All Forum Posts by: Amir Khan

Hi everyone,

My husband and I are just starting out in the real estate investing game. We live in the greater Seattle area, WA, and just got pre-approved for a loan. Right now, we rent a 3-bed, 2-bath house for $1300/month in a park. It's a pretty good deal in our minds, and we are inclined to stay there because rent is so cheap. For a long time, we were saving for a house in Washington and would have ended up buying a duplex and house hack. However, because of this rent deal, we don't see a reason to leave. So, we've shifted gears for our real estate investing strategy to just purchasing a long-term rental.

After joining this group and learning a lot, and given the housing prices in the Greater Seattle area, the lower rent-to-price ratios, bad landlord-tenant laws, and the astronomical prices, we are seriously considering investing out of state. Given our newbie status, do you think it makes sense for us to invest out of state to begin?

When crunching the numbers, it seems to make more sense for our situation every time. However, if we did invest out of state, it would go against a lot of beginner best practices.

Thanks! Looking for some advice from seasoned investors.

You’ve made a great point about checking the borrower’s track record on completed projects. Seeing how they’ve handled similar projects—especially when things didn’t go as planned—can give valuable insight into their problem-solving skills and reliability.

How do you usually gather this kind of information? Do you rely on references from previous lenders, or do you request more detailed project reports? I'd be interested to hear how you approach evaluating a borrower’s past performance and how that plays into your final lending decision.

 Mr. Khan! Thanks for your reply. My goals are two part. First, short term, I'd like to expand my portfolio of just one property into 2 by househacking by owner occupying a multi property. This is mostly gain experience and grow my net worth. Second, I'd like to manage each property to make some cash flow to cover my 2 biggest expenses which is housing (covered by house hacking) and transportation. I think I can cover those with just 2-3 properties. Seeing that I currently own one 5 unit mixed use property.

What Qualities Should You Look for in a Borrower Before Offering Private Money Loans?

Hi, 

My husband and I have been talking about real estate for years. But we just can’t pull the trigger on anything. Any advice on knowing when to purchase, what to purchase, etc. for your first property, would be great! Thank you!

Any best practices when attempting to secure business funding from a bank, in the form of a loan or credit? When they ask the nature of my business, do I advise that I'm a real estate investor? Being that my business is brand new, do I project business profit when they ask for the annual business income?