All Forum Posts by: Julie Marquez

@Nik Moushon Love the layout! I think laundry on lower level is key, especially is you have your tenants provide the W&D

@Nik Moushon Thank you for the detailed post. As someone who has gone through all of this, I enjoy reading that I'm not the only one with City platting issues (you need me to run utilities before you give me an address, but the utility company won't do anything until they get an address), bank slowness and rules, crazy GC pricing, and construction material constraints.

About once a month we bring up the idea of prepainted Hardie. The allure of a solid refinished material with a warranty is enticing, but then why isn't everyone doing it? I worry about caulking and touchup and nicks of the finish from material handling and the life of the product.

Having just designed our second duplex with a drafter, I've looked at every single floor plan arrangement. What is the width and depth of your building? I'm sure your plans are perfect, I'd love a sneak peak. Was a garage required?

When did the hospital building in Wenatchee get so big? I love your new cute farmhouse, maybe looks tudor to me. Does that old house require work and do you guys plan on staying there for a while? I'm looking forward to keeping up with your project! 

I love the idea of making it a townhouse. I never thought about it for our duplexes, even though they have 2 hr party walls, because we always seem to get these leftover end of the culdesac, one long driveway off the street, lots. And our City (for example) is 9000 sf duplex and 6000 sf single family, so it's not exactly doable, but I love the idea. I'll keep it in my mind for looking at future developments. And with townhomes (zero lot line) you don't have to get into HOA things? Oh yeah, love all the info about contracts, dry, but I also love that stuff because it's important!

I'll have to look, but I though my bank (WAFD) went off of duplex sales, which there are none. They actually just went off of the last duplex new build that our friends did a year prior (but did not sell either). Our bank was quick with the draws and payment, which was nice, even though you still have to wait for installation. How much contingency did they require?

Fun stuff, I look forward to following along more!

@Rylan Lacey I've never seen that model until I visited PHX in December (for a hot pool and sunshine vacation!). I'm in the north of Seattle area building duplexes for ourselves. I think it's genius to do a development like that and want to do the same. Sorry, I don't have any answers to your questions but would love to learn along with you.

@Otto Haffner I wonder if @Gabriel Rascon has come up with any info that could help you!

@Rylan Lacey I love this thread and solution to building more rentals! We build duplexes in our area, and it's easy to get financing since most banks just regard it as two houses, and easy to build since it's just two houses. I'd love to build more units in our area and do what you and @Chris Blackburn are doing. We have building experience and have a GC and subs, just need to find land and scale up my knowledge of what some of these bigger projects require (ie fire sprinklers, riser rooms, upsizing water meters, larger funding, etc.). Thanks for sharing what you are doing, I'd love to hear how it's going and connect more.

@Matthew Gibson Hi Matthew! You're first deal isn't going to make you millions, but this one isn't going to leave you broke either. I think it's a little over priced. I just sold the home at 1210 14th Street for $423,000 with 10k in seller concessions, so I'd worry about yours appraising for $456k. This comp also had a beautiful updated kitchen and bathrooms, but with 3 bedrooms. The potential I see with homes in this neighborhood is the generous zoning. This lot could be subdivided into two lots or be a duplex lot as is. You could build an ADU on the property. I was hoping the shed could be a dwelling unit but the pictures of the foundation made it pretty obvious that there was nothing to be saved. I like the neighborhood but it doesn't scream "family friendly" to all. It for sure will appreciate by the time you want to sell and your VA loan product is too good to pass up. I think $2000 to rent the total house is doable, and I like the layout for having a roommate. Reach out if you have any other questions, I'm an investor and right here in Anacortes. And if it appraises for less you can always bring that back to the seller in hopes he will lower the price. How long have you been looking? There isn't a lot of inventory in Anacortes, but it is a great market!

@Bennet Sebastian Sorry to hear business is slow for you guys. What's your specialty? I work for a high end custom home builder and we can't' stop getting inquiries and our schedule is full. I have no comment to referrals, but I like your creative thinking here!

@Jordan Murrell I love your story and your mindset shift. Way to get after it this year! It sounds like you've found yourself some great deals, and I say buy them all. If the numbers work on all the properties, you've got a great problem on your hands. Are they single family or multifamily? Can you purchase them with owner financing? What's the hang up on not buying them all? Could you wholesale the ones your don't want?

What you might need are partners. If they are a good deal, it should be easy to find people that want to get in on the deals too. BP is a great place to find partners, and we've been looking for NV or AZ investments too. If the numbers work, people will want to help you and maybe you'll have 75 properties in 12 weeks!

@Jenning Y. Wonderfully written post, thanks for sharing. We invest locally so that we can manage the properties ourselves. It is our job (flexible and on our schedule) and it pays us, so it's a win for us. I keep looking at PM companies and running into the same problems you have. Luckily our appreciate is high (and rent increases are high) and this is a long term legacy game for us.

@Collin Schwartz Congrats on the overnight (4 year!) success! And much thanks for this long post sharing the habits that go in to the highlight, along with the real unit count. You sounds like the real, humble deal. Your partnerships - are they with many different people, how many different partnerships do you have? And big congrats on starting such a successful networking event, you obviously have value to provide!