Seattle, University Of Washington, Tallaght discussed on BiggerPockets
We're doing a sixty rooming house in Capitol Hill Right now we're taking our building put sixty doors in a very complex project and a lot of duplexes in four places to with them and we like things with extra zony. They have L. Zoned in they can be development down the road rooming house thing just blows my mind sixty sixty like rooms for students the crazy yeah you know in in Seattle affordability such an issue in so we bought this historical building in in capital. It's a it's at our house in one of the things about Seattle is they want to preserve these kind of structures and it was kind of like this head is more place for vagrants really but they call it when we went to them with this proposal where a little worried about it because Seattle does like to I mean they'll stop on some development because they want to keep the core neighbor together yeah but the fact that we're rolling out affordable housing work with us so easy because there's so much demand for it they worked with us on all different angles in so what people need is a place to live and they want a nice place in so these rooming houses we do we actually start all the way down to the studs. Make him really nice all nice kitchens all nice forests all doors. I can live there for nine. Hundred Ninety nine bucks a month in so with Seattle and kind of the hipster movement shared living you know there's we work and Co living and <hes> they they like it and so what it really does though it takes a normal deal Jio and you can hyper accelerate the return by right plan together and so that's why we came up these rooming houses. This is fascinating to me so your is there like a common area. It's almost like a drain dorm but it's a but it's not like a dorm. Thank you like our like kind of the feel of has yes so this one's a little bit more conflicts like I'm doing another one too next University of Washington where I'm taking a triplex this zone that's five thousand but grandfathered in in I'm turning that into a ear nose a duplex. Excuse me attorney in sixteen rooms rather than a duplex and so with these rooming houses what we do is we do like a really big kitchen chef style kitchen with a big living area flex area and so <hes> each floor usually has his own little either a the main floor have a huge kitchen and then each four has a little sub kitchen with a washer dryer area and then what typically will do is like in maybe one third the units washy plum in little small wet ours to forum in those Ios might go for like eleven hundred a month instead of ninety nine to give them a little extra space or the but people really most of what we get. Is You know a lot of them are actually to be honest with like their foreign students coming over the gotta mind their own business. They want a nice clean place to live and <hes> you know we that's why we do until like high end new construction quality so they get a really good place from place. Live in people kinda mind their own business if they have their own space you know they're go but we do try to get in. You know if we have sixteen eighteen rooms. Were trying to get in like ten batters. Bathrooms are big deal so you don't usually like two rooms per bathroom. Two to three rooms in some will have their own in suite bathrooms that will charge a little bit more for okay that again this is this is blows my mind. I love the idea so does the government because it is low income housing and they need to how the students up so. They're okay with like they. They work with you on this. They work with zoning on this. Is that how that like. How do you get through that surly neighborhoods and all that tallaght zony works in Seattle is you can put in if you S._F.?.