All Forum Posts by: Jinwoo Lee

I would go for SFH units in Tacoma. Duplex and Quads are mostly overpriced and the MLS is flooded with overpriced multi-family units that does not seem to sell.

I'm really sorry to hear that. Johnathan. It looks decent from the outside so anyone could have bid for the house.I feel that you could have done 'cash for keys' before the eviction process that might have saved you money.  I hope this would not be an event to stop you from investing... but just a learning process that might give you motivation. 

I also had some night mares from purchasing a Tacoma condo recently. My agent sorted out some condos that could be used as rental so after visiting I made some offers. After a whole round of crazy going back and forth of making offers and counter offers...finally my offer was accepted. inspection was done and the deal was about to happen. Later on the HOA decided that the new buyers can't use their condos as rentals though they(current owners) have the rights to rent out their places whenever they wanted. what kind of bullcorn is that ? ... Time and money spent... It gave me a valuable lesson to get a agent who knows what to do when finding investment properties.

On the other hand it was good since it seemed that my agent ganged up with the seller's agent and tried to put all their commission (2.5 percent each) total 5 percent on me.

Hi Andrea,

Welcome and congrats on the condo purchase ! 

Regarding education to understand the numbers,  I heard that "What every Real Estate Investor needs to know about cash flow' by Frank Gallinelli is a pretty good book.

Welcome to BP, you've come to the right place.  I was about to say the same thing that   @Charlie Fitzgerald mentioned :) You live in a great area to invest Tony !

I agree, It's totally doable if you know the area well or knowing the right people who can handle it.  

Regarding Japan I heard the real estate has gone down the hill(though it's still expensive IMO LOL).. it makes sense to invest a place where the housing market is more stable. Good luck on your next multi family investment !

Welcome Claire :)  You've came to the right place !

Great post !  I was always wondering the pros and cons too. Thanks for everyone who shared their experiences.

Welcome to BP :)  Good luck and happy investing !

@Enrique Gonzalez

The numbers could work out if each units have decent rents though I would be cautious since it was built a while ago. Besides doing some research about the area, crime reports etc...I would pay a visit with a professional who could analyze the construction (since it's not a cheap purchase). 

@Patrick Vera

I can't say much since I don't have all the numbers and data regarding the property but I think the cost of the property(76000) is a bit high compared to the rents. 62500 Would be considerable if that was to be accepted.  (also did you add the closing costs and repairs,etc ?)

I am also going through my first(investment property)deal and negotiating with the bank right now. It makes me quite anxious but it's a fun process.  Good luck on your first deal !