jasmine: the rehab took 5 weeks...i had an offer the 3rd week on the market (that's dealing with christmas, new year's, and the snowstorms)...while under contract for the full month, i received 4 back up offers..all higher than the original offer...owell

For trophy assets, the inverse is usually true.The point is that if you know what the pulse of the market is for financing rates, acceptable leverage, etc., you can plug in what you deem to be a reasonable IRR given a particular asset and solve for the cap rate. 

I think I contacted the broker the week before Christmas and I will be closing on Friday.It's all been pretty painless.

Think of how the Christmas diner will be for you after you have done that.

Switching gears to another property with similar comps that should allow us to close before Christmas.

I then sold off over time 200 acres of it for 1.6  .. we then held it 15 years and sold to a big Lumber MILL as the timber was now 55 years old and coming into production we got 2.7 mil cash for it.. tax's are ridiculous in Oregon on timber ground less than 2500 a year.. and totally 100% passive.. of course we rode our quads on it and hunted on it.. and just roamed around.. not to mention cut our Christmas tree's each year..

Hi @Steve Christmas...welcome to the investing game and congrats on getting your license!

Tenant applications are less numerous starting in the late fall through winter (at least in Northern states, and you are located in WA which I consider in the North).You already said that you missed the rush, so the next rush would be expected to begin in the later part of this month of November (think Thanksgiving, Black Friday and Christmas shopping), when people really won't be looking to move as much.

Occasionally there is some fluctuation, but I rarely find it difficult to find good tenants other than a seasonal issue around the Thanksgiving/Christmas holidays.

What happens if my tenant has an emergency on midnight on Christmas?