42: Exploring the World of Industrial Real Estate in the greater Seattle area

06/12/24 • 31 min

WSREIP: Your Gateway to Real Estate Success in Washington State

Matt McLennan, an executive vice president and shareholder at Kidder Matthews, specializes in industrial leasing and sales in the South King and Pierce counties. In this episode, he discusses his background in the wine industry and how he transitioned into a career in real estate. He explains the different types of industrial real estate, such as distribution centers, manufacturing facilities, and industrial outside storage. Matt also shares insights into market trends, including the increasing focus on efficiency and sustainability in industrial buildings. He emphasizes the importance of technology, particularly social media, in the real estate industry.

Takeaways

Industrial real estate includes various types of properties, such as distribution centers, manufacturing facilities, and industrial outside storage.
Market trends in industrial real estate include a focus on efficiency and sustainability, as well as the increasing demand for industrial outside storage.
Technology, particularly social media, plays a significant role in the real estate industry, allowing for better marketing and communication with clients.
Investors should consider factors such as the going-in price, cash flow, and potential for future growth when investing in industrial real estate.
The industrial real estate market in the Pacific Northwest is expected to continue to perform well, driven by factors such as e-commerce and the need for greener and more efficient buildings.

Takeaways

Industrial real estate includes various types of properties, such as distribution centers, manufacturing facilities, and industrial outside storage.
Market trends in industrial real estate include a focus on efficiency and sustainability, as well as the increasing demand for industrial outside storage.
Technology, particularly social media, plays a significant role in the real estate industry, allowing for better marketing and communication with clients.
Investors should consider factors such as the going-in price, cash flow, and potential for future growth when investing in industrial real estate.
The industrial real estate market in the Pacific Northwest is expected to continue to perform well, driven by factors such as e-commerce and the need for greener and more efficient buildings.

Previous Episode

41: Accelerating Progress Towards Financial Freedom - A Coaching Session

This episode brought to you be inspectify.com

Summary

Julia Pardo is being coached by Jan Wanot on the Washington State Real Estate Investing Podcast. Julia currently owns a duplex and wants to continue buying cash-flowing properties every two years. Her long-term goal is to provide rental properties for her future children and achieve financial freedom. Jan suggests that Julia consider buying a new property every year instead of every two years to accelerate her progress. They discuss the importance of increasing passive income and the potential for Julia's husband to support her in managing more units. Jan also advises Julia to focus on finding incredible deals and leveraging off-market opportunities. Julia Pardo discusses her real estate investment journey and her plans for future investments. She shares her experience of buying her first duplex and the challenges she faced. Julia expresses her desire to invest in a fourplex and her husband's hesitation. Jan advises Julia to focus on building relationships with wholesalers to find off-market deals. Jan also suggests exploring on-market properties that have been sitting for a while and submitting offers that reflect the market price. Julia realizes that she needs to let go of her fear and take the next step in her investing journey.

Takeaways

Consider buying a new property every year instead of every two years to accelerate progress towards financial freedom Increase passive income to have more resources and support systems in place Focus on finding incredible deals and leveraging off-market opportunities Involve Julia's husband in managing more units to alleviate workload Building relationships with wholesalers can help in finding off-market deals Submitting offers on on-market properties that have been sitting for a while can lead to good deals Letting go of fear and taking the next step is crucial for success in real estate investing

Guest: Jan Wanot Jan is an immigrant that came to this country with nothing, studied hard and finally attained the America dream.... of a steady, corporate job. Or so he thought based on the narrative we’re all fed. Jan eventually wisened up and left the steady paychecks to become a full time real estate investor in 2017. Today he owns and operates a portfolio of 225 cash flowing units around the country plus a variety of active real estate projects in Seattle. He is the founder of the WA Real Estate Investing facebook group where about 19,000+ members in the Pacific Northwest connect and share value every day. In his spare time Jan loves to stay active, travel 3+ months per year, raise hundreds of thousands of dollars for charities he cares about, and teach real estate investing.

http://facebook.com/groups/WAREI

Next Episode

43: Maximizing Cash Flow with Vacant Units

Summary

In this conversation, Jeff Utecht and Julia Pardo discuss investment strategies and the importance of not comparing oneself to others on social media. They emphasize the need to focus on personal goals and preferences when it comes to real estate investing. Jeff shares his experience of buying a fixer-upper property and realizing the potential for forced appreciation. Julia highlights the significance of location and cash flow in her investment decisions. They also discuss the importance of finding properties with vacant units and setting the rent at market value. They talk about the importance of finding creative financing options, such as commercial loans, and the potential benefits of refinancing when interest rates drop. They also emphasize the value of taking calculated risks and making sacrifices in order to build long-term wealth through real estate. The conversation highlights the need to trust the process, gather information, and find the right path for individual success in real estate investing.

Takeaways

Don't compare yourself to others on social media when it comes to real estate investing.
Focus on your own goals and preferences.
Forced appreciation can be a powerful strategy in real estate investing. Buying fixer-upper properties and improving them can lead to significant equity growth.
Location is a critical factor to consider in real estate investing. Look for areas with high demand and potential for appreciation.
Cash flow is an important metric to evaluate when investing in rental properties. Aim for positive cash flow and consider the potential for rent increases over time.
Finding properties with vacant units allows for greater control over setting the rent at market value and maximizing cash flow. Finding creative financing options, such as commercial loans, can be beneficial in real estate investing.
Refinancing when interest rates drop can lead to lower mortgage payments and increased cash flow.
Taking calculated risks and making sacrifices are necessary steps in building long-term wealth through real estate.
Trusting the process, gathering information, and finding the right path are key to success in real estate investing.

WSREIP: Your Gateway to Real Estate Success in Washington State - 42: Exploring the World of Industrial Real Estate in the greater Seattle area

Transcript

00:00:02.990

All right, welcome back to the Washington State Real Estate Investing Podcast. So excited today to be joined with my co -host, Julia. Julia, how are you today?

00:00:13.460

Awesome.

00:00:15.939

This is great. We've got Matt here. Matt specializes in industrial leasing and sales in the South King and Pierce counties. So we're excited to have you here today, Matt, as our guest. Welcome to the show. And let's jump right in, Matt. Te