All Forum Posts by: David Sweeney

Welcome to BP! Love the Bellingham area. It always seems so quiet, peaceful and green (in more ways than one!). 

Windermere has given me all the training I could want and then some. I went through a week-long training on working with buyers and sellers, and a week-long training on the ins and outs of transactions. They have lots of small training sessions for 2-3 hours on most any topic you are interested in like contacts and leads, social networking, Title information, etc.

I have also gotten some good training from the NWMLS on how to do CMAs, and use the MLS to find properties. They're free unless you want clock hours for the classes.

Pricey, yes. I'm looking for nice multi-family properties that will be very desirable for renters looking for the best neighborhoods, still close enough to downtown. Might not get the best returns, but there is something to be said for great properties in great neighborhoods. In other words, I'd want to live there!

Totally agree with what you wrote. Not every property is a deal, but there are definitely some in the Tacoma market that can still cash flow and there is some appreciation on the horizon. I believe more people will be looking to markets like Tacoma as other neighborhoods and cities nearer Seattle continue to grow too expensive.

I haven't explored Hilltop too much, as I'm focusing on Northend, Lakewood,and Central. However, I know there are many flippers interested in this area, and apparently making some returns.

Properties can be bought for appreciation, and properties can be bought for cash flow. It depends on your investment strategy, location, and your ability to create value. In some places, you can get both, but I agree it can be difficult. In Seattle, cash flow is tough but the appreciation right now is awesome! You just have to be able to get into the game and stay in. Renting to yourself (house hacking) is definitely a strategy that can help with this.

If you choose to invest outside of Seattle, appreciation will not be as high. However, you can find situations that create cash flow. For example, I have a 10-unit under contract in Longview. I am buying it for $690K, and my financial analysis shows that it will generate $1600-2000/month, depending on expenses. It will appreciate, but not nearly as fast as a property in Seattle. My goal in this transaction is to create value by lowering expenses, improving the property, raising rents to market rate, and to refinance when the time is right. This transaction should allow me to take advantage of both cash flow and appreciation.

I'm also analyzing multi-family properties in Tacoma, University Place, and Lakewood that will both cash flow and appreciate. If anyone needs help locating and analyzing properties, let me know.

You'll get hit and miss with this, depending on the tenant and what they are being paid. I managed an apartment building for a number of years and did it all myself, but the lawn and garden area were small and didn't require much work. Some apartment buildings have extensive grounds, which can definitely attract tenants. If you want to keep it nice and keep up the street appeal, spring for professional maintenance. If the maintenance is on the small side and is not a huge incentive to attract renters, having the tenant perform the maintenance for reduced rent might work for you.

I earned my real estate license specifically in order to invest in buy and hold and/or flip properties. I am currently buying a triplex in Tacoma. I know what I want in a rental property in that market and I am happy to help you do the same. Send me a message and we can touch base.

Welcome to BP! I've made an offer on a triplex in Tacoma but the inspection showed a lot of expensive work to be done. Still, I'm more encouraged by that market than Seattle, at least for those starting out. I live in the Ravenna area.

Thanks Randy White. I appreciate it. I spoke to CJ, but he only works Thurston County.

Thanks Tyler Blackwell. Just the kind of insight I was looking for. Anyone else work with CJ from Unique Remodeling & Appliance out of Olympia?

And thank you to Timothy Grothuesmann. I will be in touch shortly.