Newbie, Anacortes, Washington, looking to buy and hold

Newbie, Anacortes, Washington, looking to buy and hold

Investor · Anacortes, WA · Member since 2017 · 2 posts · 2 votes

Hello,

I recently moved to Anacortes Washington for work at the Andeavor (previously Tesoro) Refinery. I grew up on Bainbridge Island Washington and went to school in Montana. I purchased my first duplex in Missoula Montana and still own/rent it. I then moved to Puerto Rico for 4 years, from there I moved to Texas before returning to Washington.

I recently bought a 4(5) bedroom house on 4, 5 are lots in Anacortes, with 2 other people. We want to eventually build 3 more houses or manufactured homes on the 3 vacant lots. My father recently sold his lot with a triple wide manufactured home on it, on Bainbridge, and I have a verbal contract with the buyers to get the manufactured home off the lot in 2 years. Meanwhile I am always looking and trying to invest elsewhere.

Currently I am looking for:

Multi famliy, or single family rentals in or around:

Anacortes, Washington

Mount Vernon, Washington

Oak Harbor, Washington

Bellingham, Washington

Vancouver, Washington

Missoula, Montana

Vacation rentals around:

Puerto Rico

San Juan Islands, Washington

I know nothing about, but am very interested in wholesale property as well.

My real estate goals are to eventually buy and hold a large apartment complex and  a large amount of vacation rentals. Also to start a landlord business and property management. I mostly need guidance on deals and tactics as my current tactics are pretty barbaric, I can power through any bad deal with my income from my full time job.

I hope I introduced myself properly, I am open to any and all suggestions.

Thanks,

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Real Estate Agent · Bellingham, WA · Member since 2017 · 427 posts · 182 votes
8y

@Brendan Johnson Welcome! The PNW can be a tricky market, but there is room for everyone!  I think I remember seeing the property you bought. It sounds like a ton of upside, so congrats on an amazing opportunity. 

@Julian Sibley is right: the Marysville is a great group. Its a little too far for me up in Bellingham though. @Julie Marquez recently started a skagit/anacortes group, and @Patrick Britton has an amazing group put together in Bellingham. They already introduced themselves, but I'd definitely recommend talking to them individually if you have any questions about the groups. I hope to see you at one of them!

@Eric Kouvolo I'll have to talk to you at the next meeting. I remember you talking about it, but I can't find the locations on the map (I don't think anyway.)

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  • Gary JensonPro Member
    Investor · Anacortes, WA · Member since 2016 · 12 posts · 3 votes
    8y

    hi Brendan. Welcome to anacortes. I hope things turn our well for you here. We've loved living here. 

    I haven't gotten far investing in New props  here.  I've been doing that in eastern wa.

    I like your style, just going for it. 

    Good luck!!!

  • Rental Property Investor · NY MA CT VT MT, MO · Member since 2015 · 200 posts · 116 votes
    8y

    hey, @Brendan Johnson!  Welcome!  I like your style too!  I went to school in Missoula many years ago, when thousands of houses were $30k!  God I wish I had bought some then... had no idea how creative I could have gotten.

    Just keep rolling the way you are, and you’ll have more deals than you can handle, especially with a good full time job’s income to work with.

    As always, if you’re unsure of your skill at negotiating, etc, find a good partner you trust, preferably with some good experience, like a (good) realtor or contractor, who have value to add and learn from them.  You can also greatly expand your empire faster with the right partner and leverage like crazy.  Be choosy, because you have a lot of value as a solid w2 earner, especially to self employed people like contractors or realtors.

    Also some great books out there on negotiation, etc, but I would listen to ever single podcast of 250 that BP has put out.  It’s lIterally like a PhD for free.  Don’t wait!

    Cheers 

  • Lender · Everett, WA · Member since 2017 · 104 posts · 59 votes
    8y

    @Brendan Johnson Welcome to BP! There's a local meetup in Marysville, WA on the 27th of NOV. Starts @ 7:00 PM at the Bob's burgers. If that is too far of a drive for you then @Robert Freeborn could probably get you connected with some people further North. I believe they have a meetup in the Mt. Vernon/Skagit area.

    If you are interested in short term rentals & Vacation rentals @Eric Kouvolo would be another good local investor for you to meet with. Meeting other locals will be the best way for you to see what kind of deals they are looking for/finding in the area.

    Good luck investing, hope to see you around!

  • Julie MarquezPro Member
    Investor · Skagit County, WA · Member since 2016 · 1k+ posts · 807 votes
    8y

    @Brendan Johnson Welcome to Bigger Pockets, and so happy to meet other people in Anacortes! I didn't even know it changed to Andeavor. My husband and I live in Anacortes and invest here and in Mount Vernon. Anacortes is a little tough to make the rental numbers work, but we are looking at building new in Anacortes; either a duplex to hold, or a single family to resell. Would love to meet up some time.

  • Specialist · Bellingham, WA · Member since 2016 · 13 posts · 11 votes
    8y
    Originally posted by @Julian Sibley:

    Thanks Julian for the shout out and welcome back to the PNW Brendan! I am doing some cool Airbnb/VRBO rentals near Mt Baker and am available if you have any questions. Big plans for the spring as I am looking to scale and would like to help create some win-win-win solutions. Until then ... Let It Snow!!!

    Eric

    #RentalsMtBaker

  • Rental Property Investor · Coupeville, WA · Member since 2011 · 135 posts · 52 votes
    8y

    Hi @Brendan Johnson,

    Welcome to BP.  Good to hear about your interest in local markets.  I am an active buy and hold investor on  Whidbey Island (and other markets).  I own properties in various towns on the island (including Oak Harbor).  Hopefully we get to meet sometime soon at a local Meetup.

    Best Regards,

    Scott

  • Investor · Anacortes, WA · Member since 2017 · 2 posts · 2 votes
    8y

    Thanks all for the responses. I have been discovering that the ROI is a lot tighter in the Anacortes area

    @Julian I saw the meeting, unfortunately I am in West Virginia for the week (also looking at properties out here). I felt like I read somewhere that there is a meeting on the third Thursday of every month.

  • Ann Arbor, MI · Member since 2014 · 1k+ posts · 997 votes
    8y

    @Brendan Johnson welcome.  hope you can make it up to Bellingham sometime.  

  • Real Estate Agent · Bellingham, WA · Member since 2017 · 427 posts · 182 votes
    8y

    @Brendan Johnson Welcome! The PNW can be a tricky market, but there is room for everyone!  I think I remember seeing the property you bought. It sounds like a ton of upside, so congrats on an amazing opportunity. 

    @Julian Sibley is right: the Marysville is a great group. Its a little too far for me up in Bellingham though. @Julie Marquez recently started a skagit/anacortes group, and @Patrick Britton has an amazing group put together in Bellingham. They already introduced themselves, but I'd definitely recommend talking to them individually if you have any questions about the groups. I hope to see you at one of them!

    @Eric Kouvolo I'll have to talk to you at the next meeting. I remember you talking about it, but I can't find the locations on the map (I don't think anyway.)

  • Rental Property Investor · Oakland, CA · Member since 2016 · 602 posts · 250 votes
    8y

    Welcome to BP!

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