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Updated almost 8 years ago on . Most recent reply

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16
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6
Votes
Jonathan Clark
  • Snoqualmie, WA
6
Votes |
16
Posts

Local expertise in the Tacoma market (Multi-Family?)

Jonathan Clark
  • Snoqualmie, WA
Posted

I'm looking to meet some folks who know the Tacoma area very well.   I'm looking at multi-family (4-plex) but don't know the area well enough and from what I'm reading can be tricky to pick the right neighborhood.    Can anyone point me to any information or area specialist?   Thanks!

Most Popular Reply

User Stats

57
Posts
36
Votes
Jan Wanot
  • Investor
  • Seattle, WA
36
Votes |
57
Posts
Jan Wanot
  • Investor
  • Seattle, WA
Replied

Let's be honest, most of Tacoma is going to have above average (for WA) crime rates besides maybe North End. 

It's all about the numbers. If there is a KILLER deal in a rough neighborhood, it may still be worth it. Just gotta figure out if you have the energy/time to deal with potential tenant issues/money you're willing to pay for management.

I have a rental in the hood, and it's wonderful because we made it so and designed the place to attract the right tenant. It's a 4/2 on Hilltop, and we got the exact tenants we had in mind when rehabbing: young successful guys that aren't too worried about the crack being sold 1 street down because they won't be hanging out outside anyways. One of them is a nurse which is exactly what I was hoping would happen as there are a couple of hospitals nearby. 

We didn't do much to the exterior so it would blend in and not attract the wrong attention, but the interior has inexpensive but modern finishes, brown-grey laminate throughout, light grey walls and white trim, cool pendant lighting, open floor plan, you know the template :) 

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