All Forum Posts by: Debbie Welch

Building a double (stacked) DADU in our backyard in North Everett (alley access). We are looking for a General Contractor to run and build the project. Please reach out if you are interested or know someone.

Ignore post, already posted before

Hello! The hubs and I are in the permitting process for our 1st-ever build. Everett allows 2 ADU/DADUs, so we're pending approval on 2 2b/1b units. Met with a GC for the 1st time this past weekend and needless to say, we're off "a bit" on our build estimates. We have a residential loan on the prop now and live in the fixer while we're renovating. In the end, all 3 units will be refinanced into 1 loan, but in the meantime, during construction, we're looking for financing options, without having to refinance our current res loan. We do have about $200k HELOC available from our former primary-turned-rental home, but that's only going to get us almost 1/2 way there. I've been researching and see a few credit unions that do "ADU loans," where they'll assess property value after construction complete, then loan based on that amount. I'm sure there are other options. We've never used hard money or personal loans before, but do have 2 cash-flowing rentals and a primary. Thoughts and ideas are appreciated!

Thanks James! All due diligence done. :) I've not heard of the occupant fee in Snoh Co, but now that I'm aware, I'll be on the lookout!

Hello!! My name is Debbie. My husband, Todd, and I are brand new real estate investors. Our first offer was accepted on our first property last week - a studio condo in Everett, WA. We plan on using it as a mid-term business and healthcare professional furnished rental.

🌎 My husband and I live in Lake Stevens, WA. I'm from the area, but he is a retired Navy transplant from KY. We're looking to invest in the W WA area, but also in areas near our out-of-state kiddos. First will be in the Dallas, TX area.

💫 I joined BiggerPockets to get the highly specialized education for our personal use, but also to be well-educated to help my investor clients. As I have learned, not all real estate agents know real estate investing. Making local investor relationships is also a high priority!! We're so happy to be here!

🤪 My fun fact: Our Covid purchase was a camp lot out in Gold Bar. I thought it was such a novel idea to purchase a get-away spot, not knowing how long Covid would keep us from traveling. Not so novel, I found out later. ;) We bought a lot and a 36' RV (they had to deliver and it will never move...our Highlander won't come close to towing). It's our easy getaway in the woods for peace and relaxation!

Hope to connect with many of you soon!

*Brand New RE Investor - Hello! First post. :) My husband and I live in Lake Stevens and we've just started our real estate investing adventures last week. We had our offer on a studio condo in Everett accepted. We plan on using it for a mid-term business and healthcare professional furnished rental. It's central to both Prov campuses. $215k is how we're dipping our foot in the investing pool. We used $50k down from our home HELOC for a conventional investment loan. Unless something amazing shows itself before (would probably need creative financing at that point), our next step is to rent out our current home (about $1000 net/mo) and move to a fixer, possibly using our VA loan availability and stay for a year, renting after. Rinse and repeat. ;) Our plan is single and multi-family with a mix of mid- and long-term rentals. Short-term is also on our plate, close to the kids/grandkids in TX and wherever any of our other children move. This step for us was WAY outside our comfort zone, but we're here now and ready to go! Hoping to connect will local investors for some starter guidance and local area financing options. Thanks!!