All Forum Posts by: Simon Panosh

@Dawn Anastasi - I've never heard of lowering rents, but if you can keep great tenants for the long term, maybe it's worth it. I completely understand that there may not be any hard and fast rules, but what areas do you avoid based on your experience?

@Tyler Blackwell - I don't currently do any mailers at this point. This was an MLS buy that had been on the market for nearly a year. Definitely not a perfect property, but should cash flow pretty well. Feel free to PM me (or my email is on my profile) if you want to chat in detail, would be interested in your experience in the area also.

@ Dawn Anastasi - That's amazing to basically double the cost of the property in rent. One thing I've struggled with when looking at lower priced properties is that with rents being low, expenses can take a huge chunk of the rental revenue. Would love to here your take on expenses for lower price point properties in the area. Are you still able to make the numbers work? Or put another way, what % of rent are you generally budgeting for expenses.

@ Dave Carpenter - A definitely do have specific criteria I look for, but for me it also depends on the opportunities in the area. I've currently been investing in Washington state, in and around Seattle (2 hour radius). Properties are relatively expensive here, so I generally stick to small multi-fam properties where I can eventually add value in command higher rents. At this point, I'm not really looking to flip and generally have buy and hold cash flow model. Still learning about the market, I plan to take a similar approach for Milwaukee: focus on cash flow, buy and hold with opportunity to add value, small multi-fam to commercial. Generally I would like to avoid the worst areas and hopefully find the sweet spot of cash flow, with some upside potential.

@ Shawn Ackerman - Thanks for the encouragement and input. It sounds like you have a strategy that has been working well for you! I am definitely interested in cash flow, but would love to be able to better handicap the city so I can understand the different neighborhoods and risk/reward.

@Curtis Bidwell - Thanks for the recommendation! I'm in the process of closing on an Olympia triplex and would love to connect with another investor in the area. I'll PM you.

@Tyler Blackwell - Thanks for the recommendation! I'd also love to hear your experience investing in Centralia/Chehalis. I've looked at a few properties down there, both through MLS and at auction, but it's been difficult to handicap the area as it seems there are certain areas to avoid. I also haven't seen many multi-families there, but it looks like you were able to find one!

I'm a real estate investor from the Seattle market looking out some out of state options, specifically Milwaukee, Wisconsin. Would love to hear from others on if this is a good general area to invest and then specifically which neighborhoods/areas to avoid (eg. high crime, no upside appreciation etc.), and or which neighborhoods to focus on.

Does any one have any solid referrals or recommendations for solid and competitively priced property management in Olympia, WA.

I am a real estate investor from Seattle coming up to Spokane next Monday (7/10/17) for a property I'm closing on. I would love to meet/knowledge share with some local investors in the area if anyone's interested.

Cheers,

Simon