All Forum Posts by: Zierry Eme Carl T. Tagbas

For this year 2021, the accomplishment that I am most proud of is that I bought my first multifamily property at the age of 22. I am currently house hacking and renovating one unit while working fulltime for the state of WA. I will be working on getting my real estate license to become an agent for this year ends! I cant wait what 2022 has to offer!

@Doug Spence Thank you! I am very excited about this new chapter in life! I am planning and hoping for next year after refinancing this property. Unfortunately, I am not qualified for VA Loan yet but I will be utilizing that when I can.

@Andrew Syrios Thank you! Yes, I am allowing college students to rent on this property since it is only few mins away from the campus. At the moment, the tenants that are renting are not students.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $315,000

Located in a college town and quiet street. It a small multifamily: duplex and a little lipstick property.

What made you interested in investing in this type of deal?

I have always wanted to invest in real estate and I always had a passion for construction. I had a wake-up call from myself to go ahead and take the leap, therefore I drive into this property and ready to learn more about my passion.

How did you find this deal and how did you negotiate it?

I found this deal on the MLS and surprisingly the negotiation went pretty smooth + easy.

How did you finance this deal?

I am utilizing the FHA Loan for the first-time home buyers and planning of using the BRRRR Method later.

What was the outcome?

The outcome is that it is finally mine, and I was able to purchase the property with a low downpayment. The property is currently occupied by long-term tenants.

Lessons learned? Challenges?

Lesson learned: be more educated about the closing process - I was not completely aware that I would be taking care of the cash to close (other than the downpayment).

Challenges: I am part of the military and for some reason, my finances were delay therefore, we have kind of put more effort into the closing process. I am also on the west side of WA state and the property was on the east side, and with that, I have only seen the property once (during inspection).

@Miguel Bautista congratulations!! Wow 4 plex! That’s super exciting!

"Deal with things as they come, not as you fear."

I am really excited about the fact that I am going to be a duplex landlord here soon. However, I am a bit overwhelmed by everything. What would you advise for someone who just started their investment portfolio?

@Noah Spiegel Spokane, WA is definitely in one of the hot markets right now. I just recently found and at the end of the closing a property in Cheney, WA (multifamily). I was advised by my colleagues to look just a little outside of Spokane. If I were you, I would always in the lookout for Airway Heights, Cheney, North/South Hill, Liberty lake in the Spokane area. And Post Falls, ID is getting in hot.

College district would be awesome since college students are your market however, the location/neighborhood and buildings are not that great really for first investments...

I currently just put an offer and just finishing up here with a property that is in Cheney, WA. It is in a great location and it's a duplex! However, there we go again with not having that much of inventory. 

@Ryan Herting, I am definitely reaching out to the local REI groups that are in facebook. I wish I have the time to drive to Spokane right now. However, I am on the west coast of WA for the military and can only visit Spokane during the weekends. Definitely husting every day and networking as I go. Thank you for the encouraging words! :)

It is so heart-breaking when you find a duplex to start the real estate journey and it is either under contract or already got sold. I am actively looking for a multi-family in the Spokane/Spokane Valley/Liberty Lake, WA area but there is not much inventory. I am starting to worry that I will have to get another lease to rent a place rather than putting that money available for a down payment.