All Forum Posts by: Alex Chin

Hello @Sameer Patil, and welcome to the site! Here's hoping you are able to get answers to the questions you have, I would encourage you to set up your keywords and note the timing on the next BP Meet-Up in the Seattle/Bellevue/Tacoma area.

@Steven Lindenau - I echo the others and welcome you to the site, welcome to the Puget Sound real estate investment community!

If you're interested in reaching out and networking, I would recommend contacting @Kevin C. for an invitation to the local meet-ups in Lakewood, just a few miles from you. They area great way to meet other investors in the area in person, and start making those connections.

Be sure to respond and let us all know what it is you are interested in most as far as investing vehicles, or if you haven't chosen a path, i would encourage you to read the Ultimate Beginner's Guide, downloadable under the "Education" tab at the top.

Cheers and good luck!

@Caroline Weil- I am in agreement and feel that Tacoma is one of the few areas in proximity to Seattle that still has solid cash-flow opportunities for new investors just starting out on their path.

Currently looking to close on a duplex for $138K, hoping to get tenants in there at $700/month, but the value in the deal should be when I purchase a second attached duplex and refi as a 4-plex. Looking to re-fi and pull some of my money out of the deal with the value add of clear title.

 Austin, if you're looking to get into the Seattle wholesale market, you might want to contact @Julie Clark. She is a full time wholesaler/investor who also runs a REI group.

Hello Naomi and welcome to the community. Here's hoping for success and that you  and your husband enjoy living in Washington.

In addition to Tacoma, I would also recommend looking at some of the cities just across the water. Bremerton has a lot of possibilities, Olympia...and then if you go north, Marysville, and Mt. Vernon both have something to offer if you're after sub-$75K properties.

I would counsel you to keep an open mind on slightly higher-end flips though. Dealing with the cheapest of the cheap can easily backfire on you, exit strategies are more limited and financing can be a little tougher to get.

 Agreed, finding a buy-hold that will cash-flow in Seattle is...tricky. To say the least. I am sure some folks are doing it, but I certainly don't have the resources to follow that route.

I am just a small-time landlord with property in Tacoma, I like the area both for current cash-flow and a decent chance of appreciation, plus I have a cousin who lives there and it gives me a great excuse to visit her more often. 

Shoreline, Lynnwood, Edmonds. All good targets, although the spillover heat from Seattle is warming them up a bit too. I think as Seattle evolves as a tech hub, the entire I-5 corridor is going to see a rise. How long that will last? I certainly can't tell you, but I will say that your chosen areas are a solid bet for rising rents. I would also say that Everett might be a good spot to take a look at. The Navel base isn't going anywhere, Everett Comm. College is expanding, and Boeing (plus supporting businesses) is still going strong.

Might help other poster to make recommendations if you can elaborate a bit. Are you looking for entity creation? lease review? negotiation? etc.

 I would definitely look into renewing your license/bond. Couple hundred for the license, couple thousand for the bond right? Then at that point, you have a great way to present yourself as a partner for a deal. You pick a project with your partner, they provide financing, you provide labor/expertise, since they'll have more "skin in the game" so to speak, they probably get a bigger cut of the profits, but you get in and out with much lower personal risk, get experience, and can rinse/repeat until you get to the point where you are comfortable striking out on your own, or just keep working with partners.

Also, @Sonia T., let me know if you'd like a real estate recommendation. Very high energy, very good about communications at all hours.

Hey @Adam Christensen. Where are you looking for as far as location goes for your next investment? Still interested in Seattle or a bit further afield? Out of state?