Newbie Investor starting out in Whatcom county

Newbie Investor starting out in Whatcom county

Member since 2021 · 5 posts · 4 votes

Hello everyone.

I’m a newbie investor and soon newbie landlord. I just acquired two fixers in Whatcom county that I will be rehabbing this spring. I plan to make them into rentals by this fall.

I’m looking to connect with someone who want to work together. I’m pretty handy with tools and business minded. Maybe we can help each other in some way. I definitely wouldn’t mind the help with my rehabs and getting started with property management.

I’m aware of local meetup events and FB groups I might want to join and responding to previous forum posts for my region. Will do.

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  • Michael K GallagherBusiness Member
    Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
    1y

    welcome to BP and the forums @Frank Oliver I hope you find it as eye opening and supportive as I have over the many year's I've been participating.  I think you have the basics of meeting partners and people to work with in your local market and seem to be well on the way with two deals going already so big congrats there!

    what were some things that drew you to these specific properties?

  • Member since 2021 · 5 posts · 4 votes
    1y

    I have a weekend cabin in the area and explore the surrounding communities. These two properties are a block apart in an area that is steadily gentrifying. Fortunately, I was able to acquire both properties at a good price on seller financing.


    One of the properties is about 90% rent ready and just needs a few cosmetic repairs. I’m giving myself about 2-3 months to make the necessary repairs before listing as a rental. The other property is a cottage built in the mid 70s and requires significant electrical/plumbing work to bring up to code. If I’m doing the rehab alone, it will probably take me 6-8 months to complete.

  • Real Estate Agent · Memphis, TN · Member since 2024 · 250 posts · 71 votes
    1y

    @Frank Oliver

    Welcome to the community! 

    Are they both SFH or MFH? Take a look at the BP Fix and Flips podcast. Follow These Steps BEFORE You Start Flipping Houses in 2024 - it goes over the basics, choosing locations, etc. 


    Good luck with your portfolio!! 

  • Real Estate Agent · Storrs Mansfield, CT · Member since 2015 · 11 posts · 6 votes
    1y

    Welcome Frank!

    Bellingham/Whatcom County is a fantastic area to be diving into. After being a fan of the area for a number of years and analyzing countless properties, I've actively been looking to expand there myself.
    I sent you a message. Hope to connect!

  • Tim CornwellBusiness Member
    Real Estate Broker · Bellingham, WA · Member since 2015 · 51 posts · 23 votes
    1y

    Congrats on your success in Whatcom County @Frank Oliver! Sounds like you've got a project on your hands. I live and work and own 2 apartments in Bellingham. Would love to meet up sometime.

    Tim Cornwell - Redwood Group-eXp Realty528 Reviews
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