All Forum Posts by: Amanda Dallman

@Doug Perez The 2 cities are really doing what they can to help this. The new ADU plans they put together are really cool.

80% of the land in Chelan county is protected and unbuildable. This creates a high demand on the land that is buildable. With the new zoning laws in Washington state, Chelan and Douglas counties are partnering up with builder, investors and entrepreneurs to create more  middle housing. There is some big opportunity here. Here is a short video the city created. If you want to get involved I would love to connect. 

@Nik Moushon

Strengthen in numbers my friend. We should meet up and see how we can combined forces :)

Wenatchee is located in central Washington on the Columbia River and has been known as Washington State's energy hub. Large corporations are starting to take notice. Now is the time to be investing in Wenatchee, Washington.

This year the area's first Hydrogen plant is scheduled to start operating a $25,000,000 project.

Northwest Natural Gas is putting in a $43,000,000 natural gas plant.

In May of this year, the Washington State Port Association awarded The Chelan Douglas Regional Port Authority The 2024 Job Creator Award for creating jobs in the area.

Earlier this year at a state of the economics luncheon it was rumored that the area will have over 25 data centers in the future.

I was recently at a community meeting where Helion Spoke about putting in the world's first Fusion plant. I'm 90% sure that they are going to be putting this plant in at the old Alcoa Aluminum plant that is being demolished as we speak. Microsoft has given Helion $600 million to start this project. Currently, Microsoft is building three data centers just a couple miles from this location in Malaga. Last month Microsoft closed on another 200 acres in the area for future builds.

Beyond data centers other huge Capital Improvements are being done in the area. The port Authority has just begun construction on a new Business district located up by Pangborn Airport.

There is a large road project building a second bridge over the Wenatchee River to downtown to help with future traffic flow the project's estimated cost is over $92,000,000.

A secondary Road Project is also happening on the south end of Wenatchee Ave. Speaking of Wenatchee Ave an entire block is being demolished, and current tenants are vacating. The project known as The Majestic will reshape the south end of Wenatchee Ave with new dining and retail options, underground parking, and a five-story apartment complex.

Pangborn Airport is looking at a $30,000,000 investment to lengthen the tarmac so 737s can land. Wenatchee currently has 2 commercial passenger flights a day. This expansion is most likely for larger cargo planes to land. Amazon is currently building a 45,000 SQFT “last mile” distribution center.

Smaller projects happening in the area:

A new public park and boat launch is being constructed in Malaga

The YMCA is moving to the old PUD building and putting in a $25,000,000 state-of-the-art facility.

$2,000,000 is going to improvements to the riverfront park adding playgrounds and splash pads.

Since 2022 a feasibility study has been going on for a regional sports complex boasting 16 soccer/football fields, 8 baseball diamonds, 50 meter indoor pool, gym, track, and waterpark.

There are several more project revamping old warehouse building turning them into trendy new dining and retail spaces.

When vetting Wenatchee on paper I know it doesn't look the best but the numbers are skewed.

When Googling the population of Wenatchee you're going to find that it only reports 35,000 people. The truth is the Wenatchee Valley is two cities and two counties and the current population is over 100,000.

The unemployment numbers also look high averaging around 6% The reason for this is our median age of 40.3 as reported by the Eastern Washington University economics department. Historically, there have been a lot of people living and moving to the area for retirement. We are starting to see this change as Millennials are moving to the area looking for a better lifestyle.

One huge improvement the Wenatchee area has seen is the median household income level which is now at $87,500. Wenatchee now has the highest median income in all of eastern Washington. I believe we will continue to see this increase as more tech and energy jobs move into the area.

There is a reason so much money is being pumped into the area. Wenatchee is about to BOOM!

All the Best! 

Amanda Dallman

@Evan Dobrowski

Awing.com places Packwood 9th on the top places to own STR in Washington. I think we will be seeing a lot of STR come on the market this year. Insurance rates and tax increase combined with lower nightly bookings is making it tougher to get them to float, it's also chewing down on proffits. Im advising client who want to buy vacation rentals to have a padded bank account because the income stream is not as reliable as it once was.

@Karl Krauskopf Have you thought about doing any condo conversions in Wenatchee? Looking at some real estate stats, there a big need. 

@Rafael Gonzalez

Do you want to meet up for a cup of coffee?

Is this off market? 

Hi Eric, 

@Eric Yu

If you need a partner in that area, let me know ;)

As Investors we have had to make a pivot over the last year, as LTR cashflow is tight, and STR have gotten so competitive. But there is still opportunity out there!

What's going on in Wenatchee? 

We're a valley in central Washington located at the East side of the Cascade mountains. Our city sits on the Columbia which powers several dams providing us with the countries cheapest power.  We're only 3 hours away from Seattle and have all the outdoor recreation you could want. As you can imagine, people are quickly moving in.  I am a realtor in the area and in the last few months I have been getting calls from companies looking for furnished houses to rent for their employees... and I don't have anything to offer them.  I had to ask myself what is going on and where is the opportunity. 

Here is what I have learned-

Microsoft has announced plans to put 6 data centers in East Wenatchee making them the single largest investor and tax payer in Douglas County. Last week I learned at the port meeting that Microsoft has also been approved to put in an additional 3 data centers in Malaga, WA (just south of Wenatchee) Making Microsoft also the largest investor and tax payer in Chelan County history.  The opportunity-  These companies need housing for their executives coming in and out of these projects which will take several years if not a decade to complete. 

Our hospitals system is also a large employer in that area, and there is not enough skilled staff in the area. When you do a quick search on google you will find over 200 job postings for traveling nurses! These are people that stay in a area for 3 months at a time. 

What makes Wenatchee a great area for mid-term rentals?

The county has a tight permitting code on STR. This keeps the STR competitions down! Here is a link to the county code

https://www.co.chelan.wa.us/co...

Investing in Wenatchee is a long-term hold opportunity with steady growth in appreciation. Here are a couple clips of the price per square foot increases over the last year, 3 years and 10 Years

The past year

The last 3 years

The last 10 Years

Happy Investing,

Amanda Dallman