All Forum Posts by: Ryan Xu

Kudos!

@Jacob Whitbeck

If no exsisting one then we set up one. I do most of my brokerage business in King but all my own rental are currently all in Pierce.

I have a friend that had commercial land rent out with a 20-year contract. The renter built things on it and has the right to purchase. Haven't heard any successful story for a lot in a trailer/mobile home park.

Certainly, it will have less demand because this kind of transaction is rare. I'm not saying it won't work. Extra input, marketing, and higher vacancy can be expected.

Everett city itself has almost the best potential around the Metro Seattle area. What do you plan to do? Rental？BRRRR？ Flip? House hacking?

You'll need to make a plan considering your funding and goal. Find some good partners with funds and professional knowledge.

Let's connect and ask me or in this forum if you have any questions.

Seattle is still a strong rent market with an above-average rent rate and low vacancy. However, ROI might be lower due to the high cost

If you're talking about picking one before doing business. Check their track record and online review.

A lot of part-timers in this business actually know no more than clients. A good track record and good brokerage reputation in local can higher the chance you meet a better agent. 80% of people pick the 1st agent they contact while 66% not satisfied after and over 20% say will not do any more business with the same agent.

If you're talking about evaluating after you've done the business for your 1st home. Think about the guidance you get? Does he/she represent you well or talk more for the other side? Does the agent do your transaction with 100% effort or just simply asking you to offer more?  These are also good evaluations for you to make decisions on if you need to change an agent while on the journey.

If by any chance you found you're doing business with an agent you don't like. Change it, there are tons of good agents out there willing to help you regardless of your deal size or experience.

Go with "wholesale trade, real estate....' since you're actually doing the business in that category. If you have other businesses on the side, just make sure everything separated in accounting.

The reason for people filing LLC is for legal protection. As long as you're doing business and maintaining all account stuff separated from your personal and other business, you're good.

Thanks for sharing. 

Although the margin doesn't seem impressive. I guess you guys must have met some unexpected issues down the road on this one. Still good to see you made a profit from it at least.

It'll depend. There is no golden rule for 1%. A higher population density metro will more likely to have a lower rent/price rate due to the higher potential of appreciation and higher liquidity (easier to sell).

In your case, both sound good. I'll definitely choose the 1st property to invest in. Although as you said, 2 may have less chance to depreciate for land, and it cost you less on initial investment or on cash flow. The reason I am choosing 1 is considering it's easier to find a tenant for a house than farmland. Especially if that's a decent neighborhood, you'll have more potential to get better appreciation.

Saskatchewan is nice, I almost moved there 9 years ago.

Aberdeen is a stable low growth market. It has a nice beach a very nice shoreline. Vacation houses over there are nice, and Airbnb businesses are good in the summer when people go fishing, crabbing, and surfing.

However, there is no sign it'll be a rapid population growth anytime soon.