Guaranteed Rental Return

A note from Austin

Why this site exists, and who is behind it.

A first-person note on the name and on how I work with people buying rental property in Washington.

From
Austin Hellickson
Role
Managing Broker, LPT Realty
Office
1230 Fryar Ave, Sumner, WA 98390
Network
Homexa®, 300+ agents across 25 states
Austin Hellickson, Managing Broker, LPT Realty
Austin Hellickson. Managing Broker, LPT Realty.

I built this site for people buying their first or second rental in Washington, and for anyone who has been told a property “pays for itself” and would like to check.

The name needs a word from me. Nobody can promise a return on a rental, me included. What the name refers to is the arithmetic, done before you sign and shown to you line by line. That is the service.

1. What I do

1.1

I am a Managing Broker with LPT Realty. My office is at 1230 Fryar Ave in Sumner, in the valley between Auburn and Puyallup. With rental buyers, the work starts with analysis of a specific property: rent, vacancy, expenses, financing, and what is left over. After that comes finding properties that suit a buyer’s budget and appetite for work, then representing the purchase from offer to closing.

1.2

The analysis is where I spend the most care. It is also the part many buyers skip, usually because the listing already included a projected return and it looked fine. Those projections tend to leave out the same things: vacancy, a real repair budget, management, and a reserve for the roof.

2. How I work

2.1

I start conservative on purpose. I would rather tell you a house looks thin and have it do better than the other way round.

I show every assumption. If I think a roof has a few years left, the schedule says so, and you can disagree with me and change the number. The goal is a decision you understand, and a single figure with no working behind it cannot give you that.

2.2

I also tell people when to walk away. When a property loses money at the asking price, the problem is usually the price. The same house can be a fine home for someone who plans to live in it, and a poor rental for someone who needs it to carry itself. Saying so early saves everyone a lot of time.

3. What I will not do

3.1

I will not quote a return as a promise, and I will not forecast appreciation. I will not describe another client’s results to sell you on a property; every building is its own case, and yours deserves its own numbers.

I do not give tax or legal advice. For depreciation or a 1031 exchange, you want a CPA and an attorney, and I am glad to work alongside yours and send them the analysis.

4. Why small rentals, and why Washington

4.1

A small rental is one of the few investments an ordinary person can understand completely. You can walk through it and read every lease. So there is little excuse for buying one on a guess.

Washington has also changed a great deal for small landlords in a short time. The 2023 middle housing law opened many single-family lots to duplexes and fourplexes, a companion law set statewide rules for ADUs, and a 2025 law put limits on annual rent increases for most units. Keeping up with those changes, and reading them into an analysis correctly, is part of the job.

Small dark board-and-batten backyard cottage with a metal roof and wood-framed glass doors, reached by a stone path through a planted garden, with Elliott Bay and the Seattle skyline in the distance
Exhibit A. Backyard cottage, Seattle.

5. Where I work, and with whom

5.1

I work most directly in Pierce and King counties: Tacoma, Kent, Auburn and the cities around my office in Sumner. For Spokane and the Tri-Cities, I can represent you or connect you with a licensed agent through the Homexa® network who works there.

Homexa is a network of more than 300 agents across 25 states. It is not a brokerage. Brokerage services come from independently licensed professionals, and in my case that is LPT Realty.

6. Working with me

6.1

Most conversations start with an address. Send it along with how you expect to finance the purchase and what you want the property to do for you: income now, a place to live now and a rental later, or a long hold. I will send the analysis in writing, and then we talk. If the numbers do not work, I will say so, and we will look at what price or plan would make them work, or move on to the next one.

The first step is a property, or a place you are thinking about.

Call me, or send the details through the request form.

Request an analysis206.940.0942Austin.Hellickson@homexa.com

Austin HellicksonManaging Broker, LPT Realty