All Forum Posts by: Natalie Wells

Thank you @Theohicks and @benjamingallant for your thoughts. I'm sure hoping that's the case. Really helpful and appreciate your advise! Definitely looking into commercial brokerages. Thanks!! And didn't realize @theohicks you had a Syndication series! I'll have to check out. Always need to learn more!

As mentioned in a previous post, we are looking to purchase a Multi-Family property out of state in a new market. We are looking to branch out to a new market as Seattle seems to be getting more and more difficult for numbers to pencil out. We have a great track record for previous multi-family projects (45 syndication projects) but this will be our first out of state deal. Looking for any good lender recommendations. So far all we have found for lending is 60% LTV, if even that. Appreciate any advice or suggestions!

Thanks in advance!

Best,

Natalie

@Bart H. Great thoughts and definitely something to take into consideration. I'm really just starting to learn about DFW and that market. Even if we still buy something in WA most likely we will eventually end up out there at some point so It's good to start understanding the market out there.

@Julie Marquez @Kai Van Leuven I had no idea, that's good to know!! I really need to do more looking into these other markets just within WA!

@AaronNelson great points and thank you for your thoughts. I love that you said "your not going to get rich off your first deal". I think it's a very important point especially for new first time investors. It's about getting that first deal and going with it and the long term opportunity! Thank you for that reminder. I see you're an agent too, if you see any multi-family deals in Maple Valley, please send them my way!!

@BrianJuris some great points. Ideally, we would like to get a couple multi -family properties here and then eventually if we do have to move to TX then invest there as I already have pretty great contacts here as far as partners, property managers, contractors, etc. So our business could be hopefully running pretty smoothly at that point at least as far as biz structure and logistics . But it's being patient through the process of trying to find a deal lol! I'm mainly focused on eastside- Issaquah/ Redmond, even Snohomish area. A little cheaper then Seattle, not much though, but not a lot of inventory :(

@VaughnK thank you so much for all your knowledge and advice. You dropped some serious gold nuggets of knowledge and make some great points. There is obviously a lot of factors that go into this, but I definitely agree with you that Seattle is towards the top and probably going to start coming down or already is starting based off what I have seen this last year. The other part of it was, ideally, I was hoping to buy a 4plex and house hack it for a bit living in one unit at least for the next year or so to get good financing as owner occupied. This also depends obviously on the price if that's even an option. Just one scenario we are considering, we don't have to live in it. I'm definitely going to check out some other areas as your suggesting just in WA. I honestly had not even thought of that as an option.

@DionMcNeeley great suggestion. My mom lives in Graham so I know that area a bit. I haven't done much looking out that direction but I definitely will now. My focus hasn't actually been Seattle but more eastside, Issaquah/ Fall City/ Redmond area. Which is a bit less expensive then Seattle. But got out bid on 2 different fourplexes, one because of an all cash offer (I'm doing traditional financing) which was a screaming deal at $650k and the other was just over a mil but seller went with a local company that wanted it for their artist and she wanted to stick with building the Issaquah community. I'm attempting to send out letters to all the triplex to 4plex owners in Issaquah and will see how that goes. Problem is there is not a lot of inventory on the market for this especially on the Eastside. Definitely, will look more into the areas you suggested. Other part of it, is ideally I want to owner occupy it for a year or so which has kept me looking on the Eastside since we are in Sammamish. So many factors and choices!

Wow @ArunN that's good to know. I didn't know the property taxes were that high in Texas. Just starting to learn about that market. Helpful info, thank you!

@GrantFosheim I really appreciate those two main reasons and you actually hit on the very factors I have been going back and forth on, which is building long term wealth and having control over the asset as well as finding/ pushing that appreciation. Very helpful advice! Working in multi-family syndication I have seen first hand the amazing benefits and wealth that can be created specifically for the Seattle market. So although I haven't found my own personal multi-family deal yet, it's hard to walk away from this market (although I have been considering it with being frustrated) having seen what can be created here! But it is a bit frustrating when you just want a deal and you keep loosing it to other investors. Haven't look much in Everett though :)