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Homes and Land in Sunny Sequim, Washington

Homes and Land in Sunny Sequim, Washington

Sequim's No.1 Buyer's Agent Where Knowledge & Experience Count.

(360) 775-5424
Email: ChuckMarunde@gmail.com

iRealty Virtual Brokers, aka Sequim & Port Angeles Real Estate
125 Olympic Ranch Ln, Sequim, WA 98382

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Real Estate Investing in Sequim and Port Angeles

by Chuck Marunde / Tuesday, 15 February 2011 / Published in Real Estate Investing

There’s a huge danger right now in real estate investing.  A gentleman from out of town asked me to take a look at his investment today.  He described it as a five acre parcel, and I subsequently learned there was a house on the property that burned down.  Part was still standing, and he told me that the building department approved the safety of the remaining foundation for rebuilding.  The owner has never seen the property and purchased it as a foreclosure in his real estate investing portfolio.  I assume it was rented, but apparently not insured.  Usually, insurance requires rebuilding, and this owner has decided not to rebuild but to just sell the five acres.

Real Estate Investing – Caution

Real Estate Investing

Real Estate Investing – Profitable or Not

Real estate investing can be an extremely profitable business with real estate prices so low and with such a large inventory of homes no one wants.  If you have cash and buy low and rent the house, you have a piece of real estate that almost certainly will slowly appreciate over the next 5 to 10 years.  Granted, the appreciation is not likely to start for one to three years, but if you invest for the long run, now is the time to buy.  There’s no doubt about that.

Real Estate Investing – Trap for the Unwary

But there is a trap for the unwary cash investor right now.  I drove out and walked this property.  First, the road to this property is about one mile long, and it is a pot hole disaster all the way.  This is enough to turn most people away.  But as the commercial says, “Wait, there’s more.”  There is a nightmare at the beginning of this long driveway, a mobile home that has junk all over the yard, broken appliances, car parts, lawn mowers, and children’s toys that have been outside  apparently for years.  (I was already worried about real estate investing on this road.)

On this little journey, I passed several places with abandoned broken down cars and pickup trucks, and I could see “projects” down the muddy driveways that I presume are homes built by their owners (or renters).  Now I can appreciate anyone who does their own thing and builds their home debt free as they can afford to, but this is not the impression I got.  Have you ever found yourself in a neighborhood way out in the country and felt dirty?  Or unsafe?  (I was even more concerned about real estate investing on this road, but I could not turn around until I get to the end.)

Once I got to the property and looked at the home, or what was left of it, I realized I did not want to list this property.  There’s no way, not a snowball chance that I can sell this place, because the owner is going to want more than it is worth.  There was garbage all over, two abandoned vehicles, and a left over concrete foundation that no one will want.  It will take a lot of money to tear out this concrete, tear down and remove the remaining house and rebuild.  Surrounding this high spot where the house is built are wetlands.  Acres and acres of wetlands.  I could see water everywhere.

What’s the lesson for real estate investing?  First, if you are going to invest in real estate in Sequim and Port Angeles now, and if you cannot be present to examine the property, be absolutely certain you have a professional who will not sell you something like this property.  I doubt I could sell this property for $20,000.  Who would want it?  Second, buy something that will appreciate and is sellable.  Third, if you retain a good Sequim Buyer’s Agent, you can negotiate the best possible price.  Follow these simple rules, and you could earn huge returns on your money over the next 10 years.

Real estate investing is not for the timid.

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About Chuck Marunde

After practicing real estate law for 20 years in Washington, Chuck opened iRealty Virtual Brokers covering the Sequim and the beautiful Olympic Peninsula. Chuck is the author of numerous magazine and Internet articles with a primary focus on real estate. He is also the author of over a dozen books, mostly about Sequim real estate. Chuck is a photographer, videographer, and Registered FAA Drone Pilot. Chuck has combined his love for real estate and technology to create a growing Internet presence in his market, and enjoys building his websites and blogs, including SequimBlog.com and Sequim4Sale.com and LuxuryWaterViewHomes.com. Chuck has degrees in Economics, Law, and Education.

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Chuck E. Marunde, J.D.

Sequim Buyer's Agent
(Atty Ret.)
Founder and Broker of
Sequim & Port Angeles Real Estate dba iRealty Virtual Brokers
125 Olympic Ranch Ln,
Sequim, WA 98382
(360) 775-5424
ChuckMarunde@gmail.com

Blog Articles by Date

From Los Angeles

It's rare, but once in awhile life provides the perfect collaborator for an important endeavor such as buying your new home. For me that person was Chuck Marunde. His two decade background as a Real Estate Attorney, his prolific career as an author of articles and books on Real Estate and his forthright and moral character made choosing Chuck a no-brainer. Chuck is dedicated, thorough, incredible at the negotiating table, knowledgeable about all local laws & regs but, most importantly, Chuck loves what he does. And what he does is find his client the perfect property. Chuck isn't about making the sale, he's about making the sale that is OPTIMUM for his CLIENT and this makes Chuck a rare bird indeed. I love my new home in Sequim and I am indebted to Chuck for making it happen. Kevin E.

From Seattle

I’ve had the pleasure of working with Chuck over the past three years in selling my parent's estate. It was a tough time to sell during the housing recession, but Chuck always kept things on the positive side. With his real estate law background, he offers sound, practical advice. He helps you along with the process using discussions and reason, rather than opinions and speculations. If Chuck doesn’t know the answers, he will get them for you. In several instances, Chuck took the initiative to meet with county officials to get up-to-date facts about zoning and regulations. I was always impressed with his company’s tech savvy communi-cations and internet presence: weekly email updates, blogs, videos, links, Linked-in networking, etc. He is truly pioneering the future of buying & selling real estate. Brian M.

From California

"Andy Romano is a successful motion picture character actor with over 40 years in 'the Biz.' Mr. Romano has a home in beautiful Santa Barbara, California, but he chooses to live most of the time in Sequim, Washington on the Olympic Peninsula in the great Pacific Northwest. Why? In his own words, 'Because it's even more beautiful and surrounded by more beauty in this incredibly peaceful and quiet place. With respect to real estate agents or brokers, well my friend Chuck Marunde, owner of Sequim and Port Angeles Real Estate, is hands down the best there" Andy R.

Intro by Chuck Marunde

From Florida

We do our homework for the task at hand and we look for and expect to enlist partners that do the same. It was our good fortune to select Chuck Marunde of Sequim and Port Angeles Real Estate to represent us as a buyer's broker in our search for a home in the Sequim/Port Angeles area. Chuck's site is all encompassing and super fast compared to many others, he knows the market at every conceivable level and his guidance through the process of selecting and purchasing a home is priceless - above and beyond that of anyone with whom we have ever worked. Add to all this his 20 year background in real estate law and you have discovered a superb asset in the adventure of purchasing a home. Greg and Marilyn

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