All Forum Posts by: James Dainard

Start off the New Year with my FREE Investor 101 Class.  It's a great opportunity to learn the basics of investing in fix and flips and cash flow properties.  The class is free to attend, we host it every two weeks at our office in Bellevue, WA. It is a great chance to learn about real estate from our experts, who will give real examples and talk about their experience with real estate in the Puget Sound region. It's your chance to network with other potential investors as well as ask questions and speak directly to our team of experienced brokers and investors.

If you would like to attend, please register here...Investor 101 Class, and a member of our team will reach out to you with further information. Hope to see you there! 

Investment Info:

Single-family residence fix & flip investment in Seattle.

Purchase price: $147,000
Cash invested: $85,000
Sale price: $580,000

Mid-century rambler with tasteful updates. The classic layout was a hit with multiple potential buyers, as well as the updated kitchen with all the modern design elements that buyers were looking at, at the time.

What made you interested in investing in this type of deal?

Ramblers are always a safe bet. They're one of my favorite remodels to do because I know they're always going to be a good investment, people love the layout, light updates can quickly elevate the resale value.

How did you finance this deal?

I used a hard money loan from Intrust Funding.

How did you add value to the deal?

Some parts of this rehab ended up being a to the studs remodel. The kitchen was completely ripped out and redone, all of the floors are new and fresh paint all around!

What was the outcome?

The outcome was great. I was very happy with the sale price, I was able to stay on budget and then sold the house for the same as the estimated ARV.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Intrust Funding

Hey Seattle BP community, I'm putting together blog ideas for 2019, what are some of the RE questions you guys have that you would like to see blog posts about? Anything from wholesaling, market updates, selling your homes, fix and flips, etc.  Even specific questions about your projects, let me know! 

Hi @Aaron Putnam, looks like you're in a great position to get started in RE investing.  To answer some of your questions, I'll start with the estimated value of your home.  Zillow tends to be inaccurate when assessing home values, I highly recommend that you use comparable properties, hire an appraiser, or speak to a broker to get a more accurate valuation of your home.  

1.) Houses close to planned light rail stations have already seen significant bumps in value.  Once the station is actually finished, it is likely that your home will appreciate in accordance to the light rail station. 

2.) Capital gains depend on the amount of time you have lived in the home in the past five years.  In answer to the market softening, it's unclear if the market will continue to plateau.  However, the job market in the Seattle area is still strong.  From my experience, real estate is like any other stock, it will fluctuate.  Right now we're in a price correction period, as our growth was exceeding the value of homes.

3.) If you are worried about renting low, there's always an option to make a few updates and try to rent for slightly higher. 

4.) Finding 1% properties is a tough task and highly unlikely that you'll find them on the MLS. To find the prized 1%, you have to be willing to look further outside the city. I've been able to find a few in Tacoma, but these are typically off-market purchases. They're hard to find, and few and far between, but they are out there.

5.) As far as investing goes, I deal exclusively in the Puget Sound region and can't weigh in on other locations.  

I hope this helps answer some of your questions! 

Investment Info:

Single-family residence fix & flip investment in Seatac.

Purchase price: $110,000
Cash invested: $80,000
Sale price: $360,000

Thoughtfully updated charmer near the airport. Fully updated kitchen and re-designed layout. French doors off the dining to a private deck space. Partially finished basement, insulated and quiet with great movie room potential!

What made you interested in investing in this type of deal?

The SeaTac area is booming right now as the city expands. It's a nice little starter home or downsizing option, or just an affordable home in an area that has seen a spike in housing prices.

How did you finance this deal?

Intrust Funding was my hard money lender.

How did you add value to the deal?

I did a complete overhaul remodel of this home. It had fallen into disrepair, so I redid all the flooring, and completely updated the kitchen.

What was the outcome?

The house looks great and ended up selling for a little over asking price, which is a big bonus!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Intrust Funding was my hard money lender. They do a great job!

Hi BP Community, I will be hosting a webinar on Thursday, Dec 13th at noon. We'll be looking back at the Seattle real estate market changes throughout 2018 to project what the market will trending towards heading into 2019. This webinar will be an hour long, ending with a 30 minute Q&A session for viewers to ask me whatever questions they would like!

Hope to chat with you all on Thursday! 

@Leland James Hey Leland, welcome to real estate investing! I always use Intrust Funding for all of my flips.  I do a lot of deals in Tacoma and I've had many successful flips in the area.  

Hi BP Community,  I will be hosting a webinar on Thursday, Dec 13th at noon.  We'll be looking back at the Seattle real estate market changes throughout 2018 to project what the market will trending towards heading into 2019.  This webinar will be an hour long,  ending with a 30 minute Q&A session for viewers to ask me whatever questions they would like!

Reserve your space at this link....http://bit.ly/2En876q

Hope to chat with you all next week! 

@Nik Moushon I was a little confused but that makes a lot more sense now! No worries.

Hey everyone! Just a reminder that my next class will be the last one for 2018, I'll continue to post events for the 2019 class once the schedule is set.  Looking forward to meeting you all on Monday, if you have any questions please don't hesitate to get in touch, you can reach my office at  (425) 881-5131

See you all on Monday!