Investing in Puget Sound + Deal Analysis

[Chris Cantrell]

In my research, I am having difficulty locating properties that fit the 50% rule. Are profit margins slimmer in this area?

I am wondering if an altered 50% rule should be applied because property value is so much higher out here...

For example, consider the below property. Using the 50% rule I am showing -$188 (I am putting10% down). Perhaps my issue is that I am not putting 20%+ down?

[Zach Schwarzmiller]

Just shouldn't be looking in Seattle. Go North or South. I just tied up a deal that's 21.60% IRR on a conservative underwrite and 49.54% IRR on a aggressive underwrite that's within 60 miles of Seattle in a 3% sub-market vacancy.