Plenty of duplex properties in Snohomish county!

May 31st, 2009 Jacquie Cliff - Real Estate Broker

Time for a market update on duplex properties in Snohomish county.  This month 20 new duplexes came on the market and right now there are over 100 up for sale.  Over 100 duplex properties for sale in Snohomish county alone?  That is a bunch!

As of this morning the average duplex in Snohomish County is priced at $383,457 and has been on the market 177 days.  That is a long time to be sitting!  On the low end are the Everett fixer duplex properties, the cheapest is a meager $185,000.  On the other end of the scare are the overpriced new or nearly new duplex properties topping out at around $730,000.  I see no way those are going to cash flow with any reasonable sort of down payment.

In contrast, the sold listings tell the story of what duplex properties investors are actually buying.  In the last 3 months a mere 12 Snohomish county duplex properties have sold.  When it comes to what they are selling for, the average duplex sale price is $327,879, and none of those were over $480,000. 

Looking at these numbers, I just wonder how many owners are bleeding, sitting on duplex properties that do not have positive cash flow.  Personally if I were wanting to start investing in small multifamily properties, I would make sure that I had my financing in order, a solid down payment, and then start making offers on some of these properties that are close to being priced right, but have been on the market too long. 

If you are ready to buy or sell a duplex in Snohomish or Northern King County give me a call at 425-773-3149.  I would like to sit down and discuss the market conditions and how they relate your needs and situation!

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Yes you can purchase a duplex or other rental property with money you have in your IRA or 410k!

May 18th, 2009 Jacquie Cliff - Real Estate Broker

Not everyone knows this, but you are allowed to use the money that is sitting in your 401k or IRA account to purchase rental real estate property!  Imagine not having to stick your money into the stock market, but to be able to really make your money work for you in the real estate market.

FUND YOUR RETIREMENT BY PURCHASING RENTAL PROPERTIES WITH YOUR IRA FUNDS!

Everyone by now has heard that right now is the best time in the last 20 years to purchase property, but most people are not in a position to take advantage of this opportunity.  If, however, you have pulled all your money out of the stock market (hopefully before it tanked)

There are some rules and this is something you want to get some advice on, but it definitely is a much better way to make use of your retirement funds than gambling it on the stock market.  The big deal is that you can’t co-mingle IRA funds with your regular money.  This means that your property will have to be held by your trustee, and all the rents have to go back into your IRA.  The basic rules look like this:

  • The house or property must remain in the trust until distribution at retirement.
  • It must be treated like any other investment.
  • You cannot manage the property. But your trustee can hire a third party,  a real estate broker, or local manager to collect rents and maintain or improve the property.
  • All rental profits must be returned to the trustee.
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    Despite all this, purchasing rental properties with your IRA money is still a winning bet.  There are some hoops to jump through, but you get to take advantage of the appreciation and cash flow from your new rental property to balloon your retirement account.

    If you are in the Seattle area and would like to sit down and discuss the current market and what opportunities exist for purchasing rental real estate, I am at your disposal.  You can call me directly at 425-773-3149 or send me an email at Jacquie@jacquielciff.com I can help you locate your ideal rental property and even put you in touch with some independent trustee managers to handle your account.

    Jacquie Cliff – The Amazon Negotiator
    Let me lead you through the Real Estate Jungle!

    Real Estate Broker, Loan Officer and Real Estate Investor serving:
    Lynnwood, Bothell, Mill Creek, Seattle, Bellevue, Marysville, Mountlake Terrace, Edmonds, Everett, Snohomish, Kirkland and the surrounding areas!

    Call me with any of your real estate questions at 425-773-3149 or email me at Jacquie@jacquiecliff.com anytime!

    Posted in real estate investing | 1 Comment »