All Forum Posts by: Jake DeAtley

@Tyler Blackwell I appreciate the input. I am looking at some properties in Centralia right now and see rents on a  900 sq ft 2/1 duplex  currently renting at $755. The building appears to be in pretty good shape and I think that market rate is closer to $850 based on what I am seeing. 

I've really been pretty interested in Shelton / Mason County recently because I have heard that they are getting a Costco. I have not verified this, but if that is the case, it seems like that area is continuing to grow and is in a pretty good geographical location as people continue to move out of the greater Seattle area. What are your thoughts on the Shelton market?

Thanks again! 

@James Marszalek Hello James, Yes, it does show up on the desktop, however when I initially looked on my phone, the date was not present.

Thanks! 

@James Lusk I appreciate the reply. I am definitely looking for a property with some opportunity to value add. I will need to continue to familiarize myself with market rates in particular areas while considering the specifics of the units, but I am getting there. I am curious what % you increased rates right away, if that caused any immediate vacancies, and how you notified your new tenants of the increase? did you justify it purely off current market, or did you make some improvements to the units? did you issue some formal letter? Thanks! 

@Curtis Bidwell Hello Curtis, I appreciate the reply. And yes, it quickly became evident that things are hot. I initially thought that I would wait for a market decline, but I don't want to be looking back 3 years down the road and wishing I took advantage of the cash flow. 

I appreciate the insight regarding how crazy rental rates are going up. I just took an 8.3% increase on my own personal rent this month! I have been realizing that there are many opportunities to bring rates up to market, and I suppose I just need to continue to look for properties renting under market rates. 

Thanks again!

Hello BP friends,

I've been extremely laser focused in on trying to get into real estate investing this year and have a goal to buy a good cash flowing deal before the end of the year. Ideally a 2 to 4 unit in Thurston county, however I would be willing to get into surrounding counties and/or single family if the deal was right. I've been using various websites and tools to look for deals, but we all now the MLS is really hot right now. Is it just me, or are the only potentially decent cash flowing properties (at least on the MLS, Redfin, Zillow, etc.) in Grays Harbor County?  I generally go by the 1% rule as a first test, and almost nothing meets that criteria in Thurston, Mason, Lewis, and Pierce counties. Thoughts? Has anyone bought a good deal on any of these websites recently?  I definitely need to start getting more creative.... Hmmm

I appreciate anyone and everyone's input!

Key Words: Washington, Greater Seattle, I-5, Tacoma, Olympia, Tumwater