All Forum Posts by: Zach Schwarzmiller

The problem with these is active neighborhood groups who do not want the density that comes along with them. You are seeing them challenge them in Seattle now and I would imagine other places. There was a developer in Snohomish looking to build low income micro-housing units and the turn out at City Hall to stop the development was amazing - it wouldn't work well here though. The transit system is awful, there would be no parking which is already somewhat of an issue and you have a active neighborhood group.

I along with a few partners were attempting to move forward with developing a 37 unit micro-apartment in University District which would host students as well as potentially non-students - we were being conservative with our numbers and returns were insane. Sadly someone tied up the land a week before we had the equity lined up and the foreign buyer was uninterested in new development on the site.

While I think these will be popular, I don't see them popping up everywhere as cities and local community groups are against them.

Join us at the Snohomish County REI meet-up sometime:

http://www.meetup.com/SnoCo-Connected-Real-Estate-Investors/events/138912582/

Likewise, my answer would depend on you goals. Seems like you’re not opposed to out of state; however, I like to be within 1-2 hours (total travel time) of investments to keep an eye on them. Next thing we'd need to know is what timeline are you looking to hold it for and what asset classes are you interested in?

To answer your question though, if I had 400k in cash to spend I would look into either B-/C+ small retail center on high traffic / high density areas next within a vicinity to a big box retail center (some place that might have an pho eating spot, mini-mart, whatever – I find these typically stay full and aren't hard to lease because you can afford to keep rents slightly below market). Or I would go for another multi-family. I like multi-family a lot and that is the primary concentration of my investments. If you have the knowledge for development, building small multi-family which can obtain FHA / owner occupancy financing like Jon mentioned is a great idea. If not perhaps consider areas that are "path of progress" and take advantage of low interest rates and cheaper properties than investing in areas such as core Seattle which potentially will be overbuilt with the large amounts new development in the pipeline. We're seeing a shift in Seattle where individuals cannot afford rent downtown Seattle and are having to move outside the city to seek lower rent, respectively the development hasn't been as intense in these areas so vacancy rates are low (well currently, they are low everywhere!).

And then there is everything everyone else has suggested. Tons of options!! I would not keep the money in the bank though, personally - and I don't like paper assets that could potentially have no value. Real estate is great, it's tangible.

Mike

The Snohomish County REI Meetup meets once a month currently. I seem to hear a slightly different story for how everyone got involved within REI and found their first deal. I bought my first triplex as an owner occupant taking advantage of a FHA 3.5% down 3.33% 30 year fixed loan. At the same time I also purchased the building across the street with partners where we had to go with a 1 year loan term for quick financing. We plan to refinance into a new loan within the next few months. We did not fear initial rise in interest rates so having a 1 year refinance or exit strategy was fine with us. I am also buying another property within the neighborhood where the owner is going to be carrying a 5 year note on the property with interest only payments. There are lots of options, as you can see I have three properties next to each-other all with different sources of financing. I typically pursue whichever will get the deal done J

Welcome Lillian! I am down in Snohomish. It's quite a ways away from you but if ever down join us for the Snohomish County Meetup!

http://www.meetup.com/SnoCo-Connected-Real-Estate-Investors/events/138912582/

Kirill: Last email I have from you was Tue 8/6/2013 10:23 AM, I responded with no responses! Perhaps your response was lost into cyber space! I make it to reply with at least a "I will get back to you soon" within 24 hours so if you don't hear from me give me a call! (206-571-5632).

Come to a meetup and let's chat! And/or let's get a coffee or beer!

There are lots of neat places in Snohomish the new bakery's place is great too. Thinking about starting a brewery with some friends as well - need to get my buddy to ween is way off amazon and make the food for us! Then we can have REI meetup's at the brewery ;)

Mike in Snohomish!! I live/own triplexes down near the library on Maple (in Snohomish)! Buying the green house across the street from it currently. Not sure to rent out house and basement separate or tear down and build 4-6 units and/or a small commercial space - running the proforma's currently to figure it all out.

You should check out our local meetup: http://www.meetup.com/SnoCo-Connected-Real-Estate-Investors/events/138912582/

I'm 26 and engaged with my eyeballs up to debt, but all good debt :) (in my opinion). If you'd like to grab a beer or coffee sometime that would be awesome your the first one I have come across on here who actually lives in Snohomish.

Martin,

I believe I could be of assistance to you. Professionally I help investors buy and sell commercial real estate (I am a real estate broker - MLS/CBA access). I've helped several clients buy/sell distressed and not distressed deals. I focus primarily on multifamily throughout all of Washington State. I also own/develop multifamily units personally as an investment.

Sellers pay the fees so I'd be able to represent you as buyer and mentor you as I believe I have a thrurough understanding of commercial real estate valuation. I've completed all my CCIM classes and finished the UWs Certificate in Commercial Real Estate.

Anyways if you'd like to connect let me know! Nonetheless I am always happy to answer any questions without helping you on the deal part and can send you some MLS info.

Welcome Robert!!

Welcome Mark! Hope your enjoying BP!