All Forum Posts by: Wes Johnson

Hi everyone, I’m looking for more experience in rentals and wondering if anyone has any downtown Seattle corridor Single Family Home, Condos, or Multi-Family Homes they are looking to rent/lease out and would consider something like a best efforts or master lease agreement. Please let me know if interested. Thanks!

I am looking at a master lease of a property at Stevens Pass and it has plumbing issues during the winter time. Can anyone recommend any plumbers that serve Stevens Pass area during the winter months?

Phenomenal write-up @Brian Hughes! Thank to for the nuanced look at South Park and also regulatory headwinds coming along. I’m still crunching numbers, but I’m hoping I can make something work to start in multi family there!

@Michael Haas Thank you! The environmental is a good thing to look out for and appreciate your perspective from investing in nearby neighborhoods

With Seattle pricing softening a bit, I’m looking at South Park as an investment area. The crime looks pretty high, and multi-family buildings seem to be concentrated in areas, but wondering if anyone investing there has insight on vacancy rates, what to look out for, and their outlook in this area. Would anyone be willing to share?

@Nick Vought if you currently have limited equity, have $1,200/mo. cashflow, and have three more units that need to be updated, consider:

What is your investment objective? A portfolio? A flip? A combination?

Do you truly consider this a good property? If so, see what you can do to keep it and enhance your cashflow with as minimal cash outlays

Do a sensitivity analysis. Softening of markets tend to pull down top of market properties. If there was a 10-20% correction in this neighborhood, would a rehabbed property be towards the top of this market? What would the rehabbing cost, and how much would you expect cash flow or resale to increase?

3.2% ($14,400 on $450k) is not a massive margin, but it is something. Selling or exchanging with real estate brokers or attorneys will also cut into your topline profits, are you okay accepting this as well right now? If this is an easy property, you might consider saving the cashflow for a year and re-evaluating this decision in a year.

Best of luck, and remember, there are multiple right answers, depending on your goals and timeline