Submitted by Dan Martinez, Keller Williams Realty
Investing in real estate can be a great way to enhance your investment and retirement portfolio whether you are looking to generate immediate income or hold properties for cash flow and appreciation . There are several advantages to real estate investing over many other options.
First, your investment is backed by real property which you can see, touch, compare to other properties, and on which you can reasonably make a value assessment. You can borrow to purchase real estate, an option not available for most other investments, like stocks and commodities. There are tax advantages of depreciation and expense deductions from property ownership.
There are many ways to participate in real estate investing including property renovation (flipping), single and multiple family rentals, commercial leasing, land development, wholesaling, and simply lending money for projects (see Private Lending).
As with any investment, education and mentorship are keys to success and reducing the impact of mistakes. Fortunately, Washington State has many resources from which to learn and network while obtaining the knowledge necessary to invest profitably.
Regionally there are two organizations with national affiliations which offer training and resources for both the beginning and experienced investor. Below is a brief description of these organizations from their website home pages.
“REIA, the Real Estate Investors Association of Washington, is a Bellevue Washington real estate investing association who welcomes all levels of real estate investors from “Newbies” to Seasoned Pros along with other real estate professionals and entrepreneurs.
“The Real Estate Association of Puget Sound (REAPS) is one of the premier Professional Associations for the real estate investor in the nation and the largest REIA in Washington State. We motivate and support members and through quality education, discussion, legislative action and networking.”
Both organizations provide excellent educational opportunities utilizing local experts in lending, title and escrow, law, insurance, and contractors. They can also assist in finding, evaluating, and purchasing real estate properties which would be good investment opportunities. Networking opportunities put potential investors in touch directly with experienced investors currently finding, fixing, renting, leasing, and selling both residential and commercial properties.
Both groups sponsor additional education and training which feature nationally known investors who bring their success and specialized knowledge to the NW.
These organizations primarily operate in the Seattle area, but there are local groups where investors meet regularly to share information and resources. One such group is the South Sound Investment Meeting (SSIM) which I formed with Ruth Arkless of Property Ark Homes, to support South Sound investors with education, resources, ideas, and networking opportunities. This group meets once per month to discuss local market conditions, share investment experiences, evaluate investment opportunities and share resources. The meeting is open to all interested investors.
SSREM (South Sound Real Estate Meeting) is another local investing group which has been meeting for several years and currently meets twice a month in Tumwater. Most members are experienced real estate brokers who provide investment opportunities in land development, mobile parks, storage units, multi-family units, commercial buildings, and RV parks in addition to residential housing.
If you would like information on these local meetings, contact Dan Martinez at danmartinez@kw.com.
Whether you want to earn more money, generate cash flow, or have funds to invest, check out these real estate groups to determine if real estate investing is a fit for your wealth creation portfolio.
