All Forum Posts by: Erez Toker

I’d argue that BELLEVUE, WA Is an amazing place to invest for appreciation- which is speculation to be clear. 

Our job growth is stellar, the scarcity issue will compound-  read the growth management act and the buildable lands report and you’ll be blown away by how few single family homes are coming online.  Every city in King county North of Burien and Renton are  70-95% focused on multifamily and mixed use for all new development.  That will have a huge impact over the next decade.  Make no mistake about it, the politicians are forcing the European model on us, here and much of it will play out over the next decade.  You haven’t seen anything yet.   BELLEVUE is a fantastic place to do it!  If your window is short term- you shouldn’t be a buyer.  You should rent.  But renting has no guarantees either.  Many owners are cashing in on this cycle.  I’m renovating a client’s house for sale right now that was collecting below market rents.

I prefer to help my clients build wealth through various hold techniques like live-in flips and helping them with value add renovations.

For cash flow, we traded one BELLEVUE property and executed a reverse-improvement exchange, and a forward exchange to buy in Florida and Tacoma... just in case the market turns this will provide a softer landing.  

Our commercial office rents would have to increase by 50% or so to equal psf rates in SFO.  We are more tax friendly in Bellevue than Settle or SFO, and every major tech company in the world has a seat in Seattle real Eatate and is vying for more. 

@Jack B.

Easy- Explain to him that’s cool and all, but you’re there to video the unit to post all over social media to boost traffic. His call.

@Joe Lui

We own and manage our rentals throughout King county, and one in Pierce.

Prefer to self manage for a lot of reasons.

RHA is a great way to stay on top of rental laws, great help desk. I imagine I'd you have a Washington registered agent service for your WA LLC.

@JATIN KALRA

Hello

We own and manage SFR properties in Bellevue, north, south and downtown Renton, commercial in Des Moines, Multi in Tacoma and ... multi in Florida

I’d love to connect with you and discuss details.

@Daniel Purcell

Had a client with one last year. Closed well within timeframe allotted.

@Daniel Purcell

Had one last year closed well within timeframe.

So, I recently moved my license to Compass Washington in part for their exclusive Concierge program.  This is by far one of the coolest tools available in real estate today. 

I’m going to start by saying I’m a broker, I recently got my GC license to help facilitate renovations for my clients.  I’m not an accountant nor am I a 1031 exchange facilitator... but I have become familiar with how to leverage both to help manage our/and family portfolio for many years.   I have executed both 1031 reverse-improvement and forward exchanges, renovated our properties, coached clients and colleagues renovating their homes/rentals and long ago fell in love with the power of real estate and it’s impact on helping people build wealth. 

Compass Concierge provides a new way to hyper accelerate investor’s growth.  let me explain.  

Due to progressing disease of a relative in the family, we decided to offload a house that had been part of the portfolio for 33 years or so.  We executed a value-add renovation on the property prior to sale. The renovation cost about $55k that got sucked into the deal... We set a $PSF record when we sold.  Now, what  investors have $55k in cash sitting around?  Not many.  Most investors are cash poor- especially if they are building out their portfolio.  Sometimes They can borrow against a property, use hard money... all time consuming, unsure, and often expensive solutions.  Enter Compass Concierge.

So, how does Concierge work?  It’s best described by visiting www.compass.com/concierge/erez... website: 

Get fronted for the cost of home improvement services with no interest — ever.

I know it sounds too good to be true, but I will tell you this unicorn is real and it does have rainbows! 

I’m currently using this program to replace a roof, kitchen, baths, refinish floors, replace doors, trim, electrical panel, etc in a client’s hiuse and the listing goes on.  Client has their choice of contractor (me in this case) OR if they’re really handy they can get this program in a debit card where they can do/hire out the work themselves.  In this case, we are going to add a ton of equity through  value-add renovations that my client will keep well above what we are putting into it.

Roughly, how could this work in an exchange?  

If a client had a wholly owned house worth $500k net-proceeds would be about $450k or so after selling fees, excise tax, facilitator expenses, etc.

If client uses Compass Concierge for $50k to execute value-add improvements on the property, new sale price is around $600k, les $50k paid back to concierge, net proceeds are about $490k.  Comparatively the client bumped value by $40k in this illustration.  That’s an additional 8% bump in value.  When client replaces this property they can then either pay boot on the concierge $50k, or pay the boot!

Now, concierge does have some qualifications and restrictions. But it is great tool for many in many instances.

At least that’s how I understand a deal like this example breaking out. Maybe a pro like Dave Foster can review my hypothetical scenario and chime in on this one to see if I need to make any edits :)

I’m here to help any of our investors in Washington state with their personal or investment property.  Let’s go add some value, and build some wealth in Real Estate!

when traveling, I often use a French press, but Your plumbing will get fouled up if guests don’t follow your instructions to dump the grinds in the trash.

An Aeropress could be a good option, too.  But as I’m thinking about it, a V60 pour over, with Melita filters, or a “Clever” pour over could both be great options for you, and would provide memorable coffee service to guests.

personally not a fan of K-cups.

Nice work!

@Cassi Justiz

I also use the open house format quite often and don’t mind stacking the appointments. I also add one, and possibly a second subjective criteria depending on the market:

We process applications in the order which we receive them. However, if an applicant offers

1. More money

And/or

2. Longer term

Those get processed first.