Networking with both Flip and Buy & Hold Investors in WA and ID

[Patrick Lorang]

Real estate has always fascinated me. This no doubt began when, as a 5- or 6-year-old, I saw my great-grandparents' ornate Victorian farmhouse for the first time. I have been enthralled with architecture and landscaping, ever since.

My first home, a 1902 2-bedroom Craftsman cottage, was purchased in 1988. Listed 16 years later on the MLS, it sold to the first young couple to walk through, at a price five times the original purchase cost. (These capital gains reflect both a good purchase decision on my part, and the luck of entering a real estate market early in its spectacular appreciation cycle.) I have lived in my present home, a modest 1915 2-bedroom, for the past 12 years; its present value being at least double what I paid for it.

As may be apparent from the preceding, my interest is in older homes, having an aesthetic character generally not found in modern construction. Skilled in basic carpentry, plumbing and electrical work, I am well-qualified to bring older homes up-to-code and appointed with modern conveniences, all the while preserving their historic character. Presently, I am a Board Officer of White Spring Ranch Museum, situated on the grounds of my great-grandparents' Genesee, Idaho farmstead, recognized as a National Historic Site in 2004.

My employment history has been rich and varied, including long stints as a bookseller, charter bus driver, and over 12 years across one university library and three public library systems. I am deep into American history, architecture, gardening and wilderness hiking, the latter of which I do from my wooded, 10-acre base camp, adjoining the Okanogan National Forest in north-central Washington State. I currently work as a Senior Assembler for Schweitzer Engineering Laboratories, Inc., in Pullman, WA, and am looking into real estate investing as a means for bolstering my future, retirement income. With a natural interest in real estate, good people skills, and sound judgment when it comes to recognizing value, real estate investment is a field I've long wanted to explore, and one I'm confident I'll be good at.

Though I am not seeking a formal, mentor relationship at this time, I welcome contact from successful investors who may have encouragement or general advice to offer for starting-out in real estate investment. Responding to a rare opportunity, I already have an accepted purchase offer on an older home in Eastern Washington, the condition of which necessitates certain upgrades before the property can be bank finance-able. I'm, therefore, exploring options for private or hard money loans, in order to follow-through with my purchase offer (the seller is elderly and unwilling to engage in an owner contract). I am committed to this deal, and so prefer to receive only "can-do" input from those who have successfully undertaken similar projects.

Thank you for taking the time to read my introductory post and profile.