- Tell us a little about yourself and what you’re up to professionally.
I’m originally from the Bay Area and graduated from Gonzaga University with a degree in business in 2014. Initially, out of college, I started my career in public relation and marketing, and then I made a shift to investments and working with my family managing their real estate portfolio in early 2016. After some consideration, I decided to get licensed to gain experience on the buy/sell side of real estate. Prior to getting licensed, I had been involved in several transactions on the buy side and was very fascinated. I love that I now get to work with clients and help them pursue their goals and dreams.
- Why do you love living in West Seattle?
West Seattle has been home since I moved to the west side of the state, and I LOVE West Seattle because:
1) People stop on the streets and have conversations with each other.
2) Businesses are locally owned and operated.
3) West Seattle is trendy and has loads of cool restaurants, bars and shops to explore.
4) THE VIEWS. You really cannot beat the panoramic views on Beach Drive.
5) There is so much opportunity to explore nature, whether that’s on Alki Beach, Lincoln Park or the trails in Camp Long.
- Why did you choose to buy a home that could also be a rental?
For me, this scenario made a lot of financial sense. To paint the picture, I own a single family home with an ADU (accessory dwelling unit) down below. I live in the ADU downstairs and rent out the home above – it’s 4 bedrooms, 1.5 baths, and about 1800 sf. My unit is a spacious 1 bedroom. The income I receive from renting out the home covers the majority of the expenses, and what I contribute goes into a reserve account. The home has a ton of potential – it’s vintage with character and is in an unbeatable location – and could be used for short and long-term rental.
- What are your top pieces of advice for somebody looking for an investment property?
My advice would be to do your homework and make sure to look into rental comparable, be bold but not careless, and make sure to tap into your agent for a professional opinion and additional resources.
- How have you seen owning an investment property change someone’s life?
Investing in real estate is a great option because your property appreciates while you own it, and you’re collecting income in the interim. Through financing, you can leverage your money and maximize returns. And in this industry specifically, the return on investment is proven to be immense.
As an example, I have family who purchased a condo in Hawaii – the condo allows them to escape to Hawaii as they please, but also collect income from short term rental while they are not using it. It allows for an extra paycheck, and when/if they choose to sell, their asset has appreciated and the return can be great.
- What are some of the challenges people find when looking for an investment property?
I think the initial jump into investments can be scary for some. I’ve heard a lot of stories of first time buyers considering buying a smaller multifamily property (triplex for example) and then backing out. You want to use your best judgement, but also do your homework. For longer term rentals, it’s important to keep in mind what matters to renters: location, accessibility, bed/bath count, etc. An investor also needs to think about whether or not they are willing to put in some work to bring the property up. If you’re willing to put in the work, the value of the property increases, and the income potential increases too.
- What area do you see as the next “hot spot” for investors?
I think South Seattle is an up and coming, specifically White Center and South Park. The properties in these areas are typically more affordable now, but I anticipate that the areas will continue to be developed and become more and more desirable in the coming years.
- What is your long term plan in regards to real estate investments?
To be completely honest, I haven’t totally mapped out my plan for myself. I imagine that I’ll keep the West Seattle Tudor in my portfolio and continue renting it even after (slash if) I move on myself. I love the idea of Airbnb and short-term vacation rental and at some point would love to explore that avenue. I’m programmed to think in terms of investments, so I am sure I will always dabble in real estate investment.
- How can people take the first step toward becoming a landlord?
My dad is who taught me most of what I know about investment, and he really does have a cool story. He started with a small duplex, and continued to leverage his funds and take risks until he was able to purchase larger and larger properties, ultimately building a portfolio. I’d imagine his advice to those considering investing would be something along the lines of “take risks and trust your gut.” I think the first step is to take your interest and start exploring options and doing research, and then be willing to take risks while ultimately trusting your gut instincts.
It can even be valuable when shopping first homes to consider how that home can turn into an investment down the line. Say you’re shopping for your first condo, it could be helpful to shop condos without rental caps that way when you grow out of your unit, you have the option to keep your condo as a rental investment if you choose.
- How can you help someone thinking about investing in real estate? First steps?
A great place to start is to reach out to our team expressing interest. I love working with folks and talking about their goals and ideas, and from there, I can provide thoughts and resources to help bring that to life. We also host an “Investors Class” – hosted by a lender who helps explain how the lending process can be different for investors.
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