanted to stay in the Puget Sound and looking at outside of Gig Harbor, rural and building a house.  Never thought about Wenatchee.  Let's connect.  I'm looking for raw land and multi-units.  

V/R,

Tim Rostro
 

[Julien Jeannot]

Quote from @Steve Vaughan:

Quote from @Julien Jeannot:

How's the multi family market going in Wenatchee?

 Beautiful as a seller. I've sold a 10-unit, 2 7's, and a quad community at caps ridiculously low.  Corporate-ish entities buying to completely renovate I guess.  

I'm out for now. 

 Thanks!

[Amanda Dallman]

The rental market in Wenatchee is strong with not enough place for people to rent. I get a lot of phone calls from people looking for rentals which includes professionals needing furnished home for long term jobs.  

[Jay Hinrichs]

Quote from @Amanda Dallman:

The rental market in Wenatchee is strong with not enough place for people to rent. I get a lot of phone calls from people looking for rentals which includes professionals needing furnished home for long term jobs.  

 I like the furnish home rental  we did that in Vegas and get DOUBLE standard rents with top shelf renters  its a genius model really. 

[Amanda Dallman]

Quote from @Jay Hinrichs:

Quote from @Amanda Dallman:

The rental market in Wenatchee is strong with not enough place for people to rent. I get a lot of phone calls from people looking for rentals which includes professionals needing furnished home for long term jobs.  

 I like the furnish home rental  we did that in Vegas and get DOUBLE standard rents with top shelf renters  its a genius model really. 

 Yes, they are great investments! 

[Nik Moushon]

@Carl Polson @Steve Vaughan  Carl, meet ups are very informal and not on any regular basis...though I'm sure Steve wouldnt mind if we all started meeting up a bit more regularly. Its fun to catch up. 

Multi family is getting harder to make the number work unless you have some kind of built in equity to bring to the table (i.e. already own the land, contractor bringing his own crew, etc etc) at least for new build. Land, materials and labor are in short supply so prices are driven up. Its still doable, you just have to really make sure you know your numbers. Plus, big corps have already spread roots here so any big MF builds are coming from them for the most part. Lots of huge devs are planned in the next 5 years. 

[Kevin Phu]

I'm looking at a commercial deal in Wenatchee and this post shows some hope! I was just in Everett the other day on a business trip and wish this deal came to me a day earlier because I would've made the drive out there to check out the city. How has the population growth been? I've seen numbers like 23% since 2000 but I'm really curious what the growth has been like in the past few years. 

[Ellenjoy Lamneck]

Hello! I am new in Wenatchee and would love to connect with RE investors in the area. Would love to attend, if there's another meet-up in the future.

[Julien Jeannot]

I'm curious, what drives the economy in Wenatchee?

[Steve Vaughan]

Quote from @Julien Jeannot:

I'm curious, what drives the economy in Wenatchee?

Briefly- fruit orchards and vineyards,  hydro dams/ electricity generation, block chain / data centers, aerospace supply mfg, etc. 

[Julien Jeannot]

Quote from @Steve Vaughan:

Quote from @Julien Jeannot:

I'm curious, what drives the economy in Wenatchee?

Briefly- fruit orchards and vineyards,  hydro dams/ electricity generation, block chain / data centers, aerospace supply mfg, etc. 

Thanks! I also see a lot of hotels. Any idea if this is tourist driven or housing short term workers?

[Steve Vaughan]

Quote from @Julien Jeannot:

Quote from @Steve Vaughan:

Quote from @Julien Jeannot:

I'm curious, what drives the economy in Wenatchee?

Briefly- fruit orchards and vineyards,  hydro dams/ electricity generation, block chain / data centers, aerospace supply mfg, etc. 

Thanks! I also see a lot of hotels. Any idea if this is tourist driven or housing short term workers?

I would guess more tourist-driven but I have no STRs and don't track or anything.  

[Nicolas Lam]

I’m looking at investing in Wanatchee also. Would like to connect.