All Forum Posts by: Christian Decker

@Shira Albert

Hey Shira

Congrats on taking the step to start reaching out! I am located in Seattle and have been hearing a ton about Spokane and how much it is growing. It seems like a great place to be!

Start talking with agents, lenders and other investors. You want an agent who knows how to be creative and get the deals done. Then you will find success! Don’t be afraid to talk to commercial brokers as well. You never know what they may have!

@Danny Schmidt

There are totally duplexes out there to house hack! If you have the time and patience you can definitely find a good opportunity. Would you be wanting to stay in your current area or are you willing to commute/live in a different area?

@Matthew Leal

On the retail side I would say no. While there are a significant increase in vacancies, 2nd or later generations of retail space has had fairly good absorption.

Office in the downtown or near downtown has had some struggles. But suburban office has been leasing up fairly well. 

@Steven Nguyen

In Seattle, we have not actually seen much of an effect on cap rates. Buyers want a "Covid Discount" but Sellers have held strong and are quite often getting close to, if not at, their asking rate. For retail and office we are seeing around the 5% to 6% Cap rates, depending on lease terms, location and size.

@Steven Nguyen

I personally own and invest in Retail and Office. As a broker I work in Retail and Office leasing, but focus on Retail, Office and Multi-Family sales.

Hi John

I am a commercial landlord and broker in Seattle Wa. What I do is I have a partner who has cash and is willing to invest it. I then purchase (with the partner) the empty commercial space at a discount, release the space and do any needed capital projects needed, then refinance. We are set to refinance a project here soon that we purchased all cash and it looks like we will be able to pull out all the money that has been put in (including a new elevator installation). Then we will do it again.

The beauty of commercial is that you can get non-recourse loans. So, for the property I just mentioned, we will get an infinite cash on cash return with no risk as we are not personally liable for the loan. This process has taken almost a year and a half to do though. 

Best of luck! Shoot me a dm if you want additional deals or have other questions. 

Thanks

Christian

@Brian Hughes

PM incoming! I am a commercial landlord as well as Commercial Broker and happy to answer any questions on both sides!

Hi @Ryan Lehman

I have had a lot of success with Wolf Plumbing. They were very responsive, creative and did good work.

@Sherief Elbassuoni

While some of the lots in Shoreline are able to fit 1 or 2 homes in the back yard in terms of size, the challenge comes with the minimum density of the MUR zoning and the required 20' access to the new units instead of Seattle's 10' access.

Yes this is on 185th.

I 100% agree with this! On the flip side, experienced investors do recognize this and as an agent I have gotten listings and sales because I am a landlord over other agents!