All Forum Posts by: James Marszalek

@Natalie Kolodij, Really appreciate your kind words. Thanks! 

@Christopher Hu, I'm an investor specialist, because I am an investor. I just also happen to be a very proficient agent for my clients at the same time. All I could recommend is to check out my Bigger Pockets Profile. Check out my awesome commercial, and look at some of the history of where I've been and what I've done. I'm confident that I could be a great asset to you in research, acquisition, and Listing. 

If you're interested in swinging down south on Jan 4th, I'm hosting a huge investor event in Puyallup at 6:30pm. We could sit down before or after that and chat about all the different things I could contribute to your operation. 

https://www.biggerpockets.com/forums/521/topics/389751-using-hard-money-101---w-special-guest-eastside-funding

Whether you want to work with me or not, I recommend doing your due diligence on agents. I come across SO many agents that don't have the clients best interests at heart. It's all about collect the commission and move on to the next client. I don't operate like that, and I don't support anyone who does. Asking the right questions, and setting clear expectations in the beginning is critical to having a positive relationship with an agent. 

Let me know if there's anything I can do! 

@Chris Quinn, really appreciate your kind words. Investor Psychology is one of my favorite topics. Something I could talk about all day, same thing with mortgage acceleration. When you've got powerful information that others don't, it makes you want to share it with everyone you know. You know? I run an investment club out of Puyallup, WA. We meet weekly to tackle real issues that face investors. We talk about Investor Psychology (obviously), discuss tools strategies and resources, share deals, and network. Here's an example of what we're doing next week: https://www.biggerpockets.com/forums/521/topics/389751-using-hard-money-101---w-special-guest-eastside-funding

I show you that only to say that I'm still working on getting myself setup to live stream (or at least record) every event we do. I believe when you surround yourself with people who have the same passions as you do for something, it evolves into a powerful team. Although it isn't really realistic to have you fly to Washington every Wednesday, at least you'd be able to participate with the group from home. I'll shoot you a message when I've got that rolling. Thanks again man, I'm glad I could motivate and inspire. Good luck down there in the Lone Star State! 

 I appreciate your kind words, thanks Scott. It was an honor to serve, for sure. Natalie and I are setting up a sit down. I'm a firm believer that vendors adjacent to real estate investors (like real estate agents, CPA's, contractors, etc) are 100% more efficient at serving investors when they are investors themselves. So you're on a good path! Good luck! 

Hey @Omar Ongoco. My personal preference, both on the residential side and the investor side, I don't do condos or HOA's. I became an investor to flex my creative muscles for getting deals done, thus I don't appreciate being restricted by rules and CC&R's that dictate how I run my business. With that being said though, the cost of flipping can be high, especially when you talk about selling it.

2 things. 

1st, You don't have to pay both sides of commissions and escrow fees when you sell. It can easily be split down the middle, but that may limit your buyer pool. Depends on the price. In this particular situation, I think being closed to paying closing costs for both sides would limit your pool, only because you're talking about a fairly low end condo for King County. 

2nd, if closing costs and other expenses are a big deal, then you need to work that into your purchase price. Remember, you don't make your money when you sell, you make it when you buy. If you're planning on having $15,000 in costs associated with buying/selling, then my offer would be $15,000 less than what it was originally. If that price isn't agreeable to the seller, no big deal, move onto the next until you find a buyer willing to do that deal. 

For investors that I work with consistently, and have a working relationship with, I will waive the buyer's side of commission, as long as they are willing to keep me as the listing agent. This has worked wonderfully in the past, and only makes both our operations stronger. You know any other agents that do that? I'm in the business of building relationships. Selling houses is a side effect to me. It helps that I was an investor far before I became a licensed agent. Anyway, some food for thought. Hope it helps!  

Can't recommend this enough everyone: Time Block your time. Get a calendar on the wall, or on your phone. Put items on it daily! Things like "Analyze 1 house", or "Make a new connection", or "Go price out appliances/Flooring/Windows/Etc". Force your brain to go through the motions! 

Remember, as a beginner, the most important model is "Build the system, Work the System". Make it your mantra. Wake up saying, go to bed saying. Live it, breathe it, eat it, and drink it. Your system is what makes your investing successful! So go out and build it! You aren't going to break it, just start building, one day at a time! 

@Debra Batterson, no need to apologize. That's what posts like this are for! We'll find someone! 

Tactical definition: "relating to, or constituting actions carefully planned to gain a specific end"

I'm a combat veteran, it's the analogy I understand all too well. When you're in the field, you must rely on tools, resources, and strategies to achieve the operation goal. I need someone that will look at my business, finances, and strategies to produce a plan for how to minimize or reduce tax liability.  

I need a CPA that doesn't view their clients as a quarterly task. I need a CPA that sees the situation as a living breathing thing that must be reacted to, in addition to having the ability to proactively attack accounting problems. I need a strategist that can help me build a game-plan for my real estate business, as well as lay out strategies for investment real estate. 

They must be familiar with WA state laws, IRS rules, and a confident understanding of how to use the rules to their advantage. I'd prefer they're in Washington, but as long as they meet the criteria, I'm open to anyone. 

Thanks for your referrals and votes! 

@Richelle Hatch 

So excited you'll be joining us! No need to bring anything other than some paper for notes, and an open mind to learn some amazing concepts that can be applied to your Investing System! 

I like the idea of a breakfast meeting. What would you want that to look like? Accountability? Networking? Talking about deals? Education content? 

 The reason the LOC is better is because you're affecting the LOC with Income. You aren't just pulling the money out, putting it towards the principal, then not touching the principal of the LOC. Every time you get paid, that money is direct deposited into the LOC, affecting the principal (and the effective APR of the LOC). This allows you to boost your credit, but also minimize interest paid, and minimize time on the note. What does putting your checks into your checking account do for you? Nothing. Using a LOC instead of a checking account is going to affect everything. If you do it this way, the effective interest ends up being 3-3.5%. So it doesn't matter if the interest rate on the LOC is 125%. You're still going to accelerate the mortgage, and your credit in a major way.