All Forum Posts by: Brandon Vukelich

Ditto to what Brad mentioned. Really depends on the location, size of property, local demographics (tenant needs/wants), etc. I definitely believe dishwashers and washers/dryers generally will increase rents just about anywhere. But you could consider anything from adding free wi-fi or storage lockers to bigger investments such as carports. Check what your competition has to offer and the rents. That should give you a decent baseline for comparison sake. Also, you should consider your ROI. Will it take a year or 10 years to recoup costs by the increased rents?

Congrats @Timothy Gordon!  Welcome to the group of 32k+ other licensed brokers in our NWMLS. I see you're in Puyallup. Very cool!  Your question is a bit vague to answer.  It depends on where you plan to take your business.  I've worked for JLS, KW, eXp and even had my own brokerage in Seattle. Shoot me a DM if you'd like to hear the pros/cons of each.  If you want to be a great residential broker, then I don't think you can go wrong with KW or ReMax. (My stepsister is VP for Remax NW, btw).  Don't get hung up on splits, fees.  That's what most unproductive brokers do.  All the big companies offer great training, fancy tools, concierge programs, etc.  I came to Blackwell because I'm an investor and all of our brokers are investors.  We focus on multifamily more than anything but many brokers still do residential as well, me included.  Happy to connect in the near future.  Best wishes on your journey!

Just fyi, I wouldn't say Seattle-Tacoma is across the board 3.5-3.75 cap. Don't get me wrong, still nuts out there. Seattle definitely skews 3.5-4.5 but we still see props trade in Tacoma above 4.5. Not saying that's great but 1+pts better than 3.5. For example, The Azul in Tacoma, 33 units, sold at 6.5% in April. There are still opps out there.

Find out who is flipping the deals in the market you're working. For example, you could search zillow past sales for the props you can tell have been flipped (look through pics), use county records, skip trace the seller and ask if they want more deals. Not sure how the public records or MLS works in your area but in WA (I'm a licensed agent) and our listings contain the name and phone number of the seller, unless they sign a doc to keep their info private. I went through and searched all the flipped properties over the previous year, called the seller (usually the flipper) and asked if they wanted more deals. Nearly 100% of them said yes. It's not a tough conversation. "Hey, I saw your awesome flip that just sold. I occasionally have some off market opportunities, are you interested in more deals?" I built a list of about 80 buyers in less than a week. That was 2 years ago and honestly, all of my deals basically go to 1-2 top buyers that I know will close. You don't need a lot of buyers if your deals are good. Best wishes in your search!

Not sure what you mean exactly when you say "simple" way to analyze a deal and "good" is very dependent upon the investor. I use a "snapshot" spreadsheet from our office to run some basic numbers on small deals and a more advanced spreadsheet (provided by my mentor group) on the bigger or potential syndicated opportunities. I would say it's a potential good deal if it meets your criteria on ROI, Cash on Cash, CAP, growth, etc. Keep in mind, some "good" deals look good on paper but maybe the area, demographics, local laws, etc make it more of a bad deal in reality. Best wishes on your investing journey!

No, we already charge a premium rental rate so all utilities are included.  I'm sure every operator has a different idea on how to manage utilities.  We keep it simple for guests.

Here are a few tips I keep in mind.

1. Find them off-market opportunities.

2. Connect them with opportunities outside your service area (i.e. Eastern WA, other states).

3. Help them look beyond the financials for a deal.  Understand the job, income, population growth and demographics of an area. Also, knowing the anti- or pro-landlord policies in an area/city.

4. Assist them with due diligence and know how to be thorough about it.

5. Align them with solid vendors such as property management, if they are wise enough to hire one.

Also, owning your own portfolio of properties helps show that you have experience.  Best wishes on your journey as an agent!

DISCLOSURE: I'm not licensed to give tax advice.  But if you have lived in the rental for 2 of the last 5 years, you should be clear up to $250k/individual or $500k/couple before you're hit with cap gains. Here's a reference:

https://www.jonathanpond.com/h...

If exposed to cap gains, exchanging into another property is probably worth considering.

https://www.firstexchange.com/...

Regardless of the above information, I highly recommend you run your scenarios by your CPA or tax advisor.

Honestly, I wouldn't bother with spending marketing dollars on something like as a new agent. Any mail I get goes right in the recycle/trash. You are better off using whatever funds you have inviting people in your sphere out for coffee, a light lunch or beers/wine after work...or host a happy hour for a dozen or so people. Better for you to network face-to-face. Your goal right now should be to have conversations about real estate (buying, selling, investing, etc) with a handful of people every day. If you're not that social, focus on creating videos to post on Facebook, Insta or a Youtube channel. Not sure where you are from or what you intend to focus on but pick a neighborhood and instead of sending coupons for businesses, go out and shoot a video with local business owner to highlight them to your sphere. Share why you like the business, what they offer and why everyone in the "neighborhood" should check them out. That's free, just takes time and effort and that content will be out there forever. Best wishes in your RE journey! 

Agreed, sep metering is best but it may not be financially feasible for you for one reason or another.  Highly recommend implementing RUBS as allowed by your area, leases, etc.  There are plenty of 3rd party vendors to manage the process for you.

https://www.guardianwp.com/rat...

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