All Forum Posts by: Brendon Stewart

@Annie G. That is a very insightful post - I am grateful for the insights!  Really helps me to understand some of the dynamics a bit more clearly.  

Thanks for the tips @Pete Perez

I'm also working on my first deal in Tacoma and have spent time driving around target neighborhoods.  Feel free to keep in touch if you ever want to swap notes / exchange ideas.  

@Account Closed @Alex Chin Thanks for the insights guys.

@Kim Martin Thanks for the feedback Kim.  I started looking at Wenatchee based on your recommendation and it looks like a really cool area.  I see that it cash flows much better than some of the areas surrounding Seattle.  

How long have you been in that area and do you have any recommendations on neighborhoods, property types, etc?  I see several MF properties that have been on the market for quite some time.  Seems to be more of a buyers market which is refreshing after spending so much time in Seattle.  

@Liz Koser @Ari Chamberlin Thanks for the feedback guys, appreciate it! 

Do you have any thoughts on proximity to Lincoln High School?  There is a nice park there and the school itself is a nice piece of architecture.  I do know that it doesnt have the best reputation, so I'm wondering if it is generally a better idea to locate further away from the campus.  Like you said it varies block by block, so maybe the answer is simply "it depends".

I'm also curious as what types of tenets you see looking to move into single family housing in that area.  Young professionals, young families, students, etc?  Any insights there would help me get a better understanding for the neighborhood and the target tenet that I should be thinking about.  

@Aaron Nelson

Thank you!  I'll PM you with some follow up questions.  Appreciate the offer!

@Account Closed Thanks Grant, appreciate the feedback.  In terms of identifying value-added opportunities, is this based more on driving value through rehab or about identifying additional revenue streams / optimizing management?

I'm also curious about your callout on Tacoma.  Is there anything inherent about Seattle / Everett that makes these markets a more attractive investment than Tacoma / Lacey?  Or is it simply a function of building around your existing geographic footprint?

(reposting this to the Tacoma Real Estate Forum)

Hey All - I'm a noob from Seattle looking at Tacoma for my first RE investment.

Anybody will to share tips on neighborhoods / strategies where you are seeing success?

I have focused my research on buy-and-hold SFRs in what I would consider B neighborhoods (UPS, Proctor) and B-/C+ (neighborhoods surrounding the International district) neighborhoods.

Based on MLS listings I am finding rent-price ratios in the 0.6% - 0.7% range, which is slightly above what I see in the Seattle market. Given the low price of homes relative to Seattle, however, Tacoma seems like a reasonable entry point for a new investor.

I'd also welcome any alternative views to challenge my current thinking! I've read through the forums for Seattle / Tacoma / surrounding areas and there is a ton of great info out there - thanks for all those who are sharing!

Hey All - I'm a noob from Seattle looking at Tacoma for my first RE investment. 

Anybody will to share tips on neighborhoods / strategies where you are seeing success?  

I have focused my research on buy-and-hold SFRs in what I would consider B neighborhoods (UPS, Proctor) and B-/C+ (neighborhoods surrounding the International district) neighborhoods.  

Based on MLS listings I am finding rent-price ratios in the 0.6% - 0.7% range, which is slightly above what I see in the Seattle market.  Given the low price of homes relative to Seattle, however, Tacoma seems like a reasonable entry point for a new investor.  

I'd also welcome any alternative views to challenge my current thinking! I've read through the forums for Seattle / Tacoma / surrounding areas and there is a ton of great info out there - thanks for all those who are sharing!

@Account Closed - Thanks for the info in this thread.  I'm curious on your comment that this fourplex will cashflow nicely.  

Are you referring to the 4plex on 8713 8th Ave W?  

If so, it looks like a conventional mortgage (5% interest with 20% downpayment), insurance, and tax would generate $2,776 per month in expense. The estimated monthly rent from the 4 units is $2,800 according to Redfin.  Therefore this looks like a money losing venture once you factor in other operating expenses.  

Just want to make sure that I'm not missing something in my analysis. I'm new to REI so if I'm thinking about this the wrong way, let me know!