Shawn Boday

Shawn Boday

While many novices think of the Internet as an entirely global entity, insiders understand that the people building today’s most popular digital services are concentrated more than ever in only a handful of locations. The monolithic companies that are moving the world wide web forward like Amazon and Microsoft are occupying an ever larger footprint in a few important locations. For a long time, Silicon Valley was home to all the top companies online, but in recent years there has been a significant push toward the pacific northwest and especially into the Seattle area which is now placing a serious strain on local Washington State metropolitan real estate resources. We sat down with real estate investment pioneer Shawn Boday to discuss the present, and future, real world needs of the people who are building the digital worlds we all live in right now.

Hot Started: Thanks for taking the time to chat with us today. Can you tell us a little bit about PerDay LLC and the work you are doing to alleviate the housing crunch in Seattle right now?

Shawn Boday: “When PerDay first started acquiring properties, I already had a strong belief in the local Seattle economy, and I’d like to say I was able to predict the unprecedented population growth in the region, but honestly that was all a fair bit of good fortune from my point of view. My initial hope was to acquire property with a solid long term rate of return, but as Amazon and Microsoft continue to generate explosive growth – the infrastructure for offices, retail and housing in the area are becoming heavily strained and the need for modernization, efficiency and enhancements hasn’t even started to reach its eventual peak yet.”

Hot Started: Do you have any understanding why the Seattle area has become such a hot spot all of a sudden?

Shawn Boday: “All of a sudden may be a bit off the mark, like saying an actor has become an overnight success when he has worked at his craft for a decade in supporting roles. There are many factors at play, but a few of the major ones would be tax structure, brain drain, educational standards and climate change. When you compare the tax policy of the State of California to Washington State, you quickly realize the advantages of not having any state income tax… and so do many of the people who have moved north from California to Seattle. Unfortunately for the golden state, that has also started to create a significant brain drain, as tech experts and startup visionaries have taken their talents north with them. Add in the pull of Amazon, Valve, Microsoft and others, along with the wealth of educational backing that schools like the University of Washington provide for coders and tech field skill sets and you begin to see why such a massive white-collar work force is now blooming in Washington. The move toward a livable minimum wage, aesthetics of the forests and lakes, along with so many other factors are also making it a desirable place for millenials to settle, and they are now the largest segment of the US population according to the most recent census bureau data on record.”

Hot Started: You mentioned climate change as another possible explanation?

Shawn Boday: “Whether one believes the change in climate is manmade or caused by some other factor, the undeniable fact is that California is facing the worst droughts on record, Arizona is subjected to scorching heat, and the temperatures up north are becoming more appealing. Washington is becoming sunny for longer summers, and is unlikely to face similar water shortages. I think that definitely plays at least some small part in what is becoming a significant migration among tech industry insiders toward areas like Seattle, Kirkland, Medina, Bellevue and beyond.”

Hot Started: So, then what role do you believe PerDay LLC will fulfill in solving the housing crunch?

Shawn Boday: “If you look at the data, and I am always one to make data-driven decisions, it becomes clear that the infrastructure in place is simply insufficient to accommodate the influx of people into the area. PerDay LLC began by acquiring rental properties, single family homes and retail spaces in the metro area, but we are now looking closely at expanding our efforts to further ease the shortage of usable space by working closely with local land developers to add additional capacity to the area. Towns are building new schools, expanding libraries, and doing their best to provide roads with express lanes or other enhancements that allow the urban areas to sprawl outward to places like Bothell and Sammamish. Large companies like Amazon on creating their own skyrises and are dotting the skyline with cranes that seem to be building around the clock… but that still leaves a lot of smaller startups and entrepreneurs out in the cold.”

“The simple fact is, the need for quality space in the pacific northwest is accelerating on a PerDay basis, and our mission is to get ahead of that curve to be able to offer the sort of real estate solutions that the region requires to assimilate so many new entrants while maintaining the character and charm of the area that local residents have always enjoyed.”

Developers, investors and interested entrepreneurs are encouraged to visit the www.PerDayLLC.com website to learn more about the regional growth and solutions the company provides. “We look forward to working with the best development teams, facilities departments, land use regulators and clients as we do our part in helping to build the world’s new tech industry capital with the same precision and innovative spirit that has always allowed the best digital companies to build the virtual worlds we all now inhabit as well.”