All Forum Posts by: Derek Schlicker

Unfortunately no... nothing.

Hi Everyone - 

I am one year into my life as a real estate investor, and am hoping I can get some resources on cost estimates on new-structure development.

A little background. An off market parcel fell into my lap and I'm trying to run some back of the envelope numbers on a teardown and new-structure development in Snohomish county (its in a downtown area).  

Its a 7,500 sq ft lot with a SFH on it (structure is worthless and should be torn down). My intent is to tear down the structure and build a 3-4 unit MF structure in its place.

I've confirmed the land is zoned appropriately to do this, but just need to find some data on construction/development costs so I can run the numbers to see if they work for my goals. Is there a resource online to do this? Or, what does the market typically charge per sq-ft in your expense? 

I'm also looking for developer references to get rough estimates/vendor selection should I obtain the property. 

Thanks!

Hi Lori!

We're currently looking at buy and hold. Want to learn the lay of the land and are in for the long term equity gains and cash flow. Eventually I'll want to get into commercial and potentially land, but want that experience with property management first.

We're specifically looking in Moses Lake / Ephrata for now, but will be opening up the search area after this first unit closes for the next one. 

Bigger Pockets; smaller world. What's up buddy!

Hi! I am Derek Schlicker, from Kenmore, WA and while I joined BP a few months ago, I'm just now getting around to my intro post.

I'm 34 years old, a lifelong Seattle-metro resident, and work in the tech scene in Sodo/Pioneer Square. My wife and I love gaming, cooking (or home-brewing in my case) and traveling (as soon as we hit financial independence we're headed to NZ and maybe never coming back!). 

We also do some volunteer philanthropic work (my wife is on a volunteer board for Bloodworks NW and I'm on several advisory boards and help run our HOA) and love supporting the local Kenmore/Bothell breweries and restaurants. :-)

I've been keenly interested in getting into real estate investing for the last few years and have finally gotten into the game. We are currently in process of closing our first buy and hold in Ephrata WA, about 3 hours from Seattle (where prices aren't quite so crazy). This will be the first of many! Glad to be here - this site and community is super informative and I'm glad to be a part of it.