Real estate advisory for service business owners
Property evaluations, deal structuring, partner connections — built for operators adding real estate income on top of an existing business. We translate deals into plain English and connect you to a vetted PNW partner network.
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Cornerstone is not a licensed real estate broker. For brokerage services we introduce you to a licensed agent in our PNW network.
What this is — and what it's not
We're not real estate brokers. We don't list houses or run open houses. We're operator-advisors who help service business owners make smart real estate decisions: should you buy your shop's building? Should you turn your savings into a rental? Is this off-market deal as good as it sounds? That's where we live.
What we WILL do
- Underwrite the deal with a real model — not a back-of-napkin guess
- Advise on entity structure (LLC, partnership, financing splits)
- Build your negotiation strategy and walk-away points
- Connect you to vetted lenders, attorneys, PMs, and contractors
- Tell you straight when the math doesn't work — even if you wanted it to
What we WON'T do
- List or sell properties — we are not licensed brokers
- Take referral fees, kickbacks, or markups from any partner
- Tell you what you want to hear if the numbers don't support it
- Push you into a deal to hit a quota — we don't have one
- Recommend out-of-network partners we haven't actually worked with
What you actually get
Four core advisory functions — stacked or standalone.
Property evaluation
We model the deal: cap rate, cash-on-cash, debt service coverage, vacancy assumptions, exit. You'll see in plain numbers whether it pencils.
Deal structuring
Owner-finance, seller carry-back, lease-to-own, partnership splits, syndication shares. We help you negotiate the structure, not just the price.
Partner connections
Vetted PNW network: lenders, attorneys, agents, contractors, property managers. Introductions only — never kickbacks, never markups.
Owner-occupied buying
If you rent your shop, we'll show you whether owning it makes sense. Most owners think it does and the math says otherwise. We'll tell you straight.
Our Deal Evaluation Framework
Every deal we touch runs through the same five-step process. No skipped steps. No vibes-based underwriting.
Underwriting
Build the model. The deal either pencils or it doesn't — the spreadsheet decides, not the listing photos.
- Cap rate vs. comparable submarket cap rates
- Cash-on-cash return at realistic financing terms
- DSCR (debt service coverage) at stress-test rates
- Exit assumptions: hold period, appreciation, sale costs
Risk Audit
What's not in the listing. We pressure-test every assumption that drives the underwriting.
- Vacancy assumptions vs. real submarket data
- Capex reserve: roof, HVAC, paint, flooring, parking lot
- Insurance, HOA, property taxes (and reassessment risk on purchase)
- Tenant quality, lease structure, deferred maintenance
Negotiation Strategy
Before you write an offer, we map what to ask for — and where to walk.
- Price vs. terms: when to push price vs. push concessions
- Seller credits, repair allowances, financing flexibility
- Inspection contingency, financing contingency, appraisal gap strategy
- The walk-away number — and the discipline to actually walk
Structure
How you take title and how you finance it changes the deal more than most operators realize.
- Entity strategy: single LLC, series, holding company, joint venture
- Financing: conventional, SBA 504/7a, portfolio lender, seller carry
- Partner splits: capital vs. sweat, decision rights, exit clauses
- Tax pass-through and integration with your operating business
Post-Close
The deal isn't done at close. The first 18 months decide whether it works.
- Property manager onboarding and reporting cadence
- Bookkeeping setup: separate books, clean cost basis, depreciation
- Quarterly performance review against the underwriting
- When to refinance, when to sell, when to add to the portfolio
Numbers are illustrative — every deal evaluated on its own merits with current market data.
Common Deal Scenarios
These are the four conversations we have most often with service business owners. The numbers are typical PNW ranges, not guarantees.
Buy your shop's building
Typical $500K–$2M, owner-occupied
When the math works
When SBA 504 financing fits, you have 5+ years of stable revenue, and the loan payment is at or below your current rent within 24 months. Owner-occupied SBA can put you in for 10–15% down on a commercial building you'll occupy 51%+.
When it doesn't
When your operating cash flow is still tight, when the building needs heavy capex, or when the seller's price assumes residential conversion potential you can't actually use. Buying your own building is romantic; the math has to be ruthless.
First single-family rental
$300K–$600K, PNW residential
When the math works
When you have 25%+ down, a stabilized operating business covering your living expenses, and you're buying for cash flow plus 7–10 year hold (not flipping). Snohomish and Pierce County still have submarkets where the math pencils — King County mostly doesn't, on a first deal.
When it doesn't
When you're stretching your reserves to close, when the cap rate after realistic vacancy and capex is under 4%, or when you're buying because 'real estate always goes up.' First rental is an income asset, not a lottery ticket.
Off-market deal evaluation
The friend-of-a-friend deal
When the math works
When the seller has a real motivation (estate, divorce, distress, retirement) and you're priced 10–20% below comps with terms that reflect the shortcut. Off-market done right is the best way to buy in the PNW today.
When it doesn't
When 'off-market' just means 'no agent so the seller wants full price plus.' If you can't underwrite it independently, you're not buying off-market — you're buying a story.
Partnership opportunity
You bring capital, partner brings expertise (or vice versa)
When the math works
When the operating agreement is brutal-honest about decision rights, capital calls, distribution waterfalls, and exit triggers. Best partnerships have asymmetric skill sets and a written playbook for what happens when you disagree.
When it doesn't
When the deal closes on a handshake and 'we'll figure out the paperwork later.' We've seen 50/50 splits with no tiebreaker destroy more deals than bad properties.
Partner Network Breakdown
We're operator-advisors, not a one-stop shop. When you need a service we don't perform, we connect you to a vetted partner. Introductions are free. We don't take referral fees.
Lenders
PNW community banks and portfolio lenders who actually fund small commercial and small-balance residential. Plus SBA 504/7a specialists for owner-occupied buys.
Attorneys
Real estate attorneys (NOT brokerage attorneys). LLC formation, operating agreements, partnership splits, 1031 exchanges, title issues, and lease drafting.
Property Managers
Vetted local PM relationships across Snohomish, King, Pierce, and Skagit. We've seen their books and we know who actually returns calls on a Saturday.
Contractors
Known-good rehab and ongoing maintenance crews. Roofing, HVAC, paint, flooring, electrical, plumbing. Bilingual (ENG/ESP) crews available.
Agents
Licensed real estate agents we refer to when you need brokerage services. We don't receive kickbacks. The agent works for you, not us.
No referral fees from partners — transparent. Our advice doesn't bend to who pays a kickback because nobody does.
Why we're different from a generic RE consultant
The internet has a lot of real estate gurus. Almost none of them have run a service business. We have. That changes the advice.
We understand operator constraints
You already have a day job — your business. Real estate has to fit around that, not replace it. We won't recommend a deal that pulls you out of operating mode for six months.
We tie RE strategy to overall business structure
Your real estate sits inside (or alongside) the same business structure as your operating company. Entity choice, tax treatment, and asset protection have to work together. That's why we cross-pollinate with our business-structuring practice.
We push back when the deal compromises operating cash flow
If buying this property means your operating business loses six months of working capital, the deal is probably wrong — even if the spreadsheet looks good. We'll say it out loud.
PNW Market Context
Real estate is hyper-local. Generic national advice gets you generic national results. Here's where our network and underwriting are sharpest.
- Primary focus: Snohomish, King, Pierce, and Skagit counties
- Owner-occupied buys: SBA 504 financing on commercial buildings (10–15% down possible)
- WA tax landscape: no state income tax helps cash flow; B&O tax considerations for operating-business landlords
- Opportunity Zones: WA has active OZ tracts — the no-income-tax angle compounds the federal OZ benefit
- Cross-state advisory available across the WA/OR/ID corridor (network is strongest in WA)
- We're operator-investors here ourselves — our advice is grounded in the same market we live and buy in
Who this is for
Pricing
Start with an evaluation. If full advisory is needed, we quote after.
Property Evaluation
Single-deal evaluation. We model it and tell you if it pencils.
- Full deal underwriting model
- Cap rate, COC, DSCR analysis
- Risk + assumption commentary
- Negotiation suggestions
- 30-min walkthrough call
Full Advisory
Multi-deal advisory engagement. We're your real estate sounding board.
- Up to 5 property evaluations
- Deal structuring + negotiation prep
- Lender + attorney + agent introductions
- Portfolio-level strategy review
- Quarterly check-ins for 12 months
All numbers and ranges shown are illustrative — every deal is evaluated on its own with current market data and your specific situation.
Pair this with
Real estate decisions don't happen in a vacuum. These are the most common adjacent advisory engagements.
Business Structuring
Entity strategy, holding companies, asset segregation. Your RE structure should plug into your operating business structure — not fight with it.
See business structuringLLC Formation
Setting up the actual entity. We file it correctly the first time, with the operating agreement that matches your strategy.
See LLC formationFree 15-min Audit
Not sure where to start? Book a free 15-minute call. We'll tell you what to do first — even if it isn't with us.
Book free auditAbout Cornerstone
Who we are, why we built this practice, and the operator track record behind the advice.
Read about usFAQ
Are you a licensed real estate broker?
No. We are operator-advisors. For brokerage transactions, we introduce you to a vetted licensed agent in our PNW network. We never receive referral fees or kickbacks.
Will you tell me not to buy?
Often, yes. The most valuable advice is sometimes 'this deal isn't good enough.' That's the whole point of paying for an evaluation before signing anything.
Do you cover commercial and residential?
Both. Most service business owners we work with start with their own building (commercial) or first rental (small residential). We handle both.
Where do you advise geographically?
PNW first (WA, OR, ID). We can advise on out-of-state deals but our network is strongest in the PNW corridor — specifically Snohomish, King, Pierce, and Skagit counties.
Do you take referral fees from your partners?
No. Ever. Our partners are vetted because they're good — not because they pay us. You see the same network whether you pay us $297 or $15,000.
Can you help with a 1031 exchange?
Yes — advisory side. We work with qualified intermediaries and 1031 attorneys in our network. We help you build the strategy and identify the replacement property; the QI handles the technical exchange.
Looking at a property and want a second opinion?
Get a free 15-min audit. We'll tell you if a paid evaluation makes sense or if there's a better starting point first.
We do not receive referral fees, kickbacks, or markups from any partner in our network. Period.