All Forum Posts by: Eric Yu

There will be free food and free drinks! Perfect place to network with new real estate investors, house hackers, and folks who are breaking into the short term rental space!

Agenda for the evening:
5:30-6:30 PM: Grab some food & mingle
6:30-7:15: I'll be talking about my 2 latest acquisitions: 1 new Airbnb & 1 Rehab/DADU Project
7:15-8:30: Eating, drinking, and networking! And remember, don't forget to follow up after you go home!

You don't need to have any experience with house hacking or real estate investing to come. You can simply just come to have a good time and learn from others. We hope to see you there!

0 Votes

Seattle, Washington

Quote from @Nicholas Chan:

Hi everybody,

My name is Nick, I am recently impacted by the mass tech laid-off. I am in my early 30s and I own 2 properties in Seattle and 1 in California (a townhome, an apartment, and a single-family in CA). I have used the condo and the single-family home for STR but only the condo is bringing in cash flow which offset the losses from the single-family home. I am currently jobless, still looking for a gig but it's been challenging because I work in the recruiting industry (not a good time for recruiting). Luckily I have a small side business that brings in about 4k/month, all of my properties are covering the mortgage and I have enough money saved up to sustain for another year or two, I am still hoping to continue my RE journey but am usure what my next move should be. Hope I could get some advice and learn from everyone here :)

Nick

Hi Nick,

Really sorry to hear that. I previously worked at Meta as well before quitting and focusing on real estate full time. Given that you have enough to cover 1-2 years of costs, I would recommend finding way to generate extra income. With the severance package that Meta offers, you can definitely take a few months to keep building out your side hustle and/or finding other ways to keep growing in real estate (wholesale, Airbnb arbitrage, becoming an agent, etc.)

If you want to hear about the transition out of Tech, feel free to shoot me a message. I wasn't impacted by layoffs, but I voluntarily chose that path & it's been great so far.

1 Vote

Seattle, Washington

Quote from @Ananya Mohanty:

Hello ,

We are a couple in early 30s. We have just moved to Washington state and have no idea where to buy our first home.

looking for atleast 3bed 3 bath with a backyard , budget = max 1mil.

We know seattle, bellevue, redmond are out of our budget. Would love some advice on upcoming nearby cities that make sense to buy now considering light rail is expanding?

Hi Ananya! You could totally find something in the Seattle market at that price point. Would love to chat more to see if I could help you out.

Alternatively, there's options in Renton, Seatac, and Burien if you're looking for something more budget friendly. $1m is a lot to work with here :)

0 Votes

Seattle, Washington

Hey Franklin,

Welcome to BP & Seattle! I'm an investor agent here that focuses on getting people their first house hack, Airbnb, or fix/flip project. I just finished my 1st big renovation as well (check out my profile for the #s / results). I'm going to working on a DADU project shortly, so if you're curious to check out the job site, shoot me a message!

I used to run a short term rental property management company, but recently offloaded to a business partner. If that interests you, let me know & I can make the connection. Cheers!

2 Votes

Seattle, Washington

Quote from @Angela Grantham:

I have always been interested in real estate and grew up watching my grandparents managing multiple rentals. I am not planning their exact path but something like it. Real estate has always intrigued me and feel like there is so much that can be accomplished with investing in a project, making it something, and then seeing the return for it. I have no experience in real estate or investing which means I know I have a lot to learn and multiple podcasts to watch before I can get going. I want to make sure I learn everything I can so that I make the best decisions possible throughout the process. I have worked most of my life as an administrative assistant and going to college for my associates in business administration which gives me the administrative background to be able to succeed in real estate. I am actually in Whatcom County so I would want to stay around here or even Skagit County. My goal is to invest in places that I can turn into short term vacation rentals, in a hotel, and eventually invest in rental storage units. I am literally starting from the bottom of all of this and figuring out my steps so please, any advice, coaching, and support is very much welcomed!

Hi Angela! Welcome to Seattle. If you want to get started in your journey, I would highly recommend attending meetups in the area. I run one on the 3rd Thursday of every month at Umpqua bank. That would be a great one for you to check out; it's for new investors, house hackers, and vacation rental folks.

My personal specialty is Airbnb, so I'd be happy to chat more with you about markets that work & markets that don't. Shoot me a DM if you want to chat more.

Happy investing!

0 Votes

Seattle, Washington

Hmm interesting... would think this violates RESPA, but interested to hear more.

0 Votes

Echo'ing what @Dennis Nguyen said, it really depends on your goals with buying property.

Seattle is not going to be an optimal place for cash flow (unless you buy something distressed that requires a lot of rehab work). That said, the appreciation here is kind of nuts & I'm personally really bullish on Seattle as a market over the long term.

Alternatively, there's another strategy in Seattle that works pretty well with building DADUs on lots that can support it, but it's going to be a more cash intensive play. I'm doing a project like that in Seattle right now, so if you're curious, follow along on my Instagram: @helloericyu

0 Votes

Quote from @Dan Guenther:

Hey @Drew Osifalujo - definitely get out to local meetups! I've met some of my best contractors via meetups.

Also, hit up my realtor friend @Eric Yu who holds it down out in your neck of the woods in the investor-friendly agent game. I'm sure he can connect you with some of his go-to contractors in the Seattle area.

Thanks for the shout, Dan! @Drew Osifalujo, shoot me a DM. Definitely recommend going through the referral route. It's really hard to gauge otherwise.

0 Votes

Quote from @Sai Venkat Vara Prasad Masaram:

Hey, I am a newbie trying to get into Fix and flip in Seattle, Just trying to get info and insights on how to get started any help would be very much appreciated.

Hi Sai! What kind of experience do you have in real estate so far? Do you have capital to put toward a Fix/Flip project? Are you trying to find partners to get into deals on?

What are some more specific questions you have around Fix/Flips?

In my opinion, real estate is really a networking game. It comes down to finding great people to work with, people that you can trust, and going far together. For more technical things, you can lean on your contractor. For finances, you can lean on private money or hard money lenders. For acquisitions, that's where myself & other folks can help (in identifying good opportunities & deals).

If you have other questions, shoot me a DM!

0 Votes

Seattle, Washington

Quote from @Nick Decater:

Hello All!

My name is Nick Decater and I am an aspiring RE Investor in the Greater Seattle area. After being exposed to the BP community through Podcasts, Social Media, Books, etc. I thought this the perfect place to reach out and network with established investors and fellow future investors. Although I may be a little ways off from making my first purchase, I have my sights set on beginning my RE journey through a House Hack and scaling from there.

I would love to network with any and all members of the BP community viewing this post, seeking advice in all aspects of beginning the REI process (Traditional/Creative Financing, Finding the Perfect Market, Building a Network). As a newcomer to the working world (having graduated college only a year ago) I would love to talk with other community members to discuss the building blocks to success in this industry.

Although I currently live in the Greater Seattle area, I am still open to making connections throughout the US and exploring options in other markets, given the cost barrier to entry in my current market.

If you are an experienced investor with knowledge and wisdom to impart, an agent or lender well versed in REI, or even a fellow newcomer to the community, I would love to connect and continue to learn from your experiences! Feel free to leave a comment below.

Hey Nick! @Albert Bui & @Michael Haas host great meetups. I also run one of my own with The FI Team Seattle. You can find it on Meetup.com as well :)

Our next meetup is on 4/20 from 2:30-4:30 at Top Golf in Renton. It'll be a pretty casual event; come by, say hi, and play some golf!

4 Votes

Seattle, Washington

All Forum Posts by: Eric Yu

Eric Yu has started 24 posts and replied 228 times.

Post: 5/18 House Hacking / Short Term Rental / RE Investor Meetup

Post: I lost my job at Meta but I own 3 properties. Not sure what to do next

Post: New to Seattle Area, need advice on neighborhoods

Post: Looking to partner in and learn house flipping

Post: Preparing to start the real estate investment journey

Post: Real Estate Agents Can Now Get Paid on Mortgages

Post: Buy Property in Seattle

Post: How to Select an Investor Friendly General Contractor

Post: Newbie to Real Estate

Post: Future Investor//Networking Opportunity - Seattle Washington