Any Snohomish County, WA Investors?

Question

Hey all,

I'm hoping to get to know more investors in my area. My business name is North Star Homes and, let me get this out of the way, I'm a newbie. My primary interest at the moment is flipping homes between Monroe and Everett, Washington. However, in time I hope to branch out into rentals in Western Washington and other states.

So much to learn. I am still working a day job and working with an agent trying to find a distressed property that I can make money on. I welcome any contractor referrals, as well as any advice or conversation from other investors.

Nghi Le · Answer

It's hard to find good deals to flip on the MLS.  Most flippers tend to buy off-market, whether through their own marketing or through wholesalers.  Or sometimes their real estate agent is well-connected to bring them these leads as well.

Go to local meetups in the area and network for deals.  There's not that many real estate meetups in Snohomish county (much more in King and Pierce), but if you're able to make it to one of Tarl Yarber's Fixated evening meetups in Bellevue, I think it'll be worth your time.

Account Closed · Answer

Can you share details about your commercial property in Everett? Purchase price, cap rate etc? I own lots of residential in Everett and keep thinking about venturing into commercial....

Sherief Elbassuoni · Answer

@Aileen Yu, before Covid, we used to meet in person with a handful of meet ups every week.

After Covid, we switched to online (Zoom meetings).

You can get a look at this link for the upcoming events

https://www.biggerpockets.com/...

Looking forward to connecting more!

Aileen Yu · Answer

I'm a newbie from Lynnwood looking for house hack or BRRR by Mid May 2021. Any specific groups or meet ups anyone can recommend so I can start getting connected? I'm a planner so really want to understand what I need to do to accelerate my goals of reaching 24 doors in 6 years to maybe 2 or 3 years. Thanks in advance!

Dave Skow · Answer

William -  welcome and thanks .... if you  will need  financing  to purchase  ....make sure you  get  yourself  pre approved  before you begin  searching / looking  for properties ......will you be  wanting to  do this  under your name or under your  business  name ?    getting loans in personal name  easier and  better priced  as compared to under  a

business name

Christian Decker · Answer

@William Fifield

Hi William

I am a Real Estate Agent that focuses on investments and also own multiple commercial buildings in snohomish county! I can help you with many contractors and also help you find properties if you are interested! While I specialize in Multifamily and commercial, I can also help you on your fix and flips. Just shoot me a message if any of this interests you!

Thanks

Christian

Jennifer McElliott · Answer

Hi @Matthew Kimball - yes we were going to list it, but then found that the neighbor home had been purchased recently and they were interested in our plat as well, so we are now in contract w/ them and are set to close in early Dec.  Definitely is a hot market there!

Jennifer McElliott · Answer

Hi -thanks for starting this thread William and welcome to the BP forums!  Great to 'meet' other local investors - we've been investing in Snohomish Country since 2013 - started w/ SFRs and now small multi-s.  Would love to connect w/ others in the area and swap best practices/ideas or resources!  We actually may be looking to sell a Lake Stevens Duplex before the end of year!

Christian Decker · Answer