All Forum Posts by: Rudy Manna

 Yes.. Flipping is definitely possible in Shoreline, Bothell all the way upto Everett. But in Tacoma-Puyallup-Lakewood market its a high risk low return scenario. I personally know 3 projects  where the principals either ended up renting or losing money. 

1. Margins are very low, hardly 10% of ARV. One surprise during renno or additional few months of holding, there goes all your margin.

2. Try pushing the value by high end upgrades and your customer base become so thin that its going to sit in the market for a long time. There are not that many deep pocket buyers in the Tacoma market ready to pay premium price.

3. An empty house in Tacoma sitting in the market for 3-4 months have huge vandalism risk. 

Here is the posting on a recent BRRRR in Tacoma Market..

https://www.biggerpockets.com/forums/223/topics/41...

Recently picked up a deal in South Tacoma that has potential of subdivision. Looking for referrals for professional surveyor who can help with the process . Also, any rough idea how much they charge.

@James Marszalek  @Jan Wanot

$40K profit after selling costs is outrageous in Tacoma market where the average price is around $250K. Those kind of margin simply doesn't exist. Either you will be waiting a long time, or take huge risks, or base your numbers on ARV estimates that are super inflated. Will love to hear if people are having consistent success, or its one off, occasional getting lucky kind of flip.

We work on BRRRR with 20% margin (excluding selling costs of course) and 1% cash flow, and though getting difficult, is replicable with little perseverance. Holding costs are much lower in BRRRRs. We are picking one or more houses per month. Will see how the year goes.

And, yes, wholesalers please send me your deals.

Considering buying a house which is 4/2 in MLS. However county says 2/1. There are 2 bedrooms in the attic space. However the square feet matches (both of them 2000 sq ft).

I called up county and they couldn't find any permits on the attic space bedrooms. Which means the bedrooms in the attic space most likely are not permitted. However the house has been listed as 4/2 in the MLS during the past two transactions.

What does this mean in terms of valuation? Does this mean we may have problem during selling in future. Any guidance is highly appreciated.

If I am to buy a house full of squatter trash, how much does it take to clean the trash. Are there companies who provide such services? Any ballpark estimate to clean up a 1300 sqft house?

As i understand, Freddie and Fannie Mortgage have different set of criterion for 1-4 and then 5-10 mortgages. However,when they count is it per person or for the household? The reason ask is because me and my wife individually own several houses and wanted to know how the rules apply.

Thanks in advance

Got a couple questions related to renovating commercial real estate (Seattle area). Plan is to open a new store:

1. Any referrals for a architect who can help with permitting process and drawing (Seattle area).

2. Any rough cost around getting the drawing for permitting.

3. I was thinking of an interior decorator for the design. Do you get a designer and an architect too? Or just one of them is enough.

Thanks in advance.

 Tacoma one of the hottest market? Where are you getting the info from? I'll be surprised.

Try Attorneys Title. Ticor also give 25% investor discount..

Also keep me in your mailing list :)