All Forum Posts by: JO DIXIT

Thank you Jon Deavers, this is very helpful:)

Dear fellow Investors and Realtors,

I am a new agent on the block! I just passed the WA state real estate broker exam yesterday. I am also a long time real estate investor!

Now, my question to this group is- What are my options to list my 2 ready for sale properties? Should I list them as "For Sale by owner" now on the MLS and later change it to my name as listing agent when I finalize what brokerage firm I would like to work with?

Also, I am looking for brokerage firms here in the Seattle area that charge min office fee. I am looking at listing my own fixed properties for now.

Thanks in advance!

Jo

Thank you William,

I am glad I found Bigger pockets website...hooked on to the podcasts this holiday season:)

Let me spend more time on evaluating properties and honing the skill of catching the right fish:)

Happy to have all you experts around to be able to make the correct choices as I explore this new world of REI!!!

Happy Thanksgiving,

J

Thank you so much Steve for your response and helping me fix the CoC formula value.

If you are familiar with the Seattle RE market...can you suggest the right areas to look at for cash flow and flips.

Appreciate it and Thank you once again:)

Jo

Dear Experts & fellow Home Investors,

Happy Thanksgiving to you all!

I am a newbie from Seattle and have come across an apartment unit for potential investment (cash flow until flip when the market improves).

What caught my attention and interest in this property was the price, considering the location. This is the lowest price property I have found so far that matches my investment appetite (of $150k that results in positive cash flow) plus the fact that it has been listed for over 100 days now.

The numbers however do not meet the expert investment criteria of 50% rule!

This is a 1979 construction, 2 bed 1 bath home (890 SFT with washer-dryer not in the unit) on the market for over 100 days now. The apartment needs a rehab of about 5k before we rent it out.

Quick numbers for your reference-

1. Asking Sale price: $135,000

2. HOA dues for this unit: $320

3. Property tax is $950 annually.

I am making the following assumptions:

1. This unit will fetch a rent of $1100 monthly.

2. The rehab price is about $5k

3. The owner will be willing to accept an offer of $115,000.

Link for your reference here:

Appreciate your suggestions for this property and any other advice you may have for a newbie like me. So far, my focus has been on property areas where there is high demand for rent and resale. I am yet to across any property here in the Seattle area that meets the 50% rule. Am I looking at the right market?

Thanks in advance!

Jo