All Forum Posts by: Adrian Chu

Eastside does not work. Purchase price is high and rents are actually low. Renters don't "love" renting in the Eastside and thus they don't pay a premium to live there. Areas like Seattle or up north like Everett and surrounding cities or South King / Pierce county works better.  You will see that a $1 million house in the Eastside rents for the same as a $500,000-600,000 one in Seattle and maybe an even lower priced one further out.  

If you are looking for a short term place to stay during renovation, there are builders waiting for permits on homes and those could be good win-win opportunities because a lot of those homes are livable. 

Despite what you may hear otherwise, Seattle has a LOT of strong rental demand from both short term and long term renters.  It also has super friendly land use codes for small builders/developers.  The best areas for STRs in Seattle are Central District, Capitol Hill, Judkins Park and Queen Anne, basically in areas close to the downtown core.  Best of luck and happy to chat more.

If you are willing to put in the extra work, co-living (room rentals) and short term rentals provide more cash flow.

 How about Seattle?  Get the benefits of being in the west coast and no state income tax.

 Yeah, I don't have the mindset to invest in stocks.  I constantly stay liquid (and want to avoid having to sell stocks when it goes down) to be able to pursue real estate opportunities as they arise.

We've worked with a church to purchase an office building to use as the church while generating cash flow from other office tenants.  The church raised funds from its members for the down payment and then got a commercial loan to purchase the property based on its rental income.  Then, the renovation work was done thru volunteers with some professional help.

Hello Katerina, I am a developer in the Seattle area. My areas of focus are Seattle, Bellevue and Kirkland, but happy to connect about Renton as well.

 That link explains everything.  Other cities in the Seattle area are more flexible. For example, Seattle allows each dwelling unit to have 8 unrelated people live in it, and even more if there are ADUs on the property.

I would explore all options for the owner-occupied business loan. Check with a commercial mortgage broker for all the options beyond SBA.

It is better to move each year and take advantage of 5% down primary residence loans. That's the fastest way to scale. Building a dadu and selling it is profitable but the cash on cash return and opportunity cost on missing out another purchase is significant. You will also need equity to get a loan for construction. If I could go back in time, I would focus on getting 10 properties first. And then think about building.