All Forum Posts by: Zach Schwarzmiller

Welcome Nan! Excited to hear your progress as you learn more!

Business practice would make sense. I was just curious more than anything!

Brandon,

Curious why would you state this in your move out checklist?

"Your security deposit will be mailed to the forwarding address you provide within 14 days after your move-out inspection has been completed."

It is my understanding that this is not part of Washington State law to actually have mailed the deposit within 14 days, but rather an estimate of accounting for the refund - seems like if you were to go court you've just burdened yourself by telling the tenant this is what you would do when in reality it wasn't required to be done that way.

Hello Olivia! I've been looking into lots for building multi-family and speaking with lots of land use planners, that's a great knowledge to have when getting into this side of the business. I am up in Snohomish County.

Steph

You can look up CMBS maturity dates with the following service:

http://www.trepp.com/

I bet there are more out there as well, but I haven't really looked into any others.

I'd love to meet - I am usually in Snohomish County (Everett, Snohomish or Edmonds/Shoreline) but if it works out I am happy to meet you near Seattle as well. Keep me posted!

welcome anna! come join our snohomish county REI meet-up!

Welcome Lucas! I live / own multi in Snohomish County. We have a REI meet-up once a month. Other great groups to check out are REAPS, RHA, NAIOP (if your wanting to take the commercial route). Hope to see you at a meeting!

Luke,

I really like what is going on in South Snohomish County. I own some multi-family in Snohomish and love it. I am helping a client buy properties in Monroe at the moment and just sold a 20 unit in Arlington - I feel all these areas have much more value than core Seattle markets, personally speaking.

Welcome Guleed. If your buying on the 'nearby outskirts' of Seattle it seems to be more affordable nearby outskirts of SD. I was helping my friend underwrite some apartments in SD which I am less familiar with; however, it seemed if you were to choose a market such as Northgate just north of Seattle it was more affordable here. If I can be of any help in Seattle let me know, my focus is multi-family.

Stephanie, wish I could be of more help towards your question but I don't have a great answer except chase off-market deals. I just had a family accept my offer to purchase the house their mother lives in where they will carry the contract interest only at 3.5% for 5 years. Had the deal been on-market it wouldn't fly.

I feel your frustration though I have a client I write up on average 3-5 all cash LOIs with short close periods per week in all corners of Washington State, literally everywhere but King County and were having a difficult time getting as many as we'd prefer under contract. The unit range is between 2-40 units so were really covering it all. We've actually started writing more LOIs on assets in markets like Ohio because were tired of WA state rejection and competition.

On the flip side we've closed a decent amount of deals completely off-market at favorable terms. I'm not sure if the unit range your looking at but I'd encourage you to utilize technology and see who's CMBS loans are coming due in the next 6-12 months and start dialogue now for disposition, best case off-market.