Home Buying in Seattle>Question Details

Kojo, Home Buyer in Seattle, WA

I am interested in investing in multi family units . where do I start? I ambased in the Seattle WA .region

Asked by Kojo, Seattle, WA Wed Oct 10, 2007

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if you are a beginning investor, begin to educate yourself by reading books, attending seminars, etc. You would want to employ the services of a real estate agent that works with commercial properties and has personal experience in purchasing and renting rental income properties. Your agent should also be able to help lay out a financial wealth building plan for you and refer you to a team of experts to make your journey more financially productive.
1 vote Thank Flag Link Thu Oct 11, 2007
My best advice is to sit down with a good, hard working reputable realtor in the area you are thinking of investing into MDU's in...share what your goals and plans are and together you two can draw up a plan and begin looking for the right places for you.
If you don't want to manage the properties yourself if might help to find a realtor who also handles property management. This is usually a nominal cost and can help take stress off of you as well.
I hope that helps...my brokerage as well as several others out there are able and qualified to do both...just find somebody who will work hard for our interests and who you feel comfortable working with.
Web Reference: http://www.agentsamuel.com
1 vote Thank Flag Link Wed Oct 10, 2007
Visit this site http://commercialinvestmentstrategies.com/ They're good with multifamily Investment!
0 votes Thank Flag Link Sun Feb 10, 2013
The best place to start is http://www.johntreed.com. Answers to any and all questions pertaining to multifamily investing are there, or in the books he offers. As far as RE investment advice, his books are by far the best value for the money. Straightforward, down-to-earth and no BS. And his RE gurus rating page is one-of-kind.

When you want to know what sort of multifamily investments are currently available in the Seattle area, call me. I have a 25-year track record of multifamily investing which includes a transactional volume of $900 million.
Web Reference: http://www.johntreed.com
0 votes Thank Flag Link Sun Jul 26, 2009
Hey Kojo, what did you end up doing?
0 votes Thank Flag Link Wed Sep 17, 2008
Hello Kojo,

I agree with Barbara's advice. I would recommend that you start by reading a good book on the topic. My favorite book thus far has been "The Millionaire Real Estate Investor" written by Gary Keller. It's available on Amazon.com for $15.00. If you don't want to wait, you can pick up a copy at any Barnes & Noble. Doing some initial research upfront will make it easier to speak the lingo and it will also help you become more familiar with the pros and cons of investing in multi family units.

(Disclaimer: Gary Keller is the founder of my brokerage brand Keller Williams, which is how I found out about the book in the first place. It's not written just for agents. It's written for anyone interested in investing.)
0 votes Thank Flag Link Thu Oct 11, 2007
The first thing you should do is sit down with your mortgage person, find out how much you can afford and what interest rate you will receive on an investment property. Expect Interest rates will be higher for an investment property. Once you have completed that process and know what price range you will be looking in, contact a good realtor ( one that has experience in multi family units would be helpful, but not necessary) . Since this is your first purchase, take your time and look at several properties in different areas. You will find that after a while you will know what you want in your investment. That is when it is time to buy. You will know value and condition much better if you do this. Good luck and enjoy the process.
0 votes Thank Flag Link Wed Oct 10, 2007
Hi Kojo,
we have unbelievable deals for multi family units right now, if you send me your email at reinalliance@gmail.com I will send you a deal that is better than any deal right now

Some details are available at the link below
0 votes Thank Flag Link Wed Oct 10, 2007
Hi Kojo,

Perhaps you can start by checking out what is available. Trulia currently shows 87 multi-family homes for sale in Seattle which you can view if you access the link below.

You can also refine your search using the filters on the left side of the page if you have a price or other features in mind.

I hope this is helpful.

Best Wishes,

Emily Gibson
Customer Service Representative
0 votes Thank Flag Link Wed Oct 10, 2007
If you've never owned one before, there's a complex of 4 plexes down in Federal Way that sell for $450,000 to $500,000 or so. On site management handles everything. Might be a good place to start. Try Panther Lake. There's one at $453,000 and one at $499,000. Be careful about pricing though. Try to work a hard bargain.
0 votes Thank Flag Link Wed Oct 10, 2007
Decide on an agent that can assist you, decide on what you are interested in - duplex, triplex, 4-plex, etc and a price range and begin looking. It is a great time to buy investment properties.
If you need assistance, I would be happy to help and have lots of experience with multi family units.

Good luck and I look forward to hearing from you.

Lynn
0 votes Thank Flag Link Wed Oct 10, 2007
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