All Forum Posts by: Arthur Bates

@Aaron Hunt I buy the majority of my properties near military bases. Being former military myself, I know how the system works. I have never had an issue with any of my rentals while renting to active duty in the past 10 years. I am not sure how many of these types of stories you have heard/read recently but please don’t let this put you off to renting to military.

Hello Nicholas, Welcome to BP. I too live and invest in Kitsap County and I agree with all in saying this is a hidden paradise full of great REI opportunities. Please feel free to reach out if you have any questions. My contact info is in my profile. I would be more than happy to share my knowledge and lessons learned with a fellow investor. I wish you all the best in your REI adventure.

Hey Jacob, welcome to BP and thank you for your service. There are lots of opportunities in Kitsap County and beyond. It's awesome that you are starting on investing early. Assuming that you are starting locally, there is a wealth of knowledge here on BiggerPockets and you may want to seek out your local REIA or REAPS chapters to do network and get information on the local area. Please let me know if there is anything that I can do to help you get started as well. Good luck on your real estate investments.

Hello All, I am new to the D.M.V. area and I am looking to pick up with my wholesaling and buy & holding properties like did while living in Washington state. I am trying to learn the area and the market. I am looking to make a few contacts and receive sage advice on where to look for properties and help finding a good REIA to join. Thanks for your time.

Hello All, I am new to the D.M.V. area and I am looking to pick up with my wholesaling and buy & holding properties like did while living in Washington state. I am trying to learn the area and the market. I am looking to make a few contacts and receive sage advice on where to look for properties and help finding a good REIA to join. Thanks for your time.

Hello @John Fulmer,

I am also a REIAWA member interested in commercial real estate. I would love to pick your brain on the subject. Maybe I will see you at one of the REIA meetings.

Hello Jamerson,

I have properties here in Bremerton, most are rented to Military. One of the properties was rented to 3 people from one of the ships here that just wanted to live off base. The moved into one of my 3 bedroom SFH and they were there for two years. I did initially have some reservation on renting to them but I did. I never had an issue with them as tenants and the rent was always paid on time. Before I rented to them, I left my card with the neighbors on both sides and across the street to give me a call if they were experiencing any issue with my tenants but I received no calls or complaints. When they moved out, the place was just as clean as when they moved in. This is not to say that you won't have a problem, but as @Justin Peila and  @Jason Hirko mentioned, there are avenues to resolving issues with late rent or non payment. I will say, try to work with the tenant first and contact their Chain of Command only as a last resort if you do have issues. Good luck.

Hello Mark Yarbough, Welcome to BP! I am also a local invested here in western Washington. I currently own 4 rental properties and in the process of purchasing two more (we close at the end of the month). Most of my properties are in Kitsap County in the Bremerton - Silverdale area. It seem we have a lot in common. I too am in the IT field and I am buying rental property so that I can replace my current earned income with passive income. So that I can start traveling. Its kinda hard to do the things I want, when I want, for how long I want while I am tethered to a job. I have recently started looking in Grays Harbor County focusing on the Aberdeen area. I would love to talk to you and compare notes on the area. Since I don't leave there it would be nice to speak with someone in the area. I am willing to share all that I have learned while investing in rentals. That is the great thing about the BP community, is that everyone is willing to share what they have learned. So, good luck and feel free to reach out to me.

Hello BP Family,

I am looking to expand my search area looking for good "Buy & Hold" investments.  I have currently started looking in Grays Harbor County, WA.  I was wondering if some of the current investors in the area could give me some insight to the rental market in Aberdeen, WA?  I would deeply appreciate any info I can get.  Thanks all!

Assignment available for an apartment complex purchase comprising of three separate buildings totaling 6 units. This property is located in an family friendly neighborhood with access to Downtown Bremerton, Public Transit and Ferry Terminal. Apartments are currently 100% leased.

The building itself has little deferred maintenance making this a turnkey project poised for immediate cash flow distributions. New roof and new paint within the past three years. Rents are currently under market with the potential to increase rents immediately by a 3%-6%. The building also has non-leased on-site Laundry for extra income.

Just adding management, raise rents and billing back utilities increase the value cash flow immediately. The resulting re-positioning will create an asset that provides both cash flow and positive equity growth.

Terms of the Deal.

The Owner is willing to take back 80% in short term seller financing at an interest rate of 4.75% with a cash out payment in 5 years. With these terms the Cash on Cash (CoC) is 15.49%, however with just billing back utilities with a 4% rent increase will boost the CoC percentage to 19.78% with an Annual Net Income of $32,549.27.

With the adjustments in raising cashflow, this property will be positioned perfectly for Cash-out Refinancing. Pull your initial 20% investment out and watch the infinite return flow in.

Please contact me form more information. Interested parties must sign a NDNC Agreement for details and location of the property.