All Forum Posts by: Lynda Lopez

Great thread- thanks for getting this going 

@Corey Smith. We are also just getting going in the south sound (Tacoma specifically) and I'm very interested in the BRRRR strategy to get in on a property, since we have some money down to work with but want to accelerate our investing. The recommendation to a reputable hard money lender is welcome!

I appreciate your thoughts @Ryland Taniguchi about when the next crash is coming (as we all know, these things come in waves, and from what I can tell we're in the middle and high) and how that influences your thinking and strategy about next steps. Can you talk more about what your strategy is to find these off market deals, especially for those of us just getting started? Thanks!

Hey @Alfredo O.  it looks like you've gotten some good feedback here, but for what it's worth I used to own a home staging company in the greater Seattle Area (as of earlier this year) and my answer would be DEPENDS. Some of the properties I staged went to bidding wars and were much more competitive because of the staging (especially because you you cannot under estimate the power of staging for the photographs, and 90% of buyers look online before they visit a property these days. Spaces really just pop with well curated furnishing and decor). Staging also creates a sense that the space is well maintained and there will be more competition, because just like cleaning the windows and sprucing up the landscaping, it gives buyers one less thing to cause them pause before they put in an offer.

Having said that, a few of the properties I staged did not move as quickly, due to how it was priced compared to comps in the area, the particularities of the local market (one house I staged was beautiful and in a good neighborhood but was priced similarly to brand new homes in the same area, so it was hard to compete), and what else is going on with the house (staging a house that has not been deep cleaned or freshly landscaped is like putting a band aid on a broken bone, if you know what I mean) and how else you have (or have not) been marketing it effectively.

Also, keep in mind that if you're house has already been listed, it won't come up as a fresh listing, so just staging it may not actually bring more eye balls to it. Two houses I staged and sold within 2 weeks of getting re-listed (after being previously listed unstaged for 3 months with different agents) but I think that's because they pulled it off the MLS, got new photos done, and did a marketing push that first weekend. All of those things matter, and staging is just part of the marketing strategy.

I'm happy to add more input if you add more details about the particularities of your property. Generally, staging is definitely an investment worth making, as many of the happy realtors who I've worked with can attest.

Thanks for sharing your experiences @Matthew Richey and @Curt McClements. My fiance and I are getting our pre-approval and will be looking for a multiplex (ideally 4 plex) in the Tacoma area this year. Our plan is to live in one of the four units, and hopefully break even (if not cash flow) while living for free to build up for the next property. It's helpful to see a fellow newbie in the game. It's helpful to hear your analysis @Alex Chin about how to evaluate the numbers differently when you're living in one of the units.

Keep us updated Matthew! I look forward to posting about what we find when we get further into the process :)

Welcome @Angela Jossy! Loved your book references. My fiance and I just moved to the Lakewood/Tacoma area last year and are also looking to acquire a multi-plex this year in Tacoma. We've read and have been heavily influenced by Rich Dad Poor Dad and Money Master The Game. Both excellent reads. We've attended the Lakewood and Lacey meetups and have met some great people. Would love to stay connected!

And "HI" everyone else on the forum. Looking forward to connecting more to other locals in the 253 real estate investing community. I am a interior stylist/organizer and former home stager. My fiance does business strategy. We are always looking to connect with good people with similar ambitions (passive income and positive community benefit). Let's connect!