All Forum Posts by: Account Closed

“We’re still not in a buyer’s market and won’t be until inventory reaches a few months’ supply, but the landscape has changed to be more favorable to buyers,” says Darcy McMurray, broker at Spokane-based 4 Degrees Real Estate.

Spokane home market is on the road to balance, some Realtors say > Spokane Journal of Business

Spokane Valley Housing Market: House Prices & Trends | Redfin

Quote from @Naomi Pinger:

Quote from @Sydney George:

I have a couple of properties I need to open a title with. I'm looking for one that has done double closings, wholesales, novations. Anywhere in Washington state works, but bonus points for a Spokane one. Many thanks in advance!!!

I have had good luck with First American Title being investor friendly.  I also know they are connected with CI and are very well familiar with investors needs.  They have an office in Spokane.
Good luck and congratulations on your deals.

 I agree!

Hi! I'd be curious too?  Is the land setup just more valuable as two separate entities...interesting. 

Hi! I'd be curious to know the numbers on this one. Liberty Lake is super inflated right now. If you bought the house already, that's great! I'm not too familiar on the ADU requirements. My thoughts are there are plenty of more 'value' plays for doing what you're talking about in the Valley or some nicer parts of Spokane. Good luck!

I would sell it and just move on to a better property. Anything good in Spokane anymore is way outside the FHA conforming loan limits so you will be stuck paying that high 10 - 20 % down payment. None of the other commenters have mentioned that. Everyone on here wants you to believe that little or no cash down and scaling as fast as you can is the ultimate and only way to succeed at real estate...not true. Buy quality. Wait for something great to come your way. Save up your cash and be a bigger fish in that small pond. Nice work on the bedroom house hacking. Good luck!

Quote from @Sachin Moozhikulam:

With home prices being as high as they are, when I factor in the mortgage payment (P&I), it's been nearly impossible to find a cash flowing rental. Maybe these market conditions are less than ideal for LTR? Maybe I simply haven't found a good enough deal, I'm not sure. I am new to this and slowly learning but currently, my analysis is yielding the same conclusion as yours. 

Spokane was a cash flowing city back in 2019. Not possible anymore. Spokane County fastest growing county in WA. CDA - fastest growing city in the nation. I'd look out of state. Anything decent here is going for $455K. Meaning not built in the 70's 1,500 to 2,000 sq.ft. 3 bed 2.5 bath... ya thats a $2,900 mortgage with today's rates. Jerome and boys will increase rates again .75 in November. This ship has sailed.

Spokane was a cash flowing city back in 2019.  Not possible anymore.  Spokane County fastest growing county in WA.  CDA - fastest growing city in the nation.  I'd look out of state.  Anything decent here is going for $455K.  Meaning not built in the 70's 1,500 to 2,000 sq.ft. 3 bed 2.5 bath... ya thats a $2,900 mortgage with today's rates.  Jerome and boys will increase rates again .75 in November.  This ship has sailed. 

Yay!

I'm surprised you can't find anyone, this town is booming with industry right now, there are thousands of contractors out here.  Good luck!