All Forum Posts by: Mason Fiascone

@Jacob Radawick

As a commercial broker in Eastern WA, it’s my full time job to do this, and I still don’t have much luck!

Expect about 12 “touches” before you find success in off-market sellers. Touches being a call, email, letter, etc.

Good luck!

@Thomas Pigeon

Hey TJ and Michelle! Welcome to Eastern WA. You chose a great place to live and invest, that’s for sure.

I have a Spokane commercial broker in mind for you, who I’ve personally worked on deals with, and I’m personally a commercial broker in Tri-Cities, WA, your Eastern WA neighbor to the South. Most of my business is working with investors on multifamily and industrial sales and development. Would be good to connect as that sounds right up your alley.

-Mason Fiascone

Spot on, @Timothy Chi, Eastern Washington was once a perfect market for cashflow investing (5-8 years ago), but cap rates have compressed and rents are rising, making it more difficult to find deals. They’re still out there, and there are lots of properties in need of value-add, but if you’re comparing to 5 years ago it’s definitely harder to find deals.

Hey @Nick Gerli, where are you pulling this data from? No surprise to see Eastern Washington (Spokane) performing so well, but want to dig deeper if possible. Thanks!

@Lintao Cui

If cap rate is your primary indicator for go/no go, don’t be afraid to look East of the Cascades to markets like Spokane or Tri-Cities. We have seen cap rate compression in the last 5 years but not at a primary market rate.

That said, these markets are known more for cashflow and forced appreciation, not simply natural market appreciation like you may find in Seattle or other primary markets (though tough to get much lower than a 4 cap..)

Lots of opportunity out there - Iowa is clearly doing well with families! 

I was surprised to see so few states as well, and some lesser-known markets. Interesting study - agreed! 

What's your take investors? Time to build bigger units, 3 bed / 2 bath, in these markets? How does this help inform investing strategy if you're already in these markets? 

For me, I live and am a broker in Tri-Cities, WA which ranked #9 for the Best Place to Raise Kids in the US! 🏆

It's no surprise that families are moving here from coastal, expensive, turbulent markets. I have regular conversations, especially with residential brokers in town, about how new buyers are flocking into town and builders can’t keep up with demand!

Don’t count the Tri-Cities out. We’re on the map! 📍
And the ONLY market in a coastal state that made the list.

The Midwest is well known for being family-friendly (and this list confirms that), but I can personally attest to the Tri-Cities since I grew up in the Midwest, and moved here to raise my family.

New buyers, renters, and investors are welcome - bring on the growth!

What's your take? Ready to invest?

@Bridget Mason - welcome! and nice last name ;)

Sounds like there's a lot of interest for a meetup to start back up, but it's tough for anyone in the field to start any in-person events due to restrictions. We'll probably have to wait a while before in-person comes back.

I'm happy to connect 1:1 if anyone wants to chat about commercial real estate investing, that's my world all day long in Tri-Cities! 

@Austin Medina, @Katherine Slattery, there used to be a few good meetups in town but I haven't seen any become active again in the last 6 months. Sounds like it may be time to start one again!