Who is the best Broker or Agent specialized in positive cashflow property in Seattle?

Asked by Jonathan, 98118 Fri Feb 12, 2010

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18
Ardell Della…, Agent, Kirkland, WA
Fri Feb 12, 2010
Thanks Scott. That's what I think too. Jonathan is looking for the best cash flow for an "investor group with 20% down". I don't even think that's possible...let alone "best". My investors generally have at least 30% down and are not looking for "cash flow".

Most of my clients are owner occupant residential. The few investors tend to be seasoned and not about "cash flow".
2 votes
Ardell Della…, Agent, Kirkland, WA
Fri Feb 12, 2010
Funny you said that Mack. I was just about to say:

Q. "Who is the best Broker or Agent specialized in positive cashflow property...?"

A. Not ME! LOL

That has to be a "first" ;)
1 vote
Courtney Coo…, Agent, Seattle, WA
Sat Feb 13, 2010
Hi Jonathan - I think you are asking a lot in Seattle - as both Mack and ARDELL are telling you. It is just not very doable. I also saw that you are not looking for a sales person, but rather someone to be part of your team? I would suggest as someone did below that you join an investor club as any of the agents answering this are no doubt going to be the sales person you are not looking for. I guess I need more details?
0 votes
Jirius Isaac, Agent, Kenmore, WA
Fri Feb 12, 2010
You need to select a real estate agent and a loan officer to work with before you do anything. How can anyone tell you who is the best, because everyone will think they are. I do both, and, of course I would love to help you.

As I have suggested in past posts and will continue to suggest, that what prospective buyers do is Google every agent that responds to your question, learn as much as you can about who they are online, read their testimonials, so you know what their clients are saying about them, and then give us each a call and just ask us why you should work with us instead of another agent. Then, pick the best fit for you and then let them go to work for you with the skill and knowledge that they have. I hope I hear from you.


Good luck to you on whomever you decide to work with.
0 votes
Scott Seppi, , Bellevue, WA
Fri Feb 12, 2010
Ardell, I've found financing at 35% down is fairly easy to come by but less than that and it's a different kind of ballgame.

The interest rates I'm seeing are also quite the shocker to anyone who is only used to owner occupied financing.
0 votes
Ardell Della…, Agent, Kirkland, WA
Fri Feb 12, 2010
Not even 2nd Wayne. In the areas I work in, positive cash flow with 20% down is not doable, best I can tell. Rents are going down, prices even for bank owned and short sale don't cash flow as rentals.

Will be interesting to see someone come up with a where of positive cash flow at 20% down. Not even sure 20% is enough for an investor loan these days for condos or multi family.

Can the lender-types here comment on the downpayment required for investor loan? I'm seeing 25% or more as the norm.
0 votes
Wayne Lubin, Agent, SEATTLE, WA
Fri Feb 12, 2010
OK then Ardell. Let me be the first to say, second best!
Wayne
0 votes
Mack McCoy, Agent, Seattle, WA
Fri Feb 12, 2010
The real estate agents who post here are only going to recommend themselves, unless we're mad at somebody. You might try a local investment club. There is no tournament where we can point to someone and call them the "best."
0 votes
Jonathan, Home Buyer, 98118
Fri Feb 12, 2010
Mr. Rob Graham,

Thank you very much for answering both of mine questions. The second one is more specific. I do not have a specific neighborhood because I am going where the deal is. Yes, I do have those questions for the interview process. Thanks for your tips!

Do you know anyone you can recommend?

Many thanks!!
0 votes
Rob Graham, Agent, Seattle, WA
Fri Feb 12, 2010
I would recommend you decide what neighborhoods you want to fucus on. Then interview agents. Ask them if they own rentals themselves. Be specific. Ask them how many rentals / cash flow properties they have owned / sold. Ask them how many investors they are currently working with. Don't ask them if they have experience working with investors or if they feel comfortable working with investors. Everyone will say yes.

Good Luck.
0 votes
Jonathan, Home Buyer, 98118
Fri Feb 12, 2010
Everyone - Thank you very much for responding!

I have a group of investors, and we have an LLC. We are pre-qualified, and no problem with 20% down. We are looking for an experienced positive cashflow Realtor, who is a residential properties investor, to be a team member. No sale person please.
0 votes
Scott Seppi, , Bellevue, WA
Fri Feb 12, 2010
Perhaps if you were to describe your circumstances, we could get a better idea of where to send you.

Mark asks a great question, whether (and how much) you'd be bringing to the table will make a world of difference. Financing residential investment properties without "skin in the game" is difficult to say the least.

Have you purchased investment properties before?
0 votes
Daniel Poach, , Bellevue, WA
Fri Feb 12, 2010
John,

I specialize in investment properties and have sold/bought several throughout the Seattle area. Right now there are several opportunities to secure a property that will produce cash flow. I would be happy to meet with you to discuss your options in more detail.
0 votes
Mack McCoy, Agent, Seattle, WA
Fri Feb 12, 2010
Do you have any money to put into the deal?
0 votes
Jonathan, Home Buyer, 98118
Fri Feb 12, 2010
Residential investment property.
0 votes
David, , Seattle, WA
Fri Feb 12, 2010
There are different types of cash-flow properties. Apartments, industial, storage, etc. What sector are you interested in? I focus on multi-family properties,
Web Reference:  http://www.nicardgroup.com
0 votes
Ardell Della…, Agent, Kirkland, WA
Fri Feb 12, 2010
Positive cash flow is likely more related to how much downpayment you are putting on the property. A little more detail would help. If you are looking for close to zero investment and positive cash flow, I'm not sure that is doable in areas outside of possibly Tacoma-ish.

The responses here will be interesting.
0 votes
Scott Seppi, , Bellevue, WA
Fri Feb 12, 2010
What sort of positive cash flow properties are interested in?

Are you looking at single family residences? Multi unit properties?
0 votes
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