All Forum Posts by: Sean Lee

@Adrian Chu Thanks for the reply! Some of the spaces I found seem flexible-- it could be converted into retail or office quite easily. Commercial just seems like such a different process that I'd love to learn about! 

I know it's a totally different ballgame, so I'm curious if anyone has approached this before and would be up for a virtual coffee? It's just an exploration for me, but I'm curious about:

-Any favorite commercial areas in Seattle?
-How would you assess a property?
-How would you find commercial tenants? (LoopNet, Craigslist?)
-How would you calculate vacancies?

Hey @Matt Ausprung! Did you find a use for it? I'm looking into something similar. 

Hey @Andrew Chapman! Thanks for sharing. I'm curious how you found a tenant for your commercial space downstairs? Loopnet? 

I'm looking into something similar! 

If you use a platform like Airbnb / VRBO, you'll be able to collect your rent up front, which might be perfect for you. Also, I know Airbnb allows you to set it up so that you can individually approve each guest manually, if you wanted.

@Michael Haas Huge thanks! I'll definitely check out Judkins Park as well. Thanks for the tip about the Vulcan's retail opening up. Any recommendations on how to stay on top local projects? 
Seattle Times is how I stay up to date on the West Seattle Bridge situation, but I feel like there should be better sources. 

@Michael Jiang Super helpful as well, thank you. I don't mind it being more active, since it'll be my primary residence. Would love to sync up and hear about your experience in Seattle. 

I'm also looking to invest in a short term rental property-- understanding Airbnb will take time to recover, but will hopefully cash flow well in the long run. To analyze the investment, I take the regular BiggerPockets CoC formula, but then substitute the rental rate I see on Airbnb (they tell you average price for the neighborhood) and multiply that by 30days * 60% occupancy (or whatever it might be for your area).

How about you? How are you analyzing your deals-- would love to learn since I'm fairly new myself!

Hey friends,

I'm looking into investing in a 3 bedroom, living in it, and Airbnb'ing out the extra two rooms.

As I'm almost ~30yo, Airbnb'ing out the extra rooms seems more appealing than renting out the two extra rooms to roommates. The flexibility to stop renting it when I want seems to be a good advantage of Airbnb in the long run.

Because of the decision to Airbnb in the long run, I've found that areas like West Seattle, North Beacon Hill, and Mount Baker should cash flow well-- having the combination of being close enough to Pike Place / downtown, but still at a decent home price.

Though, I don't know much about what I'd be getting into, with Airbnb & Seattle.

Does anyone have thoughts, guidance, or resources on the idea? Suggestions on neighborhoods are welcome too-- anywhere in Greater Seattle.

I know COVID is impossible to predict, so I'd definitely appreciate advice in both scenarios (COVID dragging out vs. resolving quickly.) 

Please critique away, and don't hold back-- I'm not attached to the idea at all. My backup option would be to purchase a smaller place for myself (maybe Lynnwood/West Seattle) and begin saving for a separate rental property.

Thanks in advance!