All Forum Posts by: Brandon Vukelich

@Jeremias Rodriguez I own a 3-unit STR/MTR in Old Town (neighborhood) of Tacoma. We've had it since 2020 and have been renting the front two water view units as STRs and the rear studio as MTR. The STRs don't fall under WA LT law and we have heard much discussion from the city on restrictions. Our MTR does and we run the risk of Measure 1 issues, someday. But all of our MTR guests have been steady and great. That being said, we are considering to sell and invest in something less management intensive. Running a STR is like running a mini hotel, you are more in the hospitality biz. Best wishes on your RE journey! Reach out anytime.

Group networking events with clients is great to encourage referrals.  I like to hold VIP events for 15-25 people. We ask clients to invite a friend we may not know. We typically do a happy hour at a local brewery or rent a suite with catered food/drink at a local baseball game.  Networking with new vendors or leads is done usually via phone calls, meeting for coffee or doing a zoom.  Of course, engaging with members on sites like BP too!

CE Shop, Kaplan or Rockwell are fine.  You should always verify with your state's DOL that any you are considering are an approved educational vendor.  Best wishes on your RE journey!

Welcome @Zach Pepin!  Be sure you get familiar with local landlord-tenant laws for the various cities you're considering.  Seattle is terrible and Tacoma is apparently trying to top Seattle as the least friendly to landlords.

House-hacking can be a great starting point, especially finding a SF with an ADU/DADU or room to add one. You'll definitely need to bump up to $650k+ for a decent duplex in S. King Co or Pierce. I have my pulse on off market deals but would need more specific criteria from you.

Best wishes on your real estate investing journey!

@Mohammed Nasser you're probably a bright guy and will have no problem passing the exam.  You also won't have any problem finding a willing brokerage to allow you to hang your license. Just about any brokerage should be open to having you sign on as long as you agree to their terms and fees.  But don't get hung up on the fees/splits.  Being new, you will want to be surrounded by good leadership that provides some decent training and guidance.  There is much more to being a solid agent than just lead generation. 

It's tough to become extremely competent as a PT agent, IMO. If you intend to only do transactions as a side hustle to your W-2 career, PT is fine but not so great if you intend to serve clients looking to transact millions of dollars. Your local MLS should provide local market conditions but the best way to stay informed and grow in competence is to be active IN the business full time. Best wishes on your real estate journey!

Welcome to BP and congrats @Eric George for deciding to get into the business!  Not that you're seeking advice but two quick tips on being an agent and an investor.

Agent: Focus on having daily conversations about real estate. Not just a text or email, I mean an actual face-to-face or phone call conversation with anyone. More listening than talking on your behalf. Reach out to engage with people seeking info about real estate, neighborhoods, etc. Try to be an information resource.

Investor: Resist "analysis paralysis" at all cost. Don't wait for that unicorn deal that you hope will be a home run. Don't make reckless, hasty decisions but at some point you need to pull the trigger and get one under your belt. It may not be a home run in terms of cash flow or ROI but the education will be incredible and set you up for future deals.

Best wishes on your real estate journey!

Yes, I'm a seasoned agent that works a lot with newer investors or those with a property or two looking to scale up.  The hardest part is getting them to be patient in a challenging market with low inventory and high prices that don't align well with financing.  Everyone wants that stellar off market deal offering super rare seller financing terms.  Don't we all?  I tell them to get in line. :)

The hardest part of working with out of state investors is trying to navigate their schedules that usually prevents them from inspecting/touring properties promptly.  Especially in a hot market when properties get under contract very quickly.  Also making an offer and telling the listing agent/seller that the buyer hasn't even seen the property yet. 

Yes @James Brown! Particularly THIS quoted section of yours below....I also bolded/underlined some nuggets to highlight for investors.

"How can an investor differentiate themselves to attract agents to want to work with them?

To attract top real estate agents, an investor should focus on demonstrating preparedness, and financial readiness. This includes having a clear investment strategy, knowing the type of properties they want, and having finances in order, such as proof of funds or pre-approval for financing.

Agents are more inclined to work with investors who are serious, informed, and ready to act quickly. In addition, investors should show a commitment to building long-term relationships rather than seeking one-off deals. This approach signals future business opportunities and stability for agents.

Being flexible and open-minded to agents' suggestions, including considering properties or strategies outside their immediate criteria, can lead to more opportunities. Offering referrals and testimonials after successful transactions can further incentivize agents, demonstrating appreciation for their hard work and aiding in their business growth.

Lastly, respecting the agent’s expertise and treating them as equal partners can solidify a productive and enduring professional relationship, making the investor a preferred client for top real estate agents."

Here are some attorney offices to reach out to:

https://demcolaw.com/attorneys/ - Greg Fullington

https://www.tuell-young.com/#real-estate - Pam Ford (works for Todd Tuell)

I have never done or intend to do a SubTo deal.  Just sharing attorneys I've worked with for other real estate related items.

My parents have been snowbirds in Wickenburg for quite awhile now.  My stepdad is one of those team ropers you mentioned @Bruce Woodruff, now long retired. They can't believe how the little cowboy town has grown in the last 5-10 years. And you're right...those cowboys coming to town these days have A LOT of disposable income, apparently. I can see how a niche STR tailored to them would do quite well for 6-9 months out of the year. Not sure about summer months.