All Forum Posts by: Alex Wollin

Hello everyone! I am in search of a CPA in the Seattle area to assist with my financials and future investing plans. What are some of the things you look for when working with a CPA? Any advice or help would be appreciated!

Hello! I was fortunate enough to have purchased a property a couple years back and have since pulled a HELOC out to leverage money and buy more property. I currently live in Seattle and have great difficulty finding anything under $800,000. Although there is house hacking and other strategies, my question is - How did you get started in out-of-state investing and what was the result? I appreciate all of your input and help! :)

Such an awesome accomplishment, Peri! Great job!

1. Back in 2020 (I was 22 at the time) I was, and still am currently working fulltime at the fire department and wanted to earn extra income. Had heard from STR owners that they earned a steady passive income from AIRBNB and VRBO. That gave me the goal to get my foot in the door with REI and STR.

2. With the help of an awesome realtor/friend, bought in a brand new development and moved into my first property. The house was a 3 bed 2 bath. I rented one room to a friend of mine, and the other room as an STR that would remain relatively busy. From renting out both rooms I was able to put that money towards furnishing the house and prepare it to become a full STR.

3. A year later I moved out and turned the entire house into an STR. The house now stays steadily booked throughout the year, bringing me positive cash flow every month.

New goal. I have since leveraged cash on the house and am ready to expand my real estate investments. I will admit, setting goals is hard and even more so to follow through on said goals. With that being said, I am going to utilize The Intention Journal that you mentioned. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $269,000

Purchased a brand new home, lived in it for a year and turned it in a STR

What made you interested in investing in this type of deal?

Don’t have to deal with long term renters. More money earned each month.

How did you find this deal and how did you negotiate it?

Bought in a growing area where the real estate market was rapidly rising.

How did you finance this deal?

First home buyer so used an FHA loan

How did you add value to the deal?

Did all the landscaping and put in amenities that would attract more guests.

What was the outcome?

After all expenses including the mortgage I profit at least $1,500 a month consistently.

Lessons learned? Challenges?

Learning how to manage it to the point where almost everything is fully automated. Take care of your cleaners and maintenance team and they’ll take good care of you.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes! New American Funding in Oregon were my lenders. They were incredibly awesome and walked me through the entire process of purchasing my first home. I would recommend them to anyone. My realtors were the Coats, found in Tri Cities, Eastern Washington. They too are investors and look for good deals for their clients.