All Forum Posts by: Chelsea Shapiro

@Dylan Barnard this post made me smile with the varied responses. It totally shows how diverse the different markets are across the country from Oregon providing tips on tapping into the local tree experts to Texas and the South citing the need for shade. Just a fun reminder that even though we're in the same industry we're all approaching it from a different perspective!

Most of this has been said, but just to reiterate the view from where I sit... I love it when a client recognizes my value and respects the time and effort I put into them.  I do not write offers to come in second place, so writing un-realistic offers that have 0% chance of getting accepted is a no-fly zone for me.  When clients have realistic expectations on the local market it makes everything run smoother, and I can actually deliver the goods.  Loyalty is huge, especially if I tap into my network and resources to enhance a clients experience.  

How often are you using estoppel certificates on your small MF deals (2-4 units)? I'm curious to see what's the norm in other markets. Also curious if COVID tenant trends have sparked an up-tick in this practice? 

My husband and I have decided to list our studio condo located in a luxury market outside of Seattle.  I know the condo market is a tough sell right now so we're strategizing ways to make it shine and get it sold quickly for top dollar.  What marketing have you seen work well on condos lately?  

I cover 4 counties in the Puget Sound area for small MF properties. This is the overarching trend and you aren't alone! I encourage my buyer clients who are house hacking to not get caught up in the cash flow, cap rate and ROI numbers, but rather ask the question "how does this make my life and financial setup better in the next 6-18 months vs now?" If it looks like your cash out of pocket on a monthly basis is better than your setup with renting or owning right now then it might be a good deal for you even if the cap rate on paper is not ideal.

I'm not seeing too many posts about inflation in regards to real estate and curious what everyone's take is.

In most markets prices are still rapidly appreciating. What portion of that is inflation coming in to play?

@Andrew Bissada

Similar story in Seattle. The market is still hot, however most savvy landlords are selling their Seattle properties, not just because of the police, but the City Council has declared open season on landlords and businesses. I think you probably have to look bigger picture and consider all policy decisions, hopefully Austin isn't as completely insane as Seattle.

I use Hamilton Home Inspections frequently and they are fantastic!  Butch has a background in construction which is so helpful during inspections.  They are a husband and wife team so the inspections go quick with both of them.  
https://pugetsoundhomeinspector.com/

@Ryan Rudy In my market cash usually doesnt mean a discount, it just makes you more competitive. With the majority of properties receiving 3-20 offers most sellers dont mind waiting a few extra weeks for a much larger purchase price to close. As long as the lender/buyer are vetted and/or a backup offer is locked in the financing contingency doesnt seem like a huge hurdle to overcome.

@Peter Austin lots of good thoughts and ideas on this thread! I have a similar situation in the Bellevue/Seattle area. We're going to keep it as an appreciation play since Google just bought a building down the street.

The only other thought I'd add is what is the condo market doing right now where you're at? Despite the SFR and MF market being red hot right now, condos are seriously lagging in my area since so many people dont want to live in urban areas if the amenities are closed etc... I think it will take a while for that trend to reverse so that influenced our decision too.