All Forum Posts by: Denny Hancock

Thanks Andrew! I totally agree with the possible problem scenarios and I'll investigate the possibility of renting additional parking!!!

Thanks Priyanshu & Joel!

Joel, great ideas that definatley might help! However, this is a small town with bitter cold winters so public transportation and biking is not ideal. ;)

Hello, 

I'm in the process of purchasing a mixed use building. 4 residential units and 1-2 Retail Commercial Unit(s)... (~2,000 commercial square feet). In general we're very excited about the deal and feel comfortable with the investment BUT... we are very concerned with a possible parking challenge and I wanted to get feedback from this audience as we are currently working through a due diligence contingency.

The parking situation is that there will be only a few spots (2-3) unofficially assigned to the commercial space. In order for the residential units to be strong we'll need to reserve the remaining parking for them. In addition there is street parking all around and many other residential apartments buildings and commercial buildings (Wall Mart etc.) that help make it a very walkable location and may accommodate occasional overflow.

To me 2-3 dedicated spots seems like very inadequate parking for many potential commercial tenants and I fear that would make owning this investment a challenge. 

I'd love to hear insight and experiences from the Bigger Pockets community!!!

Thank you! Denny

If you haven't picked yet, I just remodeled my home and used Dream Floors with 3 1/2" x 3/4" Oak. They were affordable and did an excellent job! Here's the main guy who I worked with is Victor. Private Message me if you have questions or want his contact info... apparently I can't share in this forum. :)

Thanks Rudy & Christian. In general, i'm bullish on the Seattle market as well for the same reasons you mentioned. That's why i'm happily paying my mortgage... for now. :)

Thanks Amy! I'm feeling the same way.

Thanks a lot Troy, Sam, & Lane. I appreciate your insights! Sam, I just hosted a few open houses and I can say that China was well represented... but so was every other country I've heard of and more! Seattle is getting so diverse! Lane, you got me thinking about selling in the first place. ;) Still feeling confident (enough) about the decision to sell and reinvest in a better cash flow market. I wish I had enough money to do both. :)

Hello,

I've spent a lot of time trying to get educated on real estate investing over the last year. It seems almost all investor advice focuses on cash flow. I get that, but I also recognize I've made a killing in appreciation from owning a SFH in Kirkland, WA. We just put our home on the market and my plan is to take the equity and convert it to a market with much better cash flow. However, the initial response (number and size of offers are very high) is making me 2nd guess my strategy. What if Seattle is the next San Francisco? How likely is real estate here to keep climbing at crazy appreciation rates? My ROI models hinge on appreciation here so that's a pretty big variable that's hard to predict! Any opinions or advice would be appreciated!

Thanks! 

Thanks Kuba... I think I need to see more comps. :)

Thanks for the replies! Sounds like my business partner (mom) knows more than I thought. ;) I prefer solid hardwood mostly because it can easily be refinished, but i'm seeing a lot of benefit from going with the engineered products too.