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All Forum Posts by: Doug N.

Doug N. has started 9 posts and replied 216 times.

Post: IRR Calculation (Distributions vs Deleveraging)

Doug N.Posted
  • Lynnwood, WA
  • Posts 221
  • Votes 157

 I like your great call on my great call about Steve Burgess. lol?

What book do you refer to? I have only read the one. 

Post: Do you paint paneling in your units?

Doug N.Posted
  • Lynnwood, WA
  • Posts 221
  • Votes 157

Hi @Galen Bricker!

I know your question is about an 80's property, but I have to say that for these types of renovations, I usually look at old re-runs of The 70's Show for style tips. Srsly, here in hipper-than-thou Seattle (and esp Portland, om*g) the millennials really appreciate the vintage look, and if you're in that college sweet spot area, it can be a real selling point. 

You can put an ad on CL with the current scheme and see what response you get, if any. 

(BTW, I am really serious. I post a lot of comedic material on BP, but this is not one.)

Post: Help! Dilemma on my first property

Doug N.Posted
  • Lynnwood, WA
  • Posts 221
  • Votes 157

@Brian Gibbons is right on the money here - and greatly detailed advice, as well. Thanks for the very clear educational material, Brian!

Post: Appropriate Attire and Appearance Questionnaire

Doug N.Posted
  • Lynnwood, WA
  • Posts 221
  • Votes 157
Originally posted by @Jose Torres:

 Hi Jose !

One can. If it does not show in the window below,  just type it all out, it will highlight in blue after you post. Sometimes (depending upon the humidity, @Brandon Turner :) ) it will not highlight at all, but folks will get your mentions - just be sure to type it out as it show in their profile, or post etc. 

Thanks for the interesting thread!

Post: Appropriate Attire and Appearance Questionnaire

Doug N.Posted
  • Lynnwood, WA
  • Posts 221
  • Votes 157
Originally posted by @Marcello Di Gerlando:

... being over dressed in a 'gansta' suite may put you directly into the clown category.

 Top contender for Best Quote of the Month category. Really, I am starting an awards show here on BP. Keep them coming, please.

Post: Appropriate Attire and Appearance Questionnaire

Doug N.Posted
  • Lynnwood, WA
  • Posts 221
  • Votes 157

I believe in what I call a 'dress bias', and it's pretty easy to prove. If you go out in Costco jeans, no watch and a bad haircut, you get one level of response, and vice versa. I think it's  deeply ingrained in all of us, whether we admit it to ourselves or not. (Like most biases.)

I read about a fascinating study done in nyc one time. Older grad student went to the subway to ask for change (dressed slightly bum-like), and made X dollars. The next day, he dressed in a suit, carried a nytimes under his arm and also carried a pipe. He was routinely getting $5 bills stuffed in his pockets, with comments like "Oh, here take this... it looks like you could use a drink as well when you get home..."

It’s apparently a thing, check it out online sometime. Folks feel the well-dressed guy should not 'suffer' as much as regular folks.

Slightly related, I also read a study about the on ramp beggars in Seattle, the make about $50 to $75 daily, and the ones with 'God Bless' on their signs make about 30% more.

Cheers!

Post: IRR Calculation (Distributions vs Deleveraging)

Doug N.Posted
  • Lynnwood, WA
  • Posts 221
  • Votes 157

@joshua It's all in here - best of luck!

The Complete Guide To Real Estate Finance For Investment Properties, 14th Edition

How To Analyze Any Single-Family, Multifamily, Or Commercial Property

By Steve Berges

John Wiley & Sons, Inc.

@Joshua Nicholasundefined

Post: What to do with these leads

Doug N.Posted
  • Lynnwood, WA
  • Posts 221
  • Votes 157
Originally posted by @David Dey:

So much gold in these two posts - I can hardly copy and paste it all!

Thank you, David! You are in the running for my Most Creativest Contributor™ award.

Srsly, you are a great poster, and I hope you never get carpal tunnel. Keep it up!

Post: 32 Unit Apartment Complex Would you buy?

Doug N.Posted
  • Lynnwood, WA
  • Posts 221
  • Votes 157
Originally posted by @Neil Johnston:

I've heard you are trying to cause problems for the sellers because you can't buy. My suggestion as the listing broker stop harassing the sellers before they get a restraining order. 

 It sounds like he's trying to sell it for you! 

If you get a restraining order, will that cancel his commision split? 

Post: Wholesaling Washington State

Doug N.Posted
  • Lynnwood, WA
  • Posts 221
  • Votes 157
Originally posted by @Steve Vaughan:

WA takes a chunk every time. Do it his way and that's 3.4% off the top! Each time.

The title co is doing him a favor.  Whether it's legal or not isn't the point in WA.  The knowledgeable assign their interest, never close.      

Thanks, Steve! Concise and to the point! 

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