All Forum Posts by: Robert Freeborn

@Brian Hughes fantastic advice here.  Well worded and thought out.  Great job.

Welcome to the area Anthony!  Getting your license is exciting, so congrats on that step.  Hopfully we'll meet at a meetup soon.  In the mean time, feel free to reach out if you'd like help analyzing a deal.

Agreed with Andy.  While it won't be bad to put an offer in without reviewing the financials, make SURE you have an inspection period that gives you time to review them.  

@Luis Prieto I mean equity lines of credit.  If you have 120k of credit you could access a portion of that (not all for investment properties, and you would probably need to look at local community banks.)  As long as the rent still covers the payments you should be able to leverage the money to either buy an additional rental unit (using that units future rent to help qualify) OR use it as a down payment for either an equity partner or hard money lender for a fix and flip in your area.  It can be tricky to explain over a forum, but its awesome when you can do it.

@Luis Prieto Great job on the foreclosure.  Most beginners shy away from those as they can become really tricky.  But, as you've found, they can also be a great opportunity to take advantage of.  

I think you two are off to a great start.  Even though you have to live in the home for a year, you should consider using the equity in the three properties you have now.  This will allow you to maybe do another rental or a fix and flip where you can keep an eye on it.  

What area do you live in?

@Daniel O. As was mentioned earlier, Sedro, Burlington, Anacortes and Mount Vernon are solid growth markets.  There are tons of opportunities out there, even on the market.   Give me a call if you'd like to explore the market up here.  

@Julie Marquez Hi again!  

As an agent, if another agent has remarks that make a showing more difficult, it doesn't remove it from my list.  It does move it to the very end.  Unless my client is dead set on that house I will show them one of the many other homes in the area that they will be just as happy with, and that are much easier to show.  Ease of showing is important. 

@Ashley Hodge I know how the investment game works.  Thought the WA market is competitive, there is a TON of velocity in the market, and still room for growth.  What are you looking for?

@Nick Lalakos Hi Nick, welcome to BP! As has been said, a big issue you’re running into with this is them being mobile homes. Everyone loves owning the park, but owning the MH themselves can be off putting. Also, to me a big “that sucks” is the lot rent. That rent is basically your mortgage, without it going to the principle! Basically, for your paying 33k a year just for the lot rent, on top of any mortgage you may have. I’m unable to dIve Into more on my phone right. Is he happy to talk to you about it more or about Seattle in general. Washington is a great place to be. You’ll love it here.

@Connor Heim It sounds to me like there was a reasonable case for them to assume the insurance would cover it. However, the agent didn’t control the insurance company, and they, for whatever reason, didn’t allow the claim. While I do think the agent should have been more careful with his wording (should cover, not will cover) I think you’re just seeing an unfortunate circumstance come to fruition. I would say, pay the tuition, and next time verify that insurance has said they would pay the claim, instead of it being in processing.