All Forum Posts by: Pete M.

@Dan G. Awesome, thanks!  I'll reach out separately with you to connect.

@Ruth Bayang Thanks for more great recommendations.  Are you buying SFRs or MFRs in Mason County?  Having a local contact would definitely give you an advantage.  Wife and I moved to the PNW not quite two years ago, so we don't have those local tried-and-true connections to capitalize, unfortunately.

I understand Seattle is more tenant-friendly than landlord-friendly; does this change drastically as you get away from Seattle/King County?  I'll admit my knowledge is lacking as to how much the landlord/tenant laws change per city or county within a state.

Thanks.

@Ruth Bayang Great idea, and thanks. Just put in my request to join that group. I'm also making the time to attend some local REIAs and REI clubs, too.

@Albert Bui Definitely will reach out to Ted--thanks for the suggestion!

Besides the Tacoma area, any other areas people are having success with?

Hi all,

I grew up about 30 mins southeast of Grand Rapids, and have been away from the area for the last 16 years.  I still have a good friend in the Wyoming area, and I've thought about testing the waters with him to see if he'd be interested in partnering for real estate investing (obviously with him as the boots on the ground).  With that said, this is obviously all theoretical at this point, but I'm curious to know how GR is faring as a place of investment for primarily multi-family properties (2-4 unit residential or even apartment complexes) with a focus on cash flow.

Any insight is appreciated.

Thanks.

@Seth Borman Thanks for the suggestion!  I haven't looked in that area yet.  Do you have any experience in that area?

I should also mention I'm meeting with a broker tomorrow morning who specializes in MFRs for investors around WA state, but wanted to gather other opinions to good areas to focus on.

Welcome to BP, Asia!  I'm mostly getting started myself, so I don't know if I have much to offer in the way of connections yet.  I'd suggest connecting with some of the local REIAs/RE Clubs in the area, like the Seattle Investors Club, Real Estate Association of Puget Sound (REAPS), Fixated on Real Estate (FORE), or the Cascadia Investors Alliance, to name a few.

With that said--what are your goals?  Are you looking to do flips, buy-and-hold for cashflow, wholesaling, or something else?

Welcome, Lauren!

Out of curiosity, why are you not looking to invest more locally?  Hoping to make your dollars go further?

Focused more on buy-and-hold, flipping, or both?

Thanks.

Hi all,

I'm an interested investor currently living in the greater Seattle area.  With the Seattle market as it is, I'm looking for the suggestions on where to hone my searches for multi-family properties for cash flow.  If people are having success with these numbers in Seattle, that's great, but I'm also thinking looking elsewhere is worth it--to areas like Spokane, Tacoma, Yakima, etc.  While I'd love to jump straight into a 30+ apartment complex for economies of scale, I figure it may be better to bite off a smaller 2-4 unit property to start, which will help me learn the ropes, build the systems to scale, and establish a track record.  I have some equity and conventional loan pre-approval already, so I'm ideally targeting properties under $600k (preferably much lower, as I don't want to blow all of my equity on the first buy), 2-4 units, mostly cosmetic facelifts (will entertain more thorough work, but don't have an established team in said area yet, obviously).  Since I'm working full-time w/ W2 income, I'll need to use a PM.

Thanks in advance.

@Andrew R. Lucas  Thanks for the response.  No specific property yet, but we're ideally targeting cosmetic to light renovation projects.  We're targeting an all-in price of $85k or less, so money for repairs would be whatever is left over after acquisition price.  Likely not a complete gut-to-the-studs projects, but new floors, cabinets, fixtures, paint--items like that.

Thanks!

Hi,

Looking for feedback/recommendations for GCs in Columbia, SC area.  Hopefully ones who have worked with investors before!

Thanks.

Hi all,

Looking to start investing in the Columbia, SC, area with a local partner.  We're trying to build out a reliable team:

Anyone have recommendations on good general contractors who have worked with investors before?

Thanks in advance.