This place called Redington Renton We're going to rent itself. Yeah, okay, okay I didn't eat before. Just the case. Well we got plenty of nuts.

Uh, if you want any. Uh, you know we got cookies. spicy nuts. He really likes the spices I Usually like the salty nuts.

Hey, by the way, this is one of our shadows. If you want to be a Shadow and Shadow me while I explore real estate, check out the link down below. Take advantage of the flash sale we have going for Valentine's Day and you'll enjoy getting in for the best price possible. Why don't you park here and go in the Jet Center look at that it says Boeing Business Jets That's us.

we're Embraer but you know they almost bought Embraer but they missed out so we'll use their facilities. Well, we made it. We are just below Seattle and today we are going to tour Renton Washington This is a town of about 105 000 people. The median income here is about forty one thousand dollars per capita, which is pretty similar to Gilbert Arizona where the per capita income was about 42 000.

Now I'm remember when you hear per cap you think members of household you'd be counting everybody in it, right? So sometimes those numbers seem a little low. But what's fascinating is you have a poverty rate of just five percent. so very very low poverty. and we are going to go look at basically The Burbs of Seattle Let's go.

It's a pleasure to meet you. Absolutely! This is exciting. Are these fill or cut Lots out here? these are normally filled. uh, mudslides that would be under flood insurance.

Do you need flood insurance here? Yeah. Okay, let's go check it out. You have a buddy. Yeah.

so the Cochran group? yeah, who does all the construction out in Microsoft Okay, Microsoft has canceled all of their contracts with them for the next two years. No for building out. Yeah, we're building out offices lines like that. So that tells me they're not encouraging their employees to come back.

So if they are promoting them to hey, work from home maybe once a week if you're within range, right? and Renton's gonna fall right in that spot. Ah, because then people who still have family here or whatever, they're still local. but they're out of the same. How far to say the Amazon HQ from here, down so downtown Seattle Like Union From here, you're going to be wanting to take the 520 or the I-90 bridge across going 405.

Or you could take I-5 It's about the same distance to be honest. But that's the nice thing about here is your choices to those two points. Nice. From here.

in rush hour traffic you're looking at about a 45 minute 45 is not that bad. Oh, is that normal so people are used to that? Then yeah, you were going to show me an overview over here. Pretty much this is the barrier that you want. You don't want to be bumped for investment rentals on that side just because of crime and things like that.

So if you're looking for better schools, better communities, you want to stay above the hill here. Ah, okay, okay and then we also have a five-star hotel. like right up on Lake Washington I See here I See So this is kind of where all the development shopping, retail is going to be right. Got it? Got it? So a little more industrial? Maybe exactly okay.

and then what's where's Bryn Mawr So Bryn Mawr Skyway is just going to be exactly that. Right over there. more apartment buildings here, more apartment, more older homes built in the 60s, 70s and then going up on top of that Hill is going to be pretty much all of it. I would say investment purposes.

You want to stay on this side this side because one, if you go up the hill over here, you're bordering into Issaquah school district. So Issaquah is you know, kind of one of those top highly rated schools and where a lot of tech live as well. So if you can get along that border, sometimes you can get away. Okay, it can be Elementary Middle High All three of them.

Exactly Okay. I Don't imagine out here you'd have a lot of short-term rentals. It's mostly long term if you see rentals here. for the most part.

I mean we're a very liberal State here. and so um, definitely they are cracking down our short-term rentals. They're only going to allow in certain pockets of Seattle where would you usually see those? Not that would we necessarily want to invest in short-term rentals I Always like to know the optionality for both. Yeah.

I'm going to say downtown is almost a no-go now like they're eliminating. Oh wow, Which is why condos are just sitting out there right now. Condos in the downtown area 200 days on? Market Sure, because they propped up with the short-term rental market that falls out. you can't afford it? Yeah and now we're starting to see Rent Shop right now too.

So it's all it's happening. It's all happening. Yeah, yeah, when did you all see sort of your Peak your median price people right in April April Yeah yeah. okay so uh.

rent for like a 700k or in in Renton a three and two. What? What are you usually looking at for a rent? This one in particular we know this one's a little on the higher end. This is 950 2460 square feet, three and two. Uh um, do you see people rent The View Homes more Or is it more buying? Yeah, they'll rent the viewers.

Okay, over in Bellevue Issaquah too. A Lot of them have rentals out there with lot Big Lots in Bellevue Even really, because they're like what one four, median or something like that. uh, home price or something like that. Oh yeah, right now.

okay um and the fact is, if they sell, they really have nowhere to go. so they're either staying or they're moving out of state. Uh, where are people going? Is it the same thing like Vegas Texas or Texas Vegas these are the two hot spots right now and then Florida's kind of there, but not quite got it. How? um, who's coming Then if like, for example, Microsoft's not doing uh, offices right, who's coming? you know I'll be honest with you.

I've been getting referrals from out of state? Really? Okay, it would be probably other people, maybe from either colleges in Washington or something Investors I mean investors are hopping in here those so I would say and it's interesting. Okay, a lot of individual investors or California investors. it's always. but for the most part, retail buyers just on.

They're waiting out to see what happens with the raids. These you said are downtown and these are usually around 500k, right? Those do you see a lot of long-term rentals on those? I mean yeah, because it's the only place you're going to find affordability. and getting access up. North 500 for about a thousand square feet.

five to five fifty is probably going to be the average you find at the bottom of the hill. so it's affordable because it's smaller then correct. Okay, not not necessarily because I mean it might be desirable to be downtown here. or well, no, um, just partially the crime.

crime's been kind of. so it's not desirable downtown. Yeah, not this. Auto downtown.

It's on this side of the hills. Oh, that's okay. Okay, so so this is like the cutoff. Get on the hill.

Okay, Okay, okay. go get on the hill. Yeah, yeah. get on the hill and they don't do short-term down there.

Not that anybody would maybe even want to. Yeah, nobody. Okay, get on the hill. Okay, interesting.

So get on the hill for Renton Uh, for other surrounding suburbs, Is it a relatively a similar thesis? Yeah, like even downtown. Seattle Even downtown. Seattle You want to be east of the I-5 east border. okay, or closer to the water side, which is Far West Edmonds This is a three into 1956 950 000 because of the view.

Probably about 200 000 bucks for the view there. This has been on the market for, you know. I Apologize. The printout might not be telling you that, but 245 days.

Oh, that's interesting. Your client detail doesn't show days on the market. Oh, Status date: July 2022 but it doesn't give you the Dom That's interesting. The MLS took the Dom away because it's too embarrassing.

now. the market has shifted. see in the hot. Market It's always zero days one day.

but that's okay. Look, it's it's cyclical. Market's a cycle. So you got the original 50s cabinets here.

I Actually don't think I've seen the original 50s cabinets with this diagonal to it. These are actually great cabinets. usually. Uh, you can adjust this a little bit.

Uh, but this is incredible. That's that's. actually pretty neat. Okay, so uh I didn't have water through here in a while usually.

I like the other, water is off. Interesting. Okay, so let's see. So yeah.

traditional three and two. I Actually really like the three and two model bedroom Master No, is that a closet? Yeah, okay, yeah. Closet Closet closet. Okay, so too bad here.

So the master to be found? Oh, it might be downstairs. Let's see what we got. So maybe that was a two in one. This was originally a two in one maybe.

And then we've got. oh wow, this this this is much larger. This really changes the whole uh, sort of two in one 1950s although you wouldn't get too many two in ones. And and given that this block is here this brick.

this was probably already built out back then, but this is a really nice amount of space. It's on the expensive side because of the view, so it's not something that would be right for house hack, but it really gives you an idea You've got. This is the perfect size yard. I'm not the biggest fan of the chain link with with sort of the rubber in it or you know plants are growing out there.

Uh, but this is a perfect size yard. It's got plenty of uh of concrete here, minimal maintenance that way. It'd be nice to have the green patch greened up so that way you contrast a little bit from the concrete. but okay.

this feels what is this originally part of the basement? I wonder it heaters on over here? Yeah, see, this feels like it was built out of the basement. uh, just because of obviously what we see here. But what I like about this is I Could see that judging by this. I'm going to go ahead and say that the house has been 80 rewired I Do see the original Romex here as well as an original 240 line here, but that one's cut off.

You have a a little splice here. you could kind of see that tape right there. That's uh, sort of your original Romex but we've got a nice new uh panel over here. You've got the Arc faults.

Those are those with the Uh. Before we look at that, take a look on screen here. We've got the largest flash sale on a percentage basis that we've ever had. 69 for any of the programs.

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Check with your CPA You can also Shadow Me now. I Don't sell Transportation Remember that you're not paying for transportation. so if you want to come Shadow you've got to pay to get yourself out here. Obviously, if I go drive somewhere, you can come with me.

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That's it should be very obvious. Anyway, with these programs though, you get lifetime access to all of the new content that's added to them as well. But hopefully you've appreciated this breakdown and take advantage of that 69 off flash sale through Valentine's I was with the Uh CI Arc fault circuit interrupter test button here. That's a sign that this Uh was probably done post 2008.

I Would probably actually say it was done within the last few years here, but Arc Faults are great. Looks like a lot of the actual systems of the house have have been well improved and this is actually quite impressive. So this is your your grounding ground bonding connector for the gas line and this is a very impressive setup. I mean even how they cable tied some of it.

Uh, they did a very nice job. So I I'm those are the things you want to see. You want to see systems that are installed really well and uh and then ideally cosmetically. It's not great like frankly, the the 50s cabinet upstairs.

but then these systems so great. Kind of like that now. Also interesting that you have an exterior door here, which somewhat implies that at some point this would have gone to the outside and they sort of Cinder blocked it in made a wine cellar or something. Okay, cool.

So so I would obviously check that permits have been pulled for something like this. What are you saying monkey? What do you think about this place? Interesting layout. Um, it is. It's kind of pulled the fireplaces upstairs in the exact same spot.

So these kind of one chimney baby. one chimney, only one place with Santa to come. two fireplaces, one chimney? Yeah yeah. this a lot of this must have been converted from the Uh.

there's no traditional Master A lot of this must have been converted from the Uh from the basement. but okay, and it's been here for a while judging by some of the molding. yeah, this, this was all done later. You can see this was panel drywall did which is neat so it's somewhat I mean it was an original two-on-one and they probably would.

you have seen two in ones originally here in the 50s. Yeah, Okay, so I because I'm guessing this was a two-in-one and then most of that was the basement downstairs with these I mean although the fireplace looks like it could have been there, but the other areas look like they've been added on. so you would have seen two and ones from the 50s. Yeah, Okay, is it common to do basements out here? It's very common.

Very common. Okay, this is a Euro style, but we're gorgeous I love these I think HD Supply sells in them. it's so wet out here. their main panel is actually in the house and then this is just an emergency breaker for the fire department little 200 amp breaker in our area.

it's so dry. you have everything outside which I always think is weird I like the main panels being inside I Don't want somebody coming messing with my Breakers Christian's asking you know how much further for the bottom it? we won't know really until we see the signals. I'll tell you the biggest red flag I just got for. you know what? Are we in Runville or Renton and it could be a red flag that? maybe we aren't a problem yet is you need people moving into the area right? and so the drop-off of buyer referrals referrals I really respect him providing us that Insight I think he's he's very knowledgeable of his market and I'm very, very happy that we're working with him.

He knows what he's doing and that's what you want? You want? The agent who's going to give you the straight scoop because look, that might short term be bad, but in the long term, who am I going to call for the straight scoop when I want to go buying right? This is very, very smart and and uh, there's absolutely a risk of more downside. at minimum: I think we have uh, another six months of downside minimum. The earliest bottom I could see for the real estate market would be June uh, that would be uh, your your first month after the Mayover month May comparisons and maybe then we start seeing month over month positive. If if mortgage rates maybe Trend under six percent right, that would be the soonest I'd say.

And that's also kind of what we've been targeting. I mean quite frankly, since like January 2022 we're like I don't know. Hopefully the summer of 23 we may be able to go shopping. And so then we launched House Hack and we kind of built everything around that thesis.

So so far it's aligning. uh and of course we'll We'll see what happens. This is interesting. These are newer.

so remember, new is nice. New does not mean no Ed New has potential. We just need to spray paint some mold in and then all the other buyers go away. Oh, we're still rolling.

Oh God Do you see a lot of evictions out here? Or uh, no, just because the I mean the politics politics out here. They favor the tenants. So I mean they've been giving them every break that they can. Yeah, that's very familiar.

Um, there's also the possibility that for investors, they're going to start attaching more fees. Uh, for more purchase property owners? Yeah, Ah yeah. so is it like City business licenses that you do for investors out here? then? Exactly Yeah, Yeah, so more City licenses? Yep. Okay, I mean eventually you got to be able to get someone out, right? Yeah, yeah, but it's like six nine months? probably? It's for sure, you know, doing a sheriff's eviction back in the day.

It used to take like three months, but yeah, now it's taking. yeah, six to nine. Yeah, Okay, wow. maybe backlogs too.

We used to be nine or, uh, three months in Cali and yeah, now it's six nine. But let's just play Never to have an eviction. Are you seeing a lot of layoffs right now? Yeah. uh.

Amazon just did a round of I think 10 000 employees or something and that must not have been fulfillment. That was. Yeah, a lot of it was fulfillment and recruiting out here. Oh, we're recruiting out here.

There's centers out here. Microsoft It wasn't a huge amount of layoffs there, but they're not bringing employees back so everybody's gonna be just either moving further out or just staying right in this pocket. Uh, Nintendo's over out. uh towards Fall City Issaquah They had a small amount of layoffs and then, but for the most part, nothing crazy.

nothing out of the ordinary. but I am worried about tech. uh, moving forward. Are you seeing? Uh, a lot of real estate agents unfortunately pull out of the industry right now too.

Yeah yeah. I mean even people at my own company like so they completely removed like some of us were paid on salary. And things like that, salary's gone I'm not 100 Commish right now. Wow, This community will fall under the Issaquah school district so you basically just drive 10 minutes down that road.

Thanks dude! Sorry, 10 minutes down the road. Oh thank you and you're getting the the eight plus star rated schools. I'm clearly like Joe Biden here. I Gotta get my that's what we're doing.

we're modeling Joe Oh no. too small for my giant feet. A whole size six and a half over here. Uh, so sorry.

10 minutes away for the school? Yeah. So 10 minutes from the Issaquah school district? Liberty High School just down the street Maywood Middle School All eight star rating plus nice. Yeah. And then um, and on top of that too, a lot of home homeowners around here in the area do just use addresses that you know.

Oh, they do that here. I Know a lot of people who will commute charity 45 minutes to drop their kids. their kids. Wow.

so it's that desirable? Yeah. So I saw the Island Mercer Island Yeah, is that is? or did you like? Is it is it bad? No. Mercer Island is the nicest? Community maybe Across the Nation I think per capita. Wow.

the wealthiest people live there. Oh my gosh, but what's so your median list over there? It's gonna be ridiculous, huh? 2.5 Yeah okay yeah. Done. done with that.

Like I said look like in that super nice areas around here. like so close. Yeah, this is a 2006 for 7.99 four bed, two and a half bath, 1956 square feet I swear I thought that was the year for a moment this was listed August 11th a day after Lauren's birthday 2006. So I really like new construction? Well it's two thousandths.

plus it's like newer 90s plus newer. If I could pick 80s I'll take 80s. Uh, you know this. Obviously it's like a 400 stove.

Well probably not. With inflation, eight hundred dollars it's doubled. Everything's double. but uh yeah, this this, uh, this is kind of your sparkly white quartz over here.

I Actually like how they cut the edges to give you a little bit more room. in the smaller kitchen, they put poles on older cabinets. These are older cabinets that have been painted and uh, they did a pretty good job. I Don't see any crazy runs, you know they they painted right over their hinges.

Oh here's some running, but you get that all right. Well at least it's not so much on the outside. but uh yeah, this new. One of the other reasons newer is usually nice is because you have good floor plans.

So you've got a little breakfast nook here. Uh, family room dining? It could be here. Uh, just nothing in the breakfast up here. This let's see here.

see normal floor plan. Uh, we were. what was it in Salt Lake that ridiculous Second Story in and just some of the Oddities that you see when you get to newer, you don't have that issue. You have a traditional here that looks like it's probably the master.

You've got traditional four bed and it's nice. you've got plenty of Windows plenty of like I actually really love how they did these windows. Now the reason I say that is because my Builder uh built in 2008 for my home put Windows on almost every wall and I can't I can't use the wall which is annoying I want to hang Nerf guns or something for the kids but I can't because they're Windows everywhere here. They sandwich them into the corner and they give you wall space which is functional.

Very good. I Like this place so obviously the goal would be to get something like this that looks a little more 90s. For example, if the entire property still looked like this where, well, this is, this is actually still pretty nice. Uh, but uh, you know you've got a formica top over here a little.

Wood Lamp If let's say this was delaminated and and the Cabinetry was, you know, water damaged and you've got the linoleum floor over here and you came over here to the bathroom and it was mildewy right? And now all of a sudden you can actually take a 2006 home and get something that is a wedge deal. And now you have 2006 bones that three wire electrical system the better: Plumbing The The: the copper repex water lines, the sewers better. everything's better right? better for earthquakes. If you're in those areas, they're insulated so it costs the tenet less money.

Uh, to live there again. Functional layouts. New is is very very nice. Uh, these are just two more bedrooms over here then we'll go over to the master.

This kind of this is great if and if this this kind of thing is in the perfect. School District Great, Absolutely great. What do we have over here? So again, hello, sorry Mikey this is our room I Keep going right back into the closet again. Uh yeah.

and I mean okay, so functional. Usually while we kick out the door over here I Was thinking no door for the toilet, That's okay. it works. You got the door over there by the shower and uh, you know, a little bit, you know clearly 2006 Original Builder Grade: Master Vanity here.

Nothing wrong with that. Missing a little bit of mold and something like this would work really well, especially if this is in a super desirable School District Uh I Like this. Yeah this. This is very functional.

Two-story two don't no three levels, no never three. Stay away from three stuff like this. If I find them as a fixer, it's so easy because you go in with 15. 20K You're not doing structural, you're not doing Plumbing electrical.

It's just the Cosmetics Yeah, it's like these guys. they painted the cabinets, throwing a new countertop. done, you know. And that's what everybody's looking for right now.

Uh yeah, this is what they want. so we'll give the people what they want. What people do in real estate is is they think they can squeeze everything into a weekend and people have to remember that your brain can only process so much and you're gonna get exhausted. You're going to start playing on your phone more.

You stop paying attention to the area, you stop asking intelligent questions. uh, as Mikey's on his phone and I mean intelligent. Well, I don't have to. Don't get it, it's it's really important for markets that you're considering to be there.

Often meet different agents, get different perspectives, uh, and and really become somebody who's part of that community. So that's what we're doing. We really see House hack over time becoming a national brand. What's beautiful is we we have really a public Archive of not just sort of our opinions and what we're asking, but the information we're receiving which which some people might think is is like anti-competitive you're giving it away people forget there are so many deals to be had out there.

I've never in my life had a shortage of wedge deals in any City I've gone into. If they just don't sit on the market, you just have to be fast and I'm fast. This looks nice by the way. Really nice contrast with the white trim and the new white vinyl windows.

The darker color looks great unlike this one which looks a little older which is perfect and one owner home too. So ooh I know what that means That's great. That's exciting. So um, do you get moss growth on roofs here? That's very common? That's very common.

Yeah and does that take a good chunk of Life off? Or because yeah I mean a 30-year roof out here? closer to 18 20 years? Okay, because you're I mean there's with the asphalt shingle, there's no really cleaning it. you go wash it away. I mean you can you acid bath it? maybe? I've never heard of people acid bathing out here. Mostly it's just maintenance just getting a guy just blow everything off.

Oh, just blowing it off? Yeah, okay I mean everything out here is pine needles for the most part. I See Okay, um but as far as moss growth like yeah, when we get heavy rain Seasons it happens and it just dies off in the summer? Maybe? Oh Okay, okay. and then you can blow it off. There are people I I Don't know what kind of solution it was, but it's kind of like a white powder that people come and put on the roof to kill this stuff.

Okay, yeah, any kind of growth and Roots traps moisture and then you get mold and and you really just Decay the wood underneath the shingle. It's got a tombstone over here that's awesome. This is great. Uh and then.

So this is a three bed, two and a quarter bath 24 32 square feet. Been on the market since September 8th. it was listed for 860 000. now only 700 000.

they missed the 69. damn oh it's perfect I Love it already. uh I don't like split level I will say uh but we'll let's start with upstairs. so you've got the older carpet.

It smells like insecticide the second I get into it so that's a great thing. Um, the more you can turn off first-time home buyers, the better. Thomas You were saying to trition that there are a lot of tech guys who want to throw money at real estate, but they they're not into work like doing the fixer-uppers and stuff like that. So the gentleman who's buying my uh auction property yeah he's a Microsoft guy and he's just like hey, like I want to like start investing but like I don't really know what to do and so I'm help setting up with contractors.

Things like that, he's actually getting hard money loan through our private lender. Wow so you got the acoustic ceiling built in 78 typically. uh uh, you could have asbestos. Uh, it's still in the asbestos era.

78 was really the last year but you could still get asbestos going into 79 80s homes because people would use stock supplies they still had. They just really stopped selling. uh the the product. Then you know you've got the Formica tops here.

you've got the older Cabinetry you've got the classic, uh diffusers over here. uh clearly 70s when you see this kind of uh, fireplace. The stone fireplace is super common. obviously.

uh, look the split level. It'd be tough for me to get convinced on a split level, but condition wise this is perfect. Uh, it is though. I mean the more I look at it, the more it's it's not.

Sometimes you get like a tri-level split. this is really just a split in the mid by the front door and then you only have half a staircase for up and down. so I could actually be convinced by that. usually.

I wouldn't be all the original Cabinetry Doors This is a single owner property we found out. uh Thomas let us know but this is your classic. Reef Floor repaint, new electrical switches Outlets You've got to make sure you you prime these really well. Hollow Core doors here Prime This paint it scrape the ceiling.

This is one two I think we said this was a three. Oh, this is a three bed. Okay, so three bed and then what is good? This is your master here. We've actually got.

oh these are like the worst. So these are the old, uh panel kind of showers here and they always mildewy on the inside, which is actually great, right? You can glaze these, but I you often end up replacing these and going for fiberglass. The lifespan isn't so great on these and oftentimes you go underneath them. If there's an underneath and you start already seeing, uh, leaking.

this is, uh, this actually looks like a decent deck. It doesn't look that old. I Think this is, um, sort of a man-made wood. like a vinyl right? Which is what you want in this kind of weather because you're going to have a rot like crazy out here.

You've got your gutters here. You do have obviously your typical Lumber and framing, but there's not actually a lot of rot here. This is. it looks like actually a pretty decently maintained home.

and they actually painted the lumber out here with what looks like an eggshell. Or it doesn't quite like semi-gloss but eggshell is actually what you're supposed to. Well, eggshell or something else is generally where you're supposed to paint. Lumber Most people go flat though, because it's cheaper.

now. You could do a lot by just trimming a little bit back here. obviously keep the trees they look amazing, but you could do a lot by trimming back here. I Love uh, the feel of sort of the moss growth.

I mean I could really see this as like living here like a little Zen Garden or something like that. but I don't get personally attached to my property so I wouldn't like be installing Zen Gardens I have something to show you Oh I would love to see it I Don't know if you've already gotten this, but let's see it. It seems exciting. Oh, here we go.

2500 The ugly. Ah I missed it I missed it. It was the curtain and you know what it's Look what it's covering up. Yep, what's it covering up? Brand spanking new window.

brand new vinyl window here. They probably pull permits for all this stuff too. Look, this is like the definition of wedge. Old cosmetics, new bones.

Like I said outside very little rot, well maintained. The deck looks like it's upgraded and newer. Wood Copper plumbing right there. although in the 70s they were probably built with copper plumbing.

Actually, it's a nice opportunity to open up this wall a little bit here assuming it's not load pairing. Uh, that's what it means did you? What did you say this would be is going for fixed up? Right now. it's fixed up right now. You can get a mill easy for it.

It's crazy. Really, that's incredible. Uh and uh. that's not made pricing.

That's like now pricing. Yeah, and that's just because they got 20 21 new construction cops just literally down the road over there. Wow. That sold for about 1.35 130 for new construction.

Okay, so one here remodeled the older part of the neighborhood, but maybe a little larger lot or RV parking or whatever. Maybe you're not getting that there so you're sitting in the middle, you're thinking, yeah, wow, that's awesome. Oh yeah, this would all be one consistent flooring because look at that. you got three floors right here together, right? Just luxury vinyl plank? You know something? Typical.

Yeah. So one of the downsides though of the the older floor plans again is that it's tight tight. But this looks like laundry over here. Yep, laundry again.

New windows surrounded by old. A lot. Yeah, this is good. This is good.

Oh my gosh, there's a whole, could you miss a lot larger. Did you make this? two bedrooms at, uh, literally make it an extra hallway? Two bedrooms? Yeah, right. Yeah, yeah, you could. These are plenty of plenty big rooms to make two more bedrooms here? Absolutely yeah.

And then you take it from a three bedroom to a five bedroom. Yeah, you don't need two massive family rooms. If somebody wanted it as a playroom, then you have two rooms next to each other that are playrooms. It's not a bad idea.

Yeah, you have uh, vents for both of them. You've got electricity. You've got windows for each of them. You know, right? right? Yes, Right here.

Right over here. Yeah, exactly yeah. This is great. I Mean this is.

this is like walking into what a wedge deal would be. I Uh, offer it to this house listed at 700. What offer would you put in? I mean I would probably start with like a verbal at 6 25 cash, close in three days or whatever, right? You know they might tell you go pound sand or they might counter against 650. You know I Think this is the kind of person that uh is selling.

That is exactly what we would want to buy from. but it's it's Look, it's not selling right now because even at 700, it's overpriced. Well, they dropped it from eight. Yeah, well.

how long ago? 8 20. I Can't remember. Yeah, but look, if they dropped it from eight any more than three days ago and they still don't have any offers, it's not a seven either. So something like this this size, even if you made it that five bedroom.

like you said, it'd be interesting. What the what you could actually get in rent out here. You definitely run some numbers, but yeah, you'd probably still be at I don't I don't think you can get more than four, four, five, four or something like that. So ideally if you can get it like six, six hundred even.

that's nice. You know I know a lot of people in the Midwest they're like oh, one to one Kevin one to one. but like, remember, we want wedges. That's where the big money is coming from for house hike is the wedges? Uh, not this.

like 10 cash on cash return Although Our actual returns could be in that neighborhood or even substantially more with uh with with the wedge process. Because you know we were talking about this the other day. How the rates of Returns on a wedge deal? year one could be. You know, 150.

Year two: you got on like 50, 30, 20. You know, you kind of. You scale down because you're spread. You're buttering out the wedge over multiple years.

Basically, if you want to learn how to become a millionaire in real estate, make sure to check out the zero to Millionaire Real Estate Investing course. Link down below and use that coupon code before my birthday because the price will change. Good job man! thank you for reminding me McKay is actually one of our course members. You've been a course member for a long time.

I Got this job that's crazy. That's wild. I Took the YouTube course. Oh wow, that's awesome.

Yup, is it good. Loved it. I'm here because of it. You tell me am I good.

You're great man. All right, let's go. So the rents definitely fell so that that hits the numbers a bit and then that also makes me think you still have some time to go because 26 if you can't break three on a 700k or it's a little weak. And and one of the problems you find is when you start getting larger, sometimes you start getting that squeeze 2400 square feet maybe? Oh yeah, so it's been sitting for another month and a half already.

Yeah, yeah, thank you for that. Yeah yeah. I think exactly so so 700 is even way too high. and and with the rents you wouldn't even go 625, you'd go I Mean at that rent, you've got to be, you know, in the fives? Um, yeah.

And then even then you want to evaluate how much of a wedge am I getting here. Uh, cosmetically perfect numbers TBD But then again, we're not ready to buy. See what needs to happen is we need to get to where we think the market is at that bottom because then we can actually sit down and say okay, this is what rents are. Now the last thing you want to do is buy Thinking You've got, you know, a nice big wedge and you're going to rent it for something and you actually look down and you're like crap.

that's a lot smaller than I thought. A little tough to tell right now, but very, very rural out here. Rural is nice for for a lot of people. they like that.

but for House Hack, it's a lot of Maintenance You're dealing with a lot of wildlife you're dealing with larger. Lots We don't want to deal with larger Lots Uh, it's a lot of burden to put that Landscaping on the tenants. It's harder to rent when you're in a rural area because you have less demand for these homes. Again, this is why the best home is a tract home.

We should really narrow start narrowing them down to to track McKay Was talking about the agent's brokerage. a little bit about how this is, uh, a sort of almost like an eye buyer brokerage. They remind me a lot of the Redfin agent mod model where they pay their agents potentially and I don't know this. I'm speculating a little bit of a lower commission, but they do all the advertising for the agent.

so this is why the agents get a lot of the volume. and their website. Sunday.com S-u-n-d-a-e.com actually looks a lot like what potentially the future of house hacks website would look like. Where we could just directly have a website where people can sell a home directly at a house like if they wanted to, we could in theory advertise that way if we needed to, or if somebody from YouTube wanted to submit a deal for us off Market or whatever.

Now potentially we can. We can be our own source of deals as well as using agents. But yeah, the the Sunday.com website sell your dated house as is for the best price. I mean basically they're just looking specifically for the kinds of deals that we are looking for and that's the kind of relationship that we want to build so we would want to use them as well as do things like that on our own.

So this is great if your clientele here is Tech and Tech is getting laid off and there's absolutely no reason to live here for the weather and your job is gone and Microsoft is canceling contracts with office Builders first of all, short steel case. Second of all, it's a problem. I mean these, this looks like like an 86 neighborhood. Um, it could be 90s.

Oh it looks so cute with like the steam coming out of that. that's yeah. I mean that's nice. I I'd be this could be newer than I think they are.

They've already got new dual pane windows, but those are retrofits. They've got the older aluminum windows. This has to be an 80s neighborhood. Uh, that's a newer garage that's actually a nice garage door.

and I love the lights they put up. Which house are we looking at? Where's the house? Oh we are looking at the one with the nice garage doors. Oh great. the price reduced signs.

That's a throwback to away. When was this bill? So this one's built in 1984. Yes, Got it. Uh 57 days on market for solicit in November originally at 7 20 down to 695 for 6.96 right? Oh yeah.

Okay, all right. perfect. So the nice thing about this location is you have a major hospital just down that road where we're just at. Ah Valley Medical So it's one of the biggest hospitals here on the east side, so you're away from that Tech demand exactly I'm good.

Yeah, it's just old. It could be the Christmas Tree Pie I Don't know. Here's your kitchen. Let's see.

we've got. See, these are actually newer cabinets. and initially when I was turning the corner, they looked, uh, potentially like 80s darker. but these are newer.

Uh, this is. these are actually nice. These are like your espresso colored cabinets. Uh, not the biggest fan of the lining on the inside, but that's okay.

uh, nice cooktop. Yeah, okay. I mean this. Um, it says some new elements, right? They've done some upgrading to this.

it's still mostly 80s. Uh, they've done some Cabinetry work. but uh yeah. definitely a little bit more on the dated side.

and I love it. when carpet starts losing its stretch, that's just a perfect sort of wedge deal. uh sign I it's it's not damaged enough to really be a heavy wedge, but you do see most of the windows have been replaced, at least downstairs. you um in the older doors.

The older paint I mean the classic stuff that we look at what I like though is understanding this neighborhood because apparently it's close to a hospital so you've got a different kind of uh, buyer or tenant than you would somebody who's maybe commuting from Seattle although I wonder probably about what? 45 minutes from Seattle Yeah, okay so about the same if we can Market through YouTube Exactly what we're looking for. What markets we're looking in and uh, you know people maybe watch the channel because they've fallen in love with all the value we're providing on all these trips. Well now hopefully people are watching our channel that are in areas like Gilbert Arizona Or let's say here Renton uh Washington or wherever we want to buy and people are watching going. Oh, this is interesting going to all these different cities.

We're actually building a network of people who are interested in in real estate and they might end up knowing people who want to self extrappers and they might refer those deals to us. and then so what we can do is say hey, if you refer a deal directly to us at Houseac.com we'll give you some kind of finders fee right? So we can basically pay anybody we want a finder's fee we have to make sure we're compliant with like state laws everywhere, but generally that's not a problem and uh, and then we can find wedge deals directly rather than going through that auction process. That's the downside as we were just talking about about Sunday is you're now one person on a list of maybe a hundred other investors. So what they're doing is they're purposely listing them low to get a ton of offers.

Which is fine. You can still get a wedge deal in that model, but the seven day minimum weight sucks. like I Like it when properties come to me and and I get the calls because I've got the relationship with the local agents yo Kevin this deal is coming up. We're going to list it on Thursday We're letting you know about it three days in advance.

Can you be here to see it? Wednesday Yep. Perfect. We'll We'll send somebody from our local team more will not report. It is really what we'll do in the future is we're not going to hop on a jet every single property, right? Uh, it won't make sense unless me Kevin is paying for it like me.

Kevin is paying for a lot of the Jet right now, right? That's important, you know? I don't also don't want people thinking like oh my gosh, this entire jet househack is paying for. This is not even the case at all. Houseac hasn't been built a dime for the jet in the future. we will.

once we pick our areas, it won't be an issue to just be there a week later and bundle all of our purchases and go look at 10 properties in a day And they're all properties we have offers on. or that we're under contract on. best case scenario, and we give them that rubber stamp which we should know the area. so we we should never have to go to a property to sign off on an offer or or really even close the deal we will.

Uh, but uh, we shouldn't have to because we should become so expert in the neighborhood. We already know everything about the neighborhood. Oh my. God I Just fell in the mud.

Well this is the last stop. This has been on the market for 98 cumulative days. Original is priced 720. now listed for 680 000 four bedroom, two and a quarter bath in Benson Hill area of Renton Benson Hill Yeah Valley Medical Literally three minutes down the road over there you got Ikea five minutes down at the bottom of the hill.

I'm in I Love Ikea uh I Also love that that person spent all that money on a metal roof. Uh, that's a sign. They want to stay here. That's a great sign because that is a rip-off That's a good sign.

This is gorgeous, although mismatched. color that doesn't work and the edge is involved. That's okay, just kind of quit during the project. It does feel that way.

Different luxury. vinyl, planks and hamster smells. Huh? Okay, Oh, like you just put down like the new stuff for the hamsters. You're right.

Yeah, the bedding or whatever. and then there's that flooring it. they ran out of flooring. maybe? okay, um, interesting.

They put the white baseboard next to the cabinets, which is a problem because they probably went either primed baseboards are not painted or Ultra Pure White next to the white cabinets which are actually an off-white and now they make the cabinets look yellowed, especially with these yellowed lights. So I wouldn't have gone with that baseboard move. but they did that over here as well. This actually could be Ikea feels like Ikea it's not.

Ikea it's um, pretty close. Oh no, these are the Lowe's ones. I'm pretty sure I'm gonna figure out how to put it back. now.

the Ikea ones are easier to put back. Ah oh did it. No. Why? why why do we do this to me? You know they actually have outlet covers that would cover the actual Outlet too.

and a new face plate that's like 4.99 on Amazon and then it would make the whole thing look like. Not a big fan of the multi-colored flooring. Nice backyard. It's got that family friendly backyards back here.

Oh I Love the maple. Too big though. probably too big for houses. Way too much here.

too much yard, too much house. Smaller houses are better for house hacks. Smaller, newer. All right.

let's get some coffee. let's take a quick look. This is like 99 cent flooring dude. The amount of flooring they chose I Swear they took remnants of flooring because it's like every room is a different floor.

It's a terrible idea. What's this one heck of a It really looks like somebody stopped after this project. Hey honey, can you go paint the medicine cabinet today? Sure. I'll bring the rag.

It's sad because uh, you know this is like an insult to real estate. You know these things are like 12 bucks and they left the rusty one. I Mean at least it's not wobbly, but yeah, it's the cheapest tile you can get. Um did okay I mean they did.

They didn't wash the grout off. It doesn't surprise me. Let's go get coffee. What? what do you think for rents out here? ballpark? If you had to say, you'll get three thousand? Yeah, yeah.

okay. thank you so much for showing us these properties out here in Renton Washington Can you shout yourself out your company out, tell us about yourself, anything you want to pick Yeah, my name is Thomas and I work with Sunday Real Estate. We're the off-market property platform. We work with sellers selling their properties as is getting them cash advances and getting them into good situations.

and we represent a group of investors that buy homes with heart. So definitely call me 206-466-3041 and love to get you guys set up and on to your next stage in life. How's the area around here? We're new from here. Where are you from? California Yeah, What? California Ventura under Santa Barbara I don't know San Jose Why'd you move here? Oh New Orleans The best? Yes, Why don't you go back? Where's my business here? Because the business here.

If you could move it over there, would you do it? Yeah yeah. well. a couple years. oh oh, you're already planning to move.

Wow. everyone's leaving everyone. even the Espresso shop is leaving. I'm really getting that Vibe out here that you've got.

You know, a lot of kind of farmland and then you got infill of like 70s and 80s neighborhoods. Not too much new construction out here which is fine. we like 70s and 80s. You know it's all right.

You know, like Ventura is not all brand new either. but I don't know how I'm feeling on the rankings versus like Gilbert Arizona boy that was. that's nice. And I think the biggest thing that's killing me is uh, everyone's eating.

it's concerning I hear that? I'm going to keep hearing it. Oh the toothpick dude, that's so bad. What do you think about this? this place? this city? I Like it. It's very very rainy.

Would you move here? Depressing me personally. It's too depressing. The rain all year round. I agree or anything.

No no black, large black? Yeah. Me too. Yeah. Arizona Rock Bottom I don't like Seattle you don't like it I don't like it.

Does people want to leave cold too much land? Is he okay? But everything here very high for low class people here very helpful. We're living here and then Tech is doing layoffs I hear yeah Easy Living how Cheapo flights Very easy to believe You know? Yeah but here. okay low cost remote tape. That's why you see homeless people everywhere here.

Problem is tenants if everybody wants to leave and you're constantly dealing with people gtf owing because it's like you got High Cost of Living and this weather, why would you live here I I Don't get it. It makes sense if it's a job like Oh Come be the CEO of Google you just have to work in Seattle I'm like oh okay I mean I I like YouTube but but like sure right? Yeah, but like otherwise why this is one of the tech centers like I think when I think Tech in in the US I think San Francisco and like Silicon Valley I think Austin I think Seattle Yeah but yeah, that's the thing. Also see now they're starting to move South you get that Tech that's like okay people want maybe some sun right? So so how long is Tech going to be Central To the the sort of liberal West Coast You know what happens if Microsoft's like let's pick a cheaper place for everybody to move to. You know we can do so much remote now.

Great Exploration with Thomas for Renton I Have to say I'm not convinced on the Seattle area yet. I'm not gonna rule it out. maybe it's worth checking out some other areas. I Did like some of the properties we looked at, uh, definitely looked like we were looking at potentially an overpriced wedge.

uh, which is okay, you can negotiate down. Some of the newer construction was nice, especially in that Special School District but I don't even know if I could track in on employees if this is what the weather is like 90 of the year, that's what folks are telling me I gotta be where the sun is and if I lose any tenants because of the weather I'd rather not I'd rather be investing somewhere people want to move to. not from. We got a lot of insights here that a lot of people unfortunately are moving out and excited to get out.

Not many people coming in. Real estate agent isn't getting a lot of referrals of buyers coming in. more referrals, people going out. It's a red flag so that's a rat.

Thanks for watching.