All Forum Posts by: James Dainard

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $1,050,000
Sale price: $1,570,000

Multi-family tri-plex in a stunning location, with sweeping views of the bay and the mountains. The entire building has been remodeled with new kitchens and bathrooms. Each unit has its own viewing deck and private entrances. Easy access to major tech companies offices, and future access to light rail.

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

This is a really desirable location, especially with the view, the value on this building was guaranteed to appreciate, especially at the rate the market was increasing.

How did you finance this deal?

I worked with Intrust Funding

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

Intrust Funding

Hey @Ryan Kurth I have a colleague who specializes in multi-family.  Let's get in touch and we can discuss details further! 

@Christian Tassinari It depends on the contract, you'll have to look at the fine print and ask you escrow and title companies what was in the original agreement. 

Congratulations Stanly! Such an exciting time getting things started.  It can also be a little overwhelming.  Never be too shy to ask for advice.  I've had my own company for 10 years and I still ask advisors for input and knowledge! 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $400,000
Cash invested: $115,000
Sale price: $825,000

Elegantly updated home. From a swooping roof line to a custom metal awning, this home has major curb appeal but it doesn't stop there! Open living spaces and custom kitchen with designer finishes, make this the ideal charmer!

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

The location was doing really well at the time, the house had a great original look. It was the ideal mix of renovation and updating that would bring a great ROI.

How did you add value to the deal?

The house needed a lot of cosmetic and structural fixes. The basement was unfinished, so we were able to add some square footage as well as a nice additional living space. The backyard needed to be cleaned out and a fresh coat of paint goes a long way!

@Adrian Chu I agree that buyers are looking for older homes, especially in some of the neighborhoods we have in Seattle.  For example, I'm currently in the middle of project in Ballard, an area known for it's character and local charm.  I'm working on a craftsman house that needs A LOT of work.  We're putting a big effort into restoring the home back to it's original charm.  It would have been cheaper for us to put up a big modern box in the lot, however, we want to keep the integrity of the neighborhood, and transform a house from a safety hazard to a bright spot in the neighborhood.  

I agree that people like the option to customize their homes.  However, in our local market buyers will need a huge budget to renovate older homes with seismic upgrades, foundation updates, asbestos, mold removal, etc.  My team has the resources to make all the major changes so that buyers have an easier job to customize.  Or, we provide a great floor plan that only needs a decorative touch. 

I would like to invite everyone to the last installment of my four-part webinar series on construction.  This last webinar will cover inspection responses, 35R, permitting, and dealing with problem contracts and closing a project out.  If you want to catch up on Parts 1-3, you can find all of them on our website, or follow this link >> Construction 101 Webinar Series

Following the format of the previous three webinars, I will give a 30 minute presentation follow by 30 minutes of questions from our viewers.  I encourage all of you to turn out and bring all your questions! 

@Kody Henderson Hey! Would love to connect with you, I remember when I was first starting out.  It can be daunting! 

@Michael Marchman I used a hard money cash lender, I work closely with and partner with Intrust Funding in Bellevue, WA. 

@Jay Hinrichs Thanks for your input! We have been able to find some 1% rule deals, they are typically off-market and they are rare to find, but not impossible.  We have a great team that is local in the Puget Sound region,  we put a lot of hard work and time into this area. 

Investment Info:

Single-family residence fix & flip investment in Seattle.

Purchase price: $585,000
Cash invested: $208,000
Sale price: $1,100,000

Tastefully updated 1930's brick Tudor style home. The perfect blend of historical charm with all the modern luxuries! A lot of quality work was put into this renovation with a conscious effort to maintain and restore the original brick charm.