Cole Grode’s journey into the world of real estate investing began with a twist of fate. Fresh out of college and in need of a job, he found himself working in the midst of the subprime lending era. Little did he know that this unexpected experience would ignite a passion that would shape his career for the next 15 years. So, how did this twist of fate lead Cole to become a successful branch manager overseeing three locations? Stay tuned as we unravel the story of Cole’s remarkable rise in the real estate market of Wenatchee.

As rates have stayed in this higher environment, it has made it more of what I would consider a buyer’s market. So it’s a really good time to jump in, even though rates may be a little bit scary. – Cole Crode

My special guest is Cole Grode

Meet Cole Grode, a seasoned real estate professional who has been making waves in the industry for the past 15 years. Starting out as a broke college graduate, Cole found himself in the world of subprime lending and quickly rose through the ranks. Now serving as a branch manager for Evergreen Home Loans, Cole’s expertise and success have solidified his position as a top 20 producer for the company. Located in the heart of Wenatchee, Cole has a deep understanding of the local real estate market and knows the ins and outs of navigating the unique dynamics of the area. With a focus on helping investors maximize their returns, Cole is a go-to resource for anyone looking to explore the exciting opportunities in the Wenatchee real estate market. Whether it’s short-term rentals or long-term investments, Cole’s strategic approach and extensive knowledge make him the ideal partner for investors seeking to make informed and lucrative decisions.

This is Cole Grode’s story:

Cole Grode’s journey into the world of real estate investing began unexpectedly. Fresh out of college and in need of a job, he found himself working at Wells Fargo Financial during the peak of the subprime lending era in 2009. Little did he know that this experience would ignite a passion for real estate that would shape his career for the next 15 years. Starting out in the subprime lending market, Cole has come a long way. Today, he is a branch manager for Evergreen Home Loans, a direct lender, overseeing three different locations. With his expertise and dedication, he has consistently ranked among the top 20 producers within the company. Living in Wenatchee, Cole recognizes the unique appeal of the area. While it may not experience the extreme highs and lows of metropolitan markets, the COVID-19 pandemic has turned Wenatchee, Chelan, and Leavenworth into highly sought-after destinations for families looking to relocate. This shift in demographics has opened up new opportunities for real estate investors, particularly in the short-term and long-term rental sectors. In the Wenatchee market, like many others, supply and demand play a significant role, along with mortgage rates. However, what sets Wenatchee apart is that rental prices have been exceeding the percentage increases typically seen in mortgage rates. This presents an advantage for investors looking to generate cash flow. Whether investors are interested in short-term or long-term rentals, Wenatchee offers a plethora of attractive locations. Cole has been

In this episode, you will be able to:

• Discover the untapped potential of the Wenatchee real estate market and maximize your investment opportunities.
• Explore a variety of loan options designed specifically for real estate investors in Wenatchee, and take advantage of flexible financing solutions.
• Navigate the challenges of supply and demand in the Wenatchee real estate market with expert insights and strategies to stay ahead of the game.
• Uncover the desirable amenities that make Wenatchee an attractive location for real estate investment and boost your property’s value.
• Learn the secrets to achieving long-term success in real estate investment in Wenatchee and secure a profitable future.

Introduction to the Real Estate Market in Greater Wenatchee:
The real estate market in the Greater Wenatchee area could be your hidden gem in the Washington State. Its growing appeal as a family-friendly place to settle down, to purchase a second home, or even retire, opens up many investment opportunities to explore. The region promises a balanced market dynamic characterized by stable growth, free from the crazy swings of metropolitan hot spots. Your understanding of this market landscape can open doors to high-value investments and deliver promising returns. From Cole’s perspective, there’s been a shift in the age demographic recently. While it used to primarily attract folks looking to buy their second homes or future retirement nests, now the Greater Wenatchee area is witnessing a surge in younger families moving in permanently. The family-friendly appeal coupled with the remote working trend during the COVID-19 pandemic, has amplified its attractiveness. Essentially, being in tune with such market shifts and understanding the underlying drivers behind them can lead to you making strategic investment decisions.

Introduction to the Real Estate Market in Greater Wenatchee:
The real estate market in the Greater Wenatchee area could be your hidden gem in the Washington State. Its growing appeal as a family-friendly place to settle down, to purchase a second home, or even retire, opens up many investment opportunities to explore. The region promises a balanced market dynamic characterized by stable growth, free from the crazy swings of metropolitan hot spots. Your understanding of this market landscape can open doors to high-value investments and deliver promising returns. From Cole’s perspective, there’s been a shift in the age demographic recently. While it used to primarily attract folks looking to buy their second homes or future retirement nests, now the Greater Wenatchee area is witnessing a surge in younger families moving in permanently. The family-friendly appeal coupled with the remote working trend during the COVID-19 pandemic, has amplified its attractiveness. Essentially, being in tune with such market shifts and understanding the underlying drivers behind them can lead to you making strategic investment decisions.

Importance of Working with an Experienced Loan Officer:
An experienced loan officer is like a compass on your real estate investment journey. They can assist in assessing potential properties for cash flow, navigating various loan options and ultimately steering your investments towards profitability. In a competitive market like Wenatchee, having a seasoned loan officer on your side can turn potential intricacies into accessible opportunities. Mingling with Cole in the conversation, you quickly realize the weight he puts in this. The Wenatchee market isn’t just rife with opportunities, rent prices there are exceeding the percentage increases in mortgage rates. This essentially makes it a desirable market for investors. Therefore, working with a person who truly understands the market, like Cole, can be quite beneficial. It’s about making the right decisions, whether regarding short-term or long-term rentals, and an experienced loan officer can be instrumental in this.

The resources mentioned in this episode are:

• Contact Cole Grode: If you are interested in real estate or have any questions about the home loan market, you can reach out to Cole Grode directly.
• Explore Evergreen Home Loans: If you are in need of a home loan, consider working with Evergreen Home Loans. They are a direct lender with multiple locations, and Cole Crode is a branch manager for the company.
• Consider Wenatchee as an Investment Location: Wenatchee is a desirable location for real estate investment, with opportunities for both short-term and long-term rentals. If you are looking to invest in this area, consult with Cole Grode for guidance.
• Understand Loan Options for Short-Term Rentals: While there may not be specific loan products for short-term rental properties, there are strategies to consider. Talk to an experienced loan officer, like Cole Crode, to explore conforming options, market analysis, lease agreements, and potential non-conforming loans like DSCR.
• Plan for Financing Short-Term Rental Properties: If you want to invest in a short-term rental property, it may be beneficial to purchase it with cash and then show income stability over a period of time before refinancing. Consult with Cole Crode to

Timestamped summary of this episode:
00:00:00 – Introduction
Jeff introduces the podcast episode and mentions that they will be discussing the real estate market in the Greater Wenatchee area of Washington.

00:01:09 – Personal Investment Update
Jeff provides an update on his own investment project, a duplex in North Central Spokane. He mentions the challenges they faced with fire damage and squatters, but they have made progress in getting the property ready for renovation.

00:02:57 – Importance of Connections
Jeff highlights the importance of building relationships with contractors and leaving reviews to support their businesses. He emphasizes that these connections can be valuable in getting better prices and faster turnaround on future projects.

00:03:33 – Introduction to Cole
Jeff introduces Cole, the branch manager for Evergreen Home Loans in Wenatchee. Cole shares his background in the real estate industry and his experience with subprime lending.

00:04:39 – Current Home Loan Market
Cole discusses the current home loan market in Wenatchee, mentioning that the area has become a desirable location for families to move to. He explains that supply and demand, along with mortgage rates, are key factors in the market. He also mentions the viability of both short-term and long-term rental options in the area.

00:14:21 – Individual Approach to the Industry
The guest emphasizes that whether someone is transactionally or relationship-based depends on their individual goals in the industry. They discuss the importance of building relationships and problem-solving in the lending process.

00:15:11 – Planning for Long-Term Success
The guest explains the importance of setting clients up for future success by looking beyond a single loan transaction. They discuss the strategy of planning for an investor’s portfolio goals and navigating different loan options.

00:17:00 – Shift in Real Estate Market
The guest describes a shift in the Wenatchee market, with people moving to the area for remote work or new jobs. They discuss the challenges of supply and demand, but also highlight the opportunities for buyers in the current market.

00:18:45 – Strong Real Estate Market
The guest shares that home values in the Wenatchee area are continuing to appreciate, even with slightly higher interest rates. They highlight the attractions of the area, such as Mission Ridge and Leavenworth, and the potential for investment opportunities.

00:20:48 – Factors to Consider
The guest advises investors to consider factors beyond just the real estate market, such as the cost of power and utilities in the Wenatchee area. They mention the availability of lots for new construction and the overall positive outlook for the market.