All Forum Posts by: Brian Truman

Would any of you be willing to share your mobile home success stories with us, and how they fit into your portfolio? 

Just trying to gauge market demand here with a poll on seller financed mobiles with land, and see if they work as rentals vs land banking vs ...? We have come across more than a few of these, and we are not sure how or if they work, or even how they would work. Would appreciate any feedback from others that have found success in that market. Thank you, BP'ers!

Hi @Mike Sumsky, 

Thanks a ton for that! Its super helpful. 

Hello BP members in the Puget Sound region! Who is investing in Kitsap County?

My business partner and I are finding a lot of off market properties in the Kitsap County area: Bremerton, Belfair, Port Orchard, Poulsbo, Silverdale, Kingston, and the surrounding areas. My question to you is, what as investors in these markets has worked for you, and what has not? 

I typically use $30/sq.ft to estimate fix up costs. Would that work for you in Kitsap?

Mobiles.... too much work? Or are they worth it?

Would love to connect with you either way. Please PM me if you would like to discuss further. Cheers!

Brian

Hello BP!

I have been sending out direct mail, and getting a ton of returned mail. I have not yet tried a skip tracing service, the process seems a bit daunting. I was wondering if those of you who do have access to that kind of info..... how has it been working for you? Has it been worth it? Have any of your deals come from that list? 

I have heard of Lexis Nexus, TLO, and one or two others. But my understanding is that they are a pretty intense process. 

Also.... is there a middle ground type of service that is out there, that I don't have to go through massive hoops just to get access, that balances information with cost effectiveness? Thank you in advance!

Hey BP friends! I have a property in contract that is in the 98371 zip code. It is one parcel that has a 1200 sq.ft house, and a duplex with about 600 sq. ft. each on one parcel. It is a corner lot and all units have street frontage. The house is getting $1200/mo and the duplex units are getting $850/ mo each. There is a lot of potential to add value here! Its close to schools, shopping, public transportation. 

I am looking to assign the contract. The all in sale price is $375k. Let me know if anyone is interested. Thank you all in advance!

Hi BP!

I have a house that I am looking to assign the contract on. 

• 3 bed/1 bath (1134 sq/ft)
• new windows
• good siding
• large lot (13,750 sqft)
• Walking distance to University Place Primary School
• Close to Trader Joe's and Safeway. 

House is nearly rent ready as is. Needs about $10,000 in fix up to get there. Would be a great BRRR! Rents are about $1700/mo.

If done as flip, you are looking at $30k to $35k in fix up costs to get to the $325k ARV. Let me know if you are interested! Thank you!

Hi @Robert Freeborn, 

That has been very frustrating to me and my buyers as well.... especially in the land arena. You can only sell a house there for $600k.... but the seller wants $300k for the lot..... those numbers do not work. 

I had a seller tell me that he had 4 lots (NOT divided yet), and the houses would sell in the $650k region, and he wanted $1M for the land........ His argument was that the developer would make $1M off the sale of the other two houses once the first two sold and paid for the land....... Had no knowledge or understanding of the other costs involved in getting one lot to four smaller build-able lots. 

I share your frustration in that area....

Question for all you investor buyers out here in the Puget Sound region: What has been the biggest challenge you have faced in this sellers market the last 3 months?

Aloha, @Kekoa-Michael Lwin!

I just came back from Kauai! What a magical place!

Ok..... now for what I really meant to talk with you about. I am a wholesaler here in Seattle and down in Tacoma. Would very much like to meet up for coffee sometime and talk about investing. 

Actually.....did I see you at the Fixated on Real Estate meet up?

Well, cheers and welcome to the PNW!

Thanks @Nghi Le!

BTW, I saw you at the Fixated meet up last night. Hope you are doing well! Cheers!