All Forum Posts by: Ryland Taniguchi
Ryland Taniguchi has started 33 posts and replied 765 times.
Post: New member from Seattle area -- introduction and questions
- San Francisco, CA
- Posts 786
- Votes 717
Ask @Troy Fisher for the meetup group details.
Post: Real Estate Attorney & Title Co Referral
- San Francisco, CA
- Posts 786
- Votes 717
Scott Hilderbrand for attorney.
Chris Marshand, VP of Chicago title (just mention my name).
Post: New Member Seattle area
- San Francisco, CA
- Posts 786
- Votes 717
Welcome to BP.
Post: Newby in the Seattle area :-)
- San Francisco, CA
- Posts 786
- Votes 717
Welcome to bigger pockets.
@Troy Fisher and @Julie Clark have some great groups to network and learn.
Post: New to BP in Seattle, WA area
- San Francisco, CA
- Posts 786
- Votes 717
Originally posted by @Mike Rudnev:
@Ryland Taniguchi you have some great ideas. Are you on the South side of Seattle?
No I live in Magnolia.
Post: Washington State Wholesaling
- San Francisco, CA
- Posts 786
- Votes 717
Here in Washington, we have laws related to approached Distressed Sellers and Equity Skimming. Basically, we can't get buy an owner-occupied house for way less than market value. The rules don't apply to no -owner occupied. As a result, it is risky to go after pre-foreclosures and short sales if they are not on the MLS.
Washington is an anti-investor state.
Post: Subdivide and create free lot
- San Francisco, CA
- Posts 786
- Votes 717
Originally posted by @Rudy Manna:
Originally posted by @Ryland Taniguchi:
Originally posted by @Rudy Manna:
I have been doing buy and hold deals so far. Now I feel like taking the plunge and take it to the next level. My plan is to buy a house in a large lot, subdivide and create a free lot. Put the house for rent and go for new construction in the free lot. Experts such as @Ryland Taniguchi among others are implementing this strategy at scale.
I need to do some research/studying so that I can evaluate feasibility before going for the deal. Can the experts give me some guidance around the following:
1. If I take bank loan to buy, will that cause any problem with applying for the subdivision? I guess I can refinance after the subdivision minus the plot, and hold the plot free and clear. Looking for some real experience.
2. Are there any zoning restrictions/requirements I should look for?
3. What would be the minimum lot size to be eligible for subdivision? Are there any formula or any such thing?
I am considering south side of Seattle such as Tacoma, Olympia, Puyallup etc.
To answer your question...
1) I would either buy with cash or HML. The banks will not adjust the lot line unless you pay them. Some HML will allow you to do a partial deed release based on a survey which allows you get the collateral released when the property is subdivided.
You usually have to subdivided and get parcel # and then refinance the part with the land on it.
2) In Tacoma, I look for R2 zoning with lots over 13,000 sq ft. But keep in mind that just because the lot is 13,000 doesn't mean you can subdivide into two 6500 lots. Things like wet lands, critical slope, and setbacks can require more land to subdivide.
3) I think the minimum lot size for the R2 is 6500 sq ft but I am typing this response off the top of my head while pushing my son in a stroller to sleep so I could be wrong. Lol
I don't actually build these homes in Tacoma myself. I hire Reality Homes because they can build cheap than both of my own construction companies. It might be helpful to camp out at he Tacoma Planning Dept and ask lots of questions.
Any rough estimate for sqft cost with realty home? These will be pretty basic homes, so any chance per sqft cost can get down to $80 or so?
I would guess $100 per sq ft. I haven't used them for a little over a year and construction prices have gone way up in that period. I will know soon as I am hiring them now for a Tacoma build-out.
Post: The Real Estate Cycle
- San Francisco, CA
- Posts 786
- Votes 717
Originally posted by @Armando Payano:
@Ryland Taniguchi I respect your experience and accomplishments. Knowing what you know now, taking into account where most markets are in their cycles, how would you invest if you where just starting out?
I'm am looking forward to a market correction but they historically last 2-4 years before stabilizing. How would you deploy capitol in the interim?
If I were just starting now, I would do the same thing that I am doing now.
1/3 of Portfolio in Wealth Preservation. Like maybe a single performing (not non-performing) note at 8% at 50% LTV.
1/3 of Portfolio in a single Cash Flow property that is 1% rule + with 30% equity through BRRRR or a 2% rule turnkey property in a class B area.
1/3 of Portfolio in an Accelerated Wealth strategy like partnering with an experienced Rehabber or developer.
Post: The Real Estate Cycle
- San Francisco, CA
- Posts 786
- Votes 717
Originally posted by @Eric Delcol:
Originally posted by @Ryland Taniguchi:
1) Petrodollar System. The US government needs the world addicted to oil so that the world buy's oil in US dollars. We are in the Middle East not take over oil but to control what currency oil is bought it. Saddam Hussein did have a Weapon of Mass Destruction. Right before we took him out, he announced that he was going to accept oil in Euro dollars. I can only imagine the look on Obamas face when he went to office and found out why we were in Iraq.
If you like history and like it with a comedic flavor - check out Robert Newman's history of oil:
https://www.youtube.com/watch?v=sa3oqP3FGMc
Ryland, your comment is highlighted with ingenious mirth @ 23:00
That's pretty fun and right on point.
Post: Seattle wants to be like San Francisco! - New Rental Laws Passed!
- San Francisco, CA
- Posts 786
- Votes 717
Originally posted by @Troy Fisher:
Originally posted by @Ryland Taniguchi:
Seems like the left leaning politicians keep helping the rich get richer. The government has proven over the last 100 years that it cannot solve problems like affordable housing. Rent control discourages developers from building cash flowing properties, which in term makes rents more expensive and segregated. So the landlords get wealthier as property values soar.
The discriminated classes need the assistance of non-profits like the one I founded that serves as a People's Hedge Fund to help discriminated classes.
While I think what you are doing is great Ryland, it doesn't address the attitude of the City of Seattle Council Members in that landlords are to blame for the mighty increase in rents. If they truly want to improve the affordability of Seattle, they need to make it easier to rent in Seattle, less scary and to own rentals where an eviction can take 6 months, they need to encourage affordable units by creating a tax benefit to owners (and not just developers!), and they need to look at their encouragement of economic drivers. I think that any company that employs more than 1,000 or which currently has a payroll where the average employee makes 1.5x the qualifying income for a SFH in the Seattle Area should face tax implications.
The City of Seattle cannot keep crying to "let them eat cake" when they are ones driving the car.
With this City Council in Seattle, sounds as likely as the Sonics coming back to Seattle.