Northwest Washington Investor

[Timothy Daniels]

Hi all,

I guess this is my formal introduction... I've already posted a couple of questions and listened to about 40 of the podcast archives but have missed this step.

I live on San Juan Island,  about 90 miles north and west of Seattle, where my wife and I own 11 vacation rental condos, a B&B, a duplex, and a commercial property.  I am also a realtor, property manager,  former builder, and former pastor. These all contribute valuable assets to my investing.

My niche is, apparently,  location rather than property type as there is not enough available inventory here of any one type to focus narrowly.  I would like to expand my borders a bit, perhaps to Whidbey Island, Mount Vernon,  or even Bellingham.  I'd love to connect with you if you are investing in these areas.  My goals are to grow the commercial property side of my portfolio, or perhaps medium to large multifamily properties. 

Tim Daniels

[Timothy Daniels]

Originally posted by @Joe Fairless:

@Timothy Danielswow, what an impressive portfolio. How mgmt intensive are the vacation rentals or do you contract that out to a 3rd party? 

 If I was smarter,  I would have them managed by a management company, but here on the island VR management gets between 35 and 49%.  If I self-manage for 5 years I can have them paid off, at which point I may transition them to residential rental and have them managed for me.  The short answer is that they are insanely labor intensive,  but with a purpose for now.