Does Carleton Sheets work in Seattle, Washington - Posted by Ben Buckley


#1

Posted by Joe Kaiser on November 25, 1998 at 14:33:52:

Didn’t you notice the yacht in the infomercial is moored on Lake Washington? I sure did.

Joe Kaiser


#2

Does Carleton Sheets work in Seattle, Washington - Posted by Ben Buckley

Posted by Ben Buckley on November 25, 1998 at 03:19:43:

My name is Ben and I recently bought the course and have some questions and would like to make a contact with someone in Seattle who could help me get on my way. I’m 20 years old and am very excited about this course so I would really appreciate any response. Thanks, Ben


#3

Re: Does Carleton Sheets work in Seattle - Posted by Russ Sims

Posted by Russ Sims on November 27, 1998 at 14:16:07:

Hi Ben: There’s no reason I can think of that the Sheet’s pricipals won’t work in Seattle. I just completed the course. I live in Tacoma and can tell that there are many good possibilities here. But our houses here are simply cheaper than in Seattle. In a high priced housing market it can be tough to get the rent amounts you need to cover the mortgage and expenses on your property. Here’s a couple of ideas that have helped me analyize my local market and determine the feasibility of pracitcing Sheet’s techniques here. I did an informal (very unscientific) survey of our rental market by buying the Sunday paper and making a list of rentals. I listed the rental amounts in 2 columns of all 3 and 4 bedroom homes. Then I simply averaged the rents for both home sizes and came up with a figure. Let’s take Seattle. Suppose that the average rental for a 3 BR home is $1000. The Sheet’s course tells you that you must realistically expect to get 1 to 1.5 % of the home’s selling price in monthly rent to support a no money down deal. This means that a $1000 rent will support at the maximum a $100,000 home. Are there many $100,000 homes in Seattle? If not, you may have to look to outlying areas or in low end neighborhoods (which Sheet’s advises against). To buy in a good neighborhood, you may have to rely on finding very distressed properties with very motivated sellers.
There are obviously many CS practitioners in Seattle as evidenced by the testimonials on the Sheet’s commercials, so the deals have to be out there! Sure would like to here from some of them if they are reading this post. I am thinking about trying the RE investment club that this site lists in Seattle. They meet on Mercer Island. This may be a great source of encouragment and information for you. Well, hope I’ve helped if even a little…Let me know how things go.
Good Luck, Russ Sims
PS. I think the up-side to investing in Seattle is that the rental market is fabulous! Too many people seeking too few units which probably means low turnover and rapidly escalating rents!