All Forum Posts by: Alex Chin

I'd be willing to be that @Ryland Taniguchi has done this a time or two.

 Seriously though, we generally have at least 2-4 guys who are in a constant hunt for deals and can close VERY quickly on solid wholesale prospects throughout the Puget Sound region.

@Tim West congratulations on the upcoming birth! Best wishes, and hope we get to see you out here some time.

Hello @Charlie Redding.

If you aren't wedded to the Seattle area, looking out of state at turnkey cash-flow rentals may be one direction you could go.

If your preference keeps you local, then you could consider working with a hard money lender. Purchase properties in cash, pay 3-5 points up front + 10% annual, and line up a cash-out refinance of the property to get it on a nice low 30-yr. mortgage.

@Helen Kirk - I'm chuckling because I was excited for a moment thinking this was in Auburn WA.

Hell, raw land at $31k in downtown Auburn would have been a steal, let alone having a fixer upper structure.

@Chauvin Rupley - I would also look to explore a refi. I dont know what the terms of your loan are like, but if you can possibly refi out of the VA loan, you'd have it available to buy a place at your next posting, meanwhile, as long as you cash flow even a bit at this one, you can long-distance landlord and allow the equity and value to keep building up.

A fairly common refrain I hear from active and former military members is that they wished they had kept their houses they bought in the course of their postings. Often times, it is for the sake of their families as they wish they had additional property and the flexibility that it potentially would have given them.

Feel free to post any questions you have for the community, please be aware that many members rely on keywords to home in on relevant posts, so make sure to mention the neighborhoods/cities that you have interest in.

Hello @Troy MacDonald! Welcome to the site, good to get to know you.

If you're interested in the Yakima area, then you may want to speak with @Enrique Jevons. Last I checked, he had a property that was available that may fit your metrics.

My company has done these for some of the big multi-family buildings (50+ units). I think it runs us $2.5k-$3.5K for the panel, then $1k-$2k for labor, permits, etc.

Bigger customers get a bit of a break, I think we ended up charging about $4.5K/panel converted. It was for part of a larger project, so some of the costs of the specific line item ended up getting a bit squished and massaged to help close out things.

 My thoughts align with yours. I don't think a lot of folks have quite realized yet just the powerful effect the addition of a Light Rail station will have on an area. A quick example would be my parent's house. It ended up being located near the Beacon Hill Light Rail station in Seattle and saw an immediate 10% jump in appreciation when the station was announced, and within a month of the station opening, another 25% bump.

Over all, as the Light Rail continues to expand, it will help transform Everett-Seattle-Tacoma into a single "super-metro" region, and any property located near a station will be an incredibly valuable asset.

Well, in that case, @Ashley Abramson I do know another guy who was interested in making gap funding loans, do you still need a lender for the project?