All Forum Posts by: Michael Haas

Great answer @Ricardo R.! In High Cost of Living markets like Seattle, where its hard to identify on a property within 45 calendar days, myself and other investors will sometime skip the 1031 exchange unless the gains are nearly $75k+ ($10 - $15k tax burden). In addition to the costs Ricardo outlined, know that if you fail to identify a property your cash will still be locked up for the full 180 day closing window, which has some serious opportunity costs. We also find that 1031 investors sometimes settle for a less optimal property to meet the tight deadline - another hidden cost. For me those potential downsides mean that I need to have a $10,000 + tax savings on the line to do an exchange, but others might see that differently. 

Hey Red, welcome! As Aaron mentioned, meetups are a great way to get started. We host one in Fremont, Seattle on the first Thursday of every month (tomorrow is the next one!) - search "HouseHack Seattle Meetup" & we should come up. Hope to see you in person sometime, and happy investing in the meantime!

@Katherine Perez if its two dwelling units how does it pencil as a LTR? What STR & MTR operators are increasingly realizing is that optionality is important - if it pencils as a LTR thats a nice safety net if regulations change or MTR / STR traffic is less than you'd hoped.

Investment Info:

Single-family residence wholesale investment.

Purchase price: $69,000
Sale price: $79,000

Ocean Shores off-market fixer wholesale STR

Investment Info:

Small multi-family (2-4 units) wholesale investment.

Purchase price: $900,000
Sale price: $933,000

Subject-To Wholesale of 2.9% Mortgage triplex in West Seattle

Investment Info:

Single-family residence wholesale investment.

Purchase price: $500,000
Cash invested: $3,000
Sale price: $550,000

SFH + ADU + DADU project wholetail

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $525,000
Sale price: $575,000

Stevens Pass Wholetail #2 - off market pickup (wholesaler) then close & wholetail

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $82,000
Cash invested: $1,000
Sale price: $132,000

Off market (direct mail) purchase then Wholetail

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $82,000
Cash invested: $1,000
Sale price: $132,000

Wholetail

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $295,000
Cash invested: $60,000
Sale price: $400,000

STR Cabin Flip