All Forum Posts by: Jeremy Jones

Hey @Steven Tawresey, feel free to reach out to me when you get to Seattle.  I have a rental portfolio of 50 units managed by Full Service Property Management and would be happy to share some of my experiences and contacts.   I grew up in Denver and I visit often; my parents and two younger brothers (who are also real estate investors) live there.

@Steven W. I had to laugh-out-loud reading your post because my brother and investment partner @Nicholas Jones have had the same experiences, including use of the adjective *terrible*.

A regular occurrence would be us providing some information and asking several questions in an email, to get a response like "Great, thanks. I'll get back to you tomorrow" and then hear nothing but crickets for 8 days meanwhile our hard money loan is going tick, tick, tick, tick.  Eventually I'd drive down to their office myself and show in person daily in order to get some attention.

I also agree with the other commenters on this thread that there are "good" and "bad" people in every field.  Nonetheless it seems the loan officer field is ripe for unresponsiveness because often-times they are absorbed into the most high-pri loan and everything else gets pushed to the side until that one is out of the way.

Hey @Mike C., I'm a buy-and-hold investor living in Lynnwood, WA, and focused on buying multifamily in Snohomish County.  I agree with the other posters who have said the Seattle area is a great place to purchase rentals.

Go get 'em!

@Tim Jones

 take a peek, maybe a good rental prop.

Hi @Jay Boyle how much money do you need as the bridge?

Hi @Kevin Yoo, in the comments underneath my blog post there is a bit of discussion about renting by the room and *not* living in the house.  I started renting rooms in my personal home but then I moved out in 2008, and for the last 7 years I've been continuing the rent-by-the-room and *not* living there myself.  It has worked out reasonably well, but there is more turnover than my other multifamily rentals.  I'm planning to sell that property later this year and roll the equity into another property.  The rent-by-the-room has definitely yielded more cashflow than it would have to rent out the whole house to one family, but I think I can make even better cashflow by rolling the equity into a 5-plex or 6-plex.  It ends up being more work for my Property Manager to find a harmonious fit between the roommates, whereas that isn't a concern for separate multifamily units.

I'm not aware of any licenses, permits, or codes that apply to this method of renting.

Hi @Kevin Yoo, I created a blog post regarding my experience with this and there is some discussion down below in the comments that you might find relevant:

http://www.biggerpockets.com/blogs/6339/blog_posts...

Thanks for posting, @Darren Eady.  I'm an investor in Seattle WA and interesting in utilizing private money to purchase rental properties beyond the pace/scale dictated by banks alone.  I'm checking out your website now.

In my experience so far (investing near Seattle, WA), the more units-per-building, the higher the cashflow.  So a quadplex would be a good buy.  But, I look at all the multifamily properties that I can find and evaluate them individually.  You may find a duplex or triplex that fits your investing criteria and is appealing to live in, so in that case you may want to go for it, even though theoretically a quadplex would yield more cashflow.  It depends on the available deals in your area.  My investing path is half determined by the principles/goals I've set forth, and half determined by what actual deals I can find :)

@Jay Hinrichs true :)