WSREIP: Your Gateway to Real Estate Success in Washington State

Thanks to our sponsor Inspectify.com

Summary

John Chapman shares his real estate investing journey, starting in 1989 in the Pullman area. He began investing in rental properties to secure his family's financial future and has since grown his portfolio to over 85 units. John emphasizes the importance of property management and customer service, as well as staying current with technology to streamline operations. He also discusses the learning curve involved in building rental properties, including zoning and financing considerations. John's key advice for new investors is to start with a duplex and live in one unit while renting out the other (house hacking). He also highlights the benefits of networking and finding off-market deals. Looking ahead, John plans to continue managing his properties and eventually pass them on to his children.

https://anitasrentals.com/

Takeaways

• Start with a duplex and live in one unit while renting out the other (House Hacking)
• Build relationships with contractors and other property owners in your community
• Stay current with technology to streamline property management
• Consider the learning curve involved in building rental properties, including zoning and financing
• Persistence is key in real estate investing
• Explore opportunities in smaller markets outside of major cities
• Have a long-term vision and exit strategy for your real estate portfolio

Chapters

00:00 Introduction and Background 03:09 Property Management and Scaling 08:00 Importance of Customer Service and Technology 12:26 Learning Curve in Building Rental Properties 21:20 Lessons for New Real Estate Investors 27:42 Future Plans and Exit Strategy

Thank you to inspectify.com for sponsoring this weeks episode!

This week on WSREIP we have a conversation with April Patterson, a realtor in the Skagit County area of Washington state, about real estate investing in the region. She highlights the unique aspects of Skagit County, it being a highly potential investment area due to its geographical location, situated about an hour drive north of Seattle and its proximity to military bases. Due to numerous military bases around, the region has a significant military and veteran population, creating consistent housing demand. April also elaborates on the importance of understanding the larger picture of a property's potential by learning to look past initial problems since it puts investors in a good position moving forward.

April Patterson

April is a Realtor an a veterans advocate. She is a veteran of the United States Navy. She has been volunteering with veterans services since 2015. She earned her real estate license in 2021. She has had the opportunity to work with everyone from residential first time homebuyers (we call them "first time investors") to seasoned investors and developers. She do first time homebuyer classes through the Washington State Housing Finance Commission to help empower folks to take that first step into home ownership. She has extensive experience and knowledge of VA loans and veterans services/benefits allows her to educate veterans on how to start investing using the VA loan program.

00:01 Introduction to Real Estate Investing 00:34 Update on Latest Property 01:53 Understanding Property Potential 03:53 Sponsor Shoutout: Inspectify.com 04:48 Interview with April Patterson: Realtor and Veteran 05:37 Understanding Skagit County Real Estate 07:46 Investing in Multi-Unit Properties 17:37 Emerging Trends in Skagit County Real Estate 19:33 Conclusion and Contact Information

In this episode of the Washington State Real Estate Investing podcast, host Jeff Utecht interviews Derrick Stricker, a second generation commercial real estate broker from Tri Cities, Washington. Derek shares his personal journey into real estate, from considering law school to working in finance and investment banking in Chicago to ultimately returning to Tri Cities to pursue a career in property management and commercial real estate. He discusses the rise of tertiary markets, the importance of local brokers, and the various investment opportunities available in cities like Pasco, Kennewick, and Richland. Derek advocates for investors to get into the real estate market, regardless of market conditions, highlighting the potential for long-term success. He also shares about his personal investment journey and the importance of building trust and relationships in the industry.

About Derrick: Derrick Stricker is a Commercial Real Estate Broker and Founder of StrickerCRE, a boutique CRE shop that provides a Brokerage, Investments, Management and Advisory services in SE Washington. He has over 12 years of experience and has completed over 300 transactions and $300 million in Deal Volume. He has also earned the prestigious CCIM and SIOR designations, which are recognized as the highest levels of expertise and professionalism in the field. He is based in Kennewick, Washington, where he is involved in various community and philanthropic initiatives. He is also a Gonzaga University alumni (BA & MBA) and a former Investment Banker and Corporate Financer in Chicago where he started his career. He is married to Kathleen for 13 years and have two children, Sloane (12) and Duke (9) and live a busy life together.

https://www.strickercre.com/

https://www.instagram.com/strickerCRE

https://www.twitter.com/strickerCRE

Thank you to our sponsor https://www.inspectify.com

Have you ever heard these myths about the impact of technology on real estate investing? Myth #1: Technology eliminates the need for human expertise. Myth #2: Technology only benefits large-scale investors. Myth #3: Technology makes real estate investing too complex for beginners. In this episode, our guest, Josh Jensen, will debunk these myths and share the truth about how technology is actually revolutionizing real estate investments.

My special guest is Josh Jensen

We are excited to have Josh Jensen join us as a guest on the Washington State Real Estate Investing Podcast. With a background in tech and a passion for real estate, Josh is the perfect guest to discuss the impact of technology on the real estate industry. As the CEO and co-founder of Inspectify.com, Josh has leveraged his expertise to develop a platform that revolutionizes the way real estate investors manage their properties. With his extensive experience in the field, Josh not only understands the challenges faced by investors but also offers practical solutions to streamline processes and increase efficiency. As an active real estate investor himself, Josh brings a wealth of knowledge and firsthand experience to the table. Tune in to this episode to gain valuable insights into how technology is shaping the world of real estate investing and to hear Josh's personal journey in the industry.

Speed is king and queen in real estate investments. Our software streamlines the inspection process, from accessing properties to generating high-fidelity scopes of work, enabling investors to save time, make faster decisions, and maximize their returns. - Josh Jensen

In this episode, you will be able to:

• Discover effective real estate investing strategies that can maximize your profits and minimize your risks.

• Explore how diversification in real estate investments can provide financial stability and growth opportunities.

• Understand the impact of technology on the real estate industry and how it can revolutionize your investment approach.

• Stay ahead of the game by staying informed about the latest market trends in Washington State.

• Learn how to build a strong support system in real estate that can help you overcome challenges and achieve your investment goals.

Effective Real Estate Investing Strategies Josh Jensen discusses efficient strategies in real estate investing, highlighting the need for tailored inspections based on investor needs. He emphasizes on removing variables during the inspection process, enabling investors to build robust underwriting models. Consequently, this leads to efficient property management, and the saving of significant amounts of money in high-interest environments.

https://www.inspectify.com

Cole Grode's journey into the world of real estate investing began with a twist of fate. Fresh out of college and in need of a job, he found himself working in the midst of the subprime lending era. Little did he know that this unexpected experience would ignite a passion that would shape his career for the next 15 years. So, how did this twist of fate lead Cole to become a successful branch manager overseeing three locations? Stay tuned as we unravel the story of Cole's remarkable rise in the real estate market of Wenatchee.

In this episode, you will be able to:

• Discover the thriving real estate market in Wenatchee and tap into potential investment opportunities.

• Explore different loan options available for real estate investors and maximize your financial potential.

• Navigate the supply and demand challenges in the Wenatchee area to make informed investment decisions.

• Uncover the desirable amenities in Wenatchee that make it an attractive location for real estate investment.

• Gain insights on long-term success strategies in the real estate market, ensuring your investments flourish over time.

My special guest is Cole Grode

Cole Grode is an experienced real estate professional with over 15 years of industry experience. Starting his career in subprime lending, Cole has since become a branch manager for Evergreen Home Loans, a direct lender. He has consistently ranked as a top 20 producer for the company, showcasing his dedication and expertise in the field. Located in Wenatchee, Cole has a comprehensive understanding of the local real estate market, including the factors that influence supply and demand, as well as mortgage rates. With a focus on assisting investors, Cole provides valuable insights and strategies for both short-term and long-term rental options. His extensive knowledge and ability to find creative solutions make him a trusted resource for individuals looking to make informed investment decisions in the Wenatchee area.

Evergreen Website - https://www.evergreenhomeloans.com/loan-officers/cole-grode LinkedIn - https://www.linkedin.com/in/cole-grode-64698291 Instagram - https://www.instagram.com/team_grode/

The key moments in this episode are: 00:00:00 - Introduction 00:01:09 - Personal Investment Update 00:02:57 - Importance of Connections 00:03:33 - Introduction to Cole 00:04:39 - Current Home Loan Market 00:14:21 - Individual Approach to the Industry 00:15:11 - Planning for Long-Term Success 00:17:00 - Shift in Real Estate Market 00:18:45 - Strong Real Estate Market 00:20:48 - Factors to Consider

Have you ever heard these myths about buying a fixer-upper duplex? Myth #1: Renovating a property is always overwhelming and expensive. Myth #2: Only experienced investors can successfully tackle a fixer-upper project. Myth #3: It's impossible to find a good deal in today's real estate market. Stay tuned as our guest, Julia Muniz, reveals the truth behind these myths and shares valuable insights on purchasing and renovating fixer-upper duplexes.

In this episode, you will be able to:

• Gain insider insights and strategies for successful real estate investing through our engaging and informative podcast.

• Unlock opportunities to grow your network and make valuable connections in the world of real estate through our expert tips and advice.

• Discover the secrets to finding and purchasing the perfect fixer-upper duplex that will set you on the path to financial freedom.

• Stay ahead of the market trends in Tacoma and Seattle with our comprehensive analysis and expert opinions on market conditions.

• Learn about the benefits of low down payment options that can make real estate investing more accessible and profitable for first-time buyers.

My special guest is Julia Muniz

Julia Muniz is a seasoned real estate agent and emerging real estate investor who operates in the Tacoma area. With over three years of experience in the industry, Julia has established a strong foundation of knowledge and expertise in the real estate market. Her professional journey began in 2020, a year marked by the onset of the pandemic. Undeterred by the challenging circumstances, Julia made the decision to pursue a career in real estate, obtaining her license and diving headfirst into the field. In May of 2023, Julia embarked on her first real estate investment, acquiring a fixer-upper duplex. Through her meticulous approach to renovation and hands-on involvement in the process, Julia has gained invaluable insights into the intricacies of purchasing and renovating properties. Her experiences and expertise position her as a valuable resource for first-time homebuyers seeking guidance and advice on real estate investing.

Instagram: https://www.instagram.com/Juliamuniz_realtor

Tiktok: https://www.tiktok.com/@juliamunizrealtor

Thanks to our sponsor The Easy Home Buyer: https://theeasyhomebuyer.com/

In this episode, we're thrilled to have Clint Coons, a renowned expert in business strategy and real estate, share his invaluable insights. Hailing from Tacoma, Washington, Clint discusses the ins and outs of setting up businesses in the real estate industry, what investors should be mindful of, and how to navigate complex legal terrains. Whether you're a novice investor or a seasoned veteran, you won't want to miss this episode.

1. Business Structure: Understand why having the right business structure is crucial for real estate investors.
2. Legal Challenges: Be aware of the common legal challenges and how to mitigate them.
3. Common Mistakes: Learn about the common mistakes made by real estate investors and how to avoid them.
4. Tips for New Investors: Gain actionable advice if you're new to real estate investing.

Clint Coons Clint Coons is a Tacoma-based business strategy and real estate expert. With years of experience in the field, Clint has a wealth of knowledge on setting up and structuring businesses in real estate.

• Website
• Youtube

Hello, Washington State! You asked, and we listened!

Introducing... Season 2 of the Washington State Real Estate Investing Podcast!

I'm Jeff Utecht, your guide through the ins and outs of real estate investing right here in our beautiful state.

From the bustling streets of Bellingham, down to the picturesque corners of Walla Walla......from the coastal charm of Aberdeen all the way to the vibrant vibes of Spokane...

We've got you covered!

Real estate in Washington is unlike anywhere else. It's not just about buying and selling; it's about understanding the pulse of the community.

And that's why we're here. To bring YOU, our listeners, unique perspectives from every nook and cranny of the state.

Each episode, we dive deep with real estate investors, those who've made their mark, and those who are just beginning their journey.

It's about finding those hidden gems in the market, and with the right strategy, even the smallest town can yield big returns.

But that's not all. We also chat with professionals from investor-adjacent companies. Title companies, mortgage brokers, contractors... they all have stories to tell, tips to share, and wisdom to impart.

And their insights? Pure gold for anyone looking to navigate Washington's ever-evolving real estate landscape.

So, whether you're a seasoned investor or just curious about the world of real estate...

...strap in, because Season 2 is packed with inspiration, knowledge, and a whole lot of Washington love! Plus you get to follow along as my wife and I continue to grow our own rental portfolio and the lessons we have learned in becoming financially independent.

If you or someone you know is actively investing in Washington State Real Estate and would like to be a guest on the show head over to wsreip.com and fill out the form on our contact page.

Join us on the Washington State Real Estate Investing Podcast. Subscribe now and don't miss an episode!

Where Washington's real estate stories come to life.

https://www.wsreip.com

Sponsor:

Join the Easy Home Buyers List today!

Want to support WSREIP by being a podcast co-host? Contact Jeff today!

Show Notes:

Welcome to Episode #26 of the Washington State Real Estate Investing Podcast, where we explore the ins and outs of real estate investing in the beautiful state of Washington. This episode is brought to you by The Easy Home Buyer, a one-stop solution for all your home-buying needs.

In today's episode, our host interviews Paul David Thompson, a seasoned real estate investor and founder of pauldavidthompson.com. Paul shares his wisdom on property selection, risk management, and investment success.

Introduction

• Welcome and introduction of Paul David Thompson
• Brief overview of today's topics

Property Types and Locations

• Paul discusses his preferred property types and locations for investments
• Criteria he uses for selecting investment properties

Evaluating Potential Real Estate Investments

• Paul shares his process for evaluating potential investment opportunities
• Importance of due diligence and research in the decision-making process

Balancing Risk and Return

• How Paul balances risk and return when making investment decisions
• Key factors to consider when analyzing potential investments

Risk Management Strategies

• Paul's approach to managing risk and minimizing losses in real estate investing
• Importance of diversification, insurance, and contingency plans

Advice for New Real Estate Investors

• Paul's top tips for individuals just starting out in real estate investing
• The value of networking, education, and mentorship for new investors

Staying Informed and Adapting to Market Changes

• How Paul stays up-to-date on market trends and adjusts his investment strategies accordingly
• Importance of being adaptable and responsive to changes in the market

Success Story: A Winning Investment

• Paul shares a particularly successful real estate investment he made
• The factors that contributed to its success and lessons learned

Be sure to check out our sponsor, The Easy Home Buyer, for a hassle-free home buying experience. Visit their website at www.theeasyhomebuyer.com.

Sponsors:

Join the Easy Home Buyers List today!

Coeur d'Alene REI Summit

Follow WSREIP on TikTok

Show Overview:

In this episode we dive into the world of home staging. Our special guest for today is Tanya, the owner of Brilliant Staging and Design, who has helped numerous homeowners prepare their properties for sale.

Tanya shares her experience in the home staging industry and how she got started in the business. She also talks about the benefits of staging a home for sale and how it can help properties stand out in a crowded market.

Tanya takes us through the process of approaching a new staging project and gives some tips on how to stage a home on a tight budget. She shares a success story from one of her projects, where a property that had been on the market for about 3 years sold within 3 months of being staged and for over asking price.

If you're interested in reaching out to Tanya, she recommends visiting her website, www.brilliantstaginganddesign.com.

Guest: Tanya Nazariya

Tanya is a working mom and entrepreneur with 2 young children (5 & 7). She has been working in the Home Staging/Design industry for almost 7 years. She built the company herself with nothing but her education, passion, and talent to fuel her dream. The company is now a thriving organization that employs over 11 people full time. Brilliant Staging & Design (BSD) is a full-service staging and design company. All their services are in house: they have a large warehouse and own all the staging furniture, décor, trucks, vans and employ movers, stagers, designers etc. Because of her education in business and background in law enforcement- BSD is run like a business, and not like a hobby. They are licensed and insured, with standard operating procedures in place to allow for a smooth, reliable process. Their goal is to make customers happy while providing a positive environment for their employees to grow and flourish, doing what they love. Tanya is passionate about educating the public and helping people see the true potential of their home, as well as how this perceived value can benefit them when it comes to selling or renting

https://brilliantstaging.com/

https://www.instagram.com/brilliantstaging/

https://www.facebook.com/BrilliantStaging/

Disclosure:This interview is for informational purposes only. Nothing contained in this interview should be considered tax, legal, or investment advice. You are responsible for consulting your tax, legal, and investment advisors to determine the best course of action for your personal scenario.