All Forum Posts by: Evan Dobrowski

@Amanda Dallman I agree with your thoughts and am already noticing the start of that in Packwood, WA. There are a ton of STR listings, more than half the town. Folks bought them thinking they were going to rent out every night and got mortgages based on those numbers and are now having a rough time, especially with the lack of snow this year we've had, which is the major draw for the area. Prices are still reflecting the inflated prices folks were paying for these STR's but they are slowly coming down. There are already a number of STR listings on the MLS which have reduced prices since listing and these owners are likely going to be sad when they can't get the money back out they paid. I'm hearing from the realtors in the area more are in talks to list. If interest rates stay high I'm suspecting lower listings prices and higher inventory due to the STR's not being as great of an investment as folks thought.

Hi folks,

My wife and I are looking to purchase a vacation cabin in Packwood not for use as an Airbnb. We have been keeping our eyes and ears out there for the past year. For anyone that is looking at developing or purchasing an STR in Packwood, WA I would take a peek at the numbers that are on the rental sites and the amount of bookings. Currently we are seeing STR owners posting for sale due to reduction in prices they can get per night and the vacancy rate increasing. The Packwood, WA market may be officially saturated on STR's. Also 4th quarter of last year Packwood and county officially did discuss potentially regulating STR's by either limiting numbers or adding a tax to cover increases in local services that are needed.

Hi folks,

My wife and I are looking to purchase a vacation cabin in Packwood not for use as an Airbnb. We have been keeping our eyes and ears out there for the past year. For anyone that is looking at developing or purchasing an STR in Packwood, WA I would take a peek at the numbers that are on the rental sites and the amount of bookings. Currently we are seeing STR owners posting for sale due to reduction in prices they can get per night and the vacancy rate increasing. The Packwood, WA market may be officially saturated on STR's. Also 4th quarter of last year Packwood and county officially did discuss potentially regulating STR's by either limiting numbers or adding a tax to cover increases in local services that are needed.

Hi folks,

My wife and I are looking to purchase a vacation cabin in Packwood not for use as an Airbnb. We have been keeping our eyes and ears out there for the past year. For anyone that is looking at developing or purchasing an STR in Packwood, WA I would take a peek at the numbers that are on the rental sites and the amount of bookings. Currently we are seeing STR owners posting for sale due to reduction in prices they can get per night and the vacancy rate increasing. The Packwood, WA market may be officially saturated on STR's. Also 4th quarter of last year Packwood and county officially did discuss potentially regulating STR's by either limiting numbers or adding a tax to cover increases in local services that are needed.

Hi folks,

My wife and I are looking to purchase a vacation cabin in Packwood not for use as an Airbnb. We have been keeping our eyes and ears out there for the past year. For anyone that is looking at developing or purchasing an STR in Packwood, WA I would take a peek at the numbers that are on the rental sites and the amount of bookings. Currently we are seeing STR owners posting for sale due to reduction in prices they can get per night and the vacancy rate increasing. The Packwood, WA market may be officially saturated on STR's. Also 4th quarter of last year Packwood and county officially did discuss potentially regulating STR's by either limiting numbers or adding a tax to cover increases in local services that are needed.

Hi folks,

My wife and I are looking to purchase a vacation cabin in Packwood not for use as an Airbnb. We have been keeping our eyes and ears out there for the past year. For anyone that is looking at developing or purchasing an STR in Packwood, WA I would take a peek at the numbers that are on the rental sites and the amount of bookings. Currently we are seeing STR owners posting for sale due to reduction in prices they can get per night and the vacancy rate increasing. The Packwood, WA market may be officially saturated on STR's. Also 4th quarter of last year Packwood and county officially did discuss potentially regulating STR's by either limiting numbers or adding a tax to cover increases in local services that are needed. Just be aware and do your due diligence.

Heck yes I would buy a house with solar panels; but only if I own them and I know the age of the roof/condition underneath them.  In fact anytime I have a property with a metal roof I put solar on because the pay off is about 10years but it increases resale value and I can charge tenants extra for the environmental good they feel.

I have heard a lot of investors saying now is the time to sell your less desirable properties for long term holdings.  I've heard others say if you think your going to sell in the next 5-10years do it now.

I personally have a property that had a terrible conversion from SFR to duplex that doesn't need $100K in repairs but could use refreshing I would estimate in the $30K range. I've been living in one side and renting the one that needs repairs to a family member. We just sold this property because it's our least desirable for a $200K profit and utilizing that money in different investments.

Keep in mind with the tax exemption if you've been claiming it as a rental your accountant will still need to calculate capital gains based On any depreciation you've used during previous tax years. For me over 3 years of holding I only have about $4K that will end up being paid in capital gains. This is even though I lived in it and qualify for the capital gains exemption.

I will buy anything that's a good deal.  I don't have any properties newer than 1995 or older than 1910.  I would prefer not buy a house built with glue-lam beams which is basically anything by a mass builder from 2000 into the future.  Way to many new homes have serious issues when water gets in unlike solid wood construction of the past.  Electrical, plumbing, and cosmetics can all be replaced if the deal is right.

I agree with Simon.  You would have to find a not so bright investor to give you 20% for that amount of work.  Don't be greedy, think about what your actually giving to the investor who is then putting up all the capital, time, effort, etc.

To give an example of how this could work.  1st get your realtors license.  2nd find the deals and then 3rd work with an investor who pays you your listing/buying agent fee plus offers 1-2% of the deals as a buy in for you to make sure your doing the due diligence and it'll be a good deal for the investor.  I work with agents and offer then a piece of the pie to entice them to due better due diligence, and bring me deals instead of the other investors they work with. But I would absolutely never but all the capital, work, effort, and risk in to them give away 20% of the profits.