All Forum Posts by: David Truong

I hate to be negative but I really doubt you'd get something at the auction that cheap that rents that much around here. Either you're underestimating how much the house will get sold for or you're over estimating the rent. I've analyzed a lot of the houses that have gotten sold at the king county auction and they always get bid up fairly high to where they don't make sense to the average investor unless they have deep pockets to cover them all in cash. In snohomish or pierce county it may be possible to get them cheap but likely not getting that much rent. It'd be great if you can prove me wrong though and best of luck.

How do you plan on buying at the auction? Cash or through one of the hard money auction services?

Can you add me to your buyers list? Wouldn't mind meeting up over coffee to chat also.

Look in the Resources>Hard Money Lenders page here on BP. Like Adrian said, you could ask other flippers in your area. You could also attend or contact your local REIA. They will likely have many sources.

Welcome Uy! Sounds like a good deal. Definitely post and share more.

Congrats! Curious to know what neighborhood you got this in for that price.

Welcome Melissa! Great to see fellow Seattleites on here. If I ever get rentals in your area, I'll keep you in mind.

Rentals sound doable and people have done it before. You would just need to make sure you get the house at a good deal and be sure you can refinance. It sounds like a good strategy as long as you get the numbers down.

Not inter-related. For example as a landlord, instead of the costly and timely eviction process through the court, you may offer cash to the tenants to move out.

Yes like the guys above said, get a hardwood flooring specialist. They'll do it faster and a better job. I've used a couple guys I found on craigslist but that was years ago. I still have their contact info if you want them anyway. Message me if you do.

Wow, didn't think prices would be that high in Ellensburg to not CF. Is it really the prices are too high or is it the rental rates aren't that high? I know in Seattle the rents are ridiculous but the home prices are also high so it's very hard to find CF properties. I'd definitely look within an hour around you and if not then look into becoming an absentee owner.