All Forum Posts by: Corey Davis

@Ken Chodad ken, someone needs to start taking down numbers and making this happen. Here's mine (206) 681-3420.

I know @Benjamin Ficker and @Account Closed already have my digits, perhaps we should all give them to Ken and get this going?

@Michael Do Michael, want to jump in on this? It would be great to have a GC in the mix.

@Tucker Merrihew I normally flip classics in Portland over in the NE overlook and Alberta areas. I have a property now that I was approached on to tear down and infill. (It's a 1920 bungalow surrounded by new high end Eco friendly stuff)

I'm still on the fence about tearing it down, as I have no experience in that department. What kind of resource would I use to get a second opinion?

@Douglas Dowell I'm a low risk kind of guy when it comes to using money that isn't my own. Option 1 is sort of my obvious direction, but I have yet to hear examples of how that normally works from anyone other than an attorney.

Option 2 is a smart move, with the exception that it's my understanding I can't do the work on an SDIRA purchased property, as it violates a regulation about personal use. I own these properties, and I oversee the GC, rehab, and sale. I also jump in and pick up a broom/hammer/paintbrush whenever and wherever I can. Perhaps in the future I will purchase through an SDIRA and stay hands off, but for now, it's off the mark.

Option 3 would work if I was looking for "just money". I work better with people who understand real estate, see potential in old homes and developing neighborhoods, and understand the use of rehab funds. In the past I've done much better work with small time investors, as we mutually have ideas on how to spend mutual funds appropriately.

@Kyle Webb two questions:

If you're "quite introverted, and don't see yourself marketing" what are you going to do with a RE licence?

Ultimately, what do you "want" to do? What end goal are you aiming for specifically? As in, what kind of day to day routine are you looking for?

@Eric M. Thanks for the help on this Eric. I've consulted a couple of attorneys, they are great at telling me what kind of options I have. I'm looking for advice here to see what people have already tried, and to find out what worked, and what didn't.

@Brian Gibbons So, you're not putting in funds on these deals? My situation is a little different, as I'm putting in the majority of funds, and all of the legwork. I'm starting to see my situation as more of a situation with investors.

@Mark Sargeant @Benjamin Ficker

Mark, Benjamin Ficker is in your area and is a good guy to talk to about your situation.

@Mark Sargeant Welcome Mark! There's a forum post on here somewhere with a bunch of us discussing a get-together in Portland. New guys are welcome!

@Vance Petersen Would it be better to say that lending based the strength of a deal only is far less common than it was six years ago?