All Forum Posts by: Sherief Elbassuoni

Thanks @Account Closed, one website I find handy and easy to use in calculating the appreciation "goodcalculators". just write down in google (good calculators website- home appreciation calculator) and it should show up for you.

Let me know if you got questions or if you are not able to locate it :)

@Shain Cannon, the rent of some of my properties are above the market comparable (because I use high-end finishes) and still see vacancy less than 10%. One more thing I do is that 3 month before renewal, I send a lettet to my tenants and tell them new year rent is gonna be $x. If you renewed by next month, you will get this discount. If they renewed, that is fine. If they did not renew, that is also fine, but at least I have one to two months to advertise and find new tenants.

Feel free to call if you got other questions.

Thanks,

@Orion Bukantis, I would recommend you to invest in the place that makes financial sense. If grandpa can offer you owner financing, or a price cut, and the market there is pretty strong, you should consider buying his house.

That said, the Seattle market in here is a pretty strong rental market. It leans a little towards appreciation, but I still see deals that generate very good positive cash flow. 

I am an investor-friendly agent and investor that owns my own properties. Let me know if you got questions and we can have a call or coffee to discuss your long-term real estate plans and how I can help you achieve them.

Thanks! 

@Drew Whitmore, that is right, it is either 3.5% FHA, or 15-25% for small multi-family. This is why we house hack or use creative strategies like ADU, DADU, Mother-in-law, rent by room, ......

Having a decent ADU may generate a decent cash flow, or offset your mortgage significantly while still putting 5% down. The cities of Seattle and Tacoma also allow non-owner-occupant ADU. So you may be able to rent one single-family to two small families or two young professionals separately.

I have a property with ADU in Seattle.

Feel free to reach out if you got questions or comments and we can discuss more.

Thanks,

@Jacob Whitbeck, it is working now, I was able to find it in the event section

@Shain Cannon, I think you are already on track with house-hack, and BRRR. These two strategies are amazing especially in a hot market like the greater Seattle area.

I like your plan of quitting your job in 2-5 years. As an investor, and investor-friendly agent, I can help you achieve this goal using different strategies like BRRR, ADU, Mother-in-law, rent by room, ......

I live a few minutes away from you. Let's plan a call or coffee to discuss your plans furthermore.

Thanks!

@Ryan Burton, if you followed what @Suzanne Nelson mentioned, you should have a good tenant. 

@Leonardo Maia, the greater Seattle market is great. You already have a property in Seattle, so you know how competitive the marktet is in here. It leans a little more towards appreciation more than cash flow. That said, we still have a lot of good deals that are generating amazing cash flow. 

Let me know if you need help in here in the Greater Seattle area.

Cheers,

@Ryan Burton, congrats on the purchase of the house. I typically go with income=3times the rent, and prefer credit score higher than 650. I use (Cozy dot CO) for my management and it is pretty good. It has integrated screening system within. The only comment I have about Cozy is that money takes a few business days till it shows up in my checking account, but this is ok for me since it is a free service. 

Hi @Jordan Workman, it is great that you already analyzed 50 properties so far. You are right, it is not so easy to find cash flow properties in an appreciation market like Seattle. That said, the greater Seattle market still has good deals that generate decent cash flow. You just need an investor-friendly agent to help you find these deals. One question, are you open for other options other than duplex? are you OK with ADU or Mother-in-Law? Sometimes numbers of a house with ADU or MIL make more sense than duplex.

Let me know if you have comments or questions, and we can schedule a phone or coffee to discuss that in more details