All Forum Posts by: Teresia Sayler

Welcome!  Enjoy the ride!  Lived in Snohomish 25+ yrs and love being a landlord.  Thank you for all you do as a firefighter!

Agree with the search in between Everett and Bham.  Saw a duplex for sale on a drive through sedro wooley yesterday!  My family made me keep driving, lol. You know, the investor head snap...

Mine are in Everett.  Haven't bought for about 4yrs, due to outrageous pricing.  I've seen multi in Snohomish, but my minimum requirements and conservative ways just don't compel me to make a move here.  I don't want to have to put so much down to get cash flow.

I did pick up a single family in Everett last summer and got a screaming deal, as it was a friend who just wanted out of the loan, as he relocated and didn't want to be a landlord any more.

Unfortunately most everything's online right now. But you could always keep chatting here. Or chat direct with me.

More of a buy and hold, haven't done flips, or major rehabs. I've been a landlord for over 25 years, so that's kind of my thing. Always happy to chat real estate though. Think about the real estate association of Puget sound if you haven't heard of them yet. Lots of networking possibilities there, so they're online most of the time if not all the time too lately.

Are you familiar with the real estate association of Puget sound? We call it REAPS.  There's a Facebook page and a lot of training, networking available.

Set up your funding source ahead of time, so when a deal comes along you can jump on it.

@Sean Steele - you can subscribe to Auction sites like Hubzu, or keep an eye out as you drive around for those with "potential".  Unkempt places could be a sign of absentee owners.  Tell everyone you know what you're looking for and tell them to tell their friends/family.  Sometime someone will need to sell and not want the hassle of fixing it up, nor have the cash to do it.  There are a lot of calculators you can use to determine if it's a good deal or not.  When you think you have your repair/upgrade costs totalled, double them!  Until you get spot on with your own estimates.  That could take a few flips to get proficient.  Buying "ugly" with min work to get ready for sale is ideal.

Donovan - Our local REI club to find lots of advice/local experts is the Real Estate Association of Puget Sound. I would find a multifamily investor who has done what you want to do. Take them to lunch and pick their brain. There's a lot to consider with vacant land and contractors. You might find one who will partner with you. Just know what you want to do...spec build, custom, long term hold, etc. Personally, I don't want the headaches of a new construction project, holding costs, construction loan, and time. Good luck!

Hi Sean!  You may want to join in some local networking clubs.  REAPS is a large one here and there are landlord groups too.  Tired landlords could be "farmed" for leads.  For me, unless I find a super good deal, the numbers don't pencil out in this area.  Depends also on how leveraged you want to be.  Many different ways to play it.  Good luck!