Overpriced Multi-Family listings in Washington & Oregon State
I've noticed a steady increase in most Washington & Oregon state MFs to the point where these properties don't even come close to meeting the 1% rule & would actually be breaking even or taking a loss if purchased.
Are there any other cities/counties in the PNW (or elsewhere) where there's still some prospects for healthy cash flow?
Most Popular Reply
I think there is so little on the market- everyone is hoping for a 1031 exchange that can afford to pay too much. I will tell you that the cost of replacement is amazingly expensive. With the SDCs, increase in labor costs, increase in material costs, energy code changes, land-use changes, existing buildings are a BARGIN. Everything is getting more expensive:(