All Forum Posts by: Geordy Rostad
Geordy Rostad has started 4 posts and replied 530 times.
Post: Should I call people like this

- Real Estate Broker
- Kirkland, WA
- Posts 549
- Votes 411
@Account Closed
You could call them to try to make friends but you're probably not going to get the property at a discount. They are fellow investors, not distressed property owners. You need to look for an ad with words like "Needs work, value in the land, must sell quick".
Post: [Calc Review] Help me analyze this deal

- Real Estate Broker
- Kirkland, WA
- Posts 549
- Votes 411
You have to live somewhere right? If you live in a duplex and you are making payments towards it, your payment will stay the same while your tenant's rent will increase over the years.
I think that's an excellent idea for a first property and I really wish I had done the same thing.
Post: Pay mortgage or invest?

- Real Estate Broker
- Kirkland, WA
- Posts 549
- Votes 411
What is the interest rate on your mortgage? Chances are that this is the absolute cheapest money you will be able to borrow. You would be much better served by aggressive saving.
You should check out the book Financial Freedom by Grant Sabatier. Lots of great ideas in there for reducing living expenses and aggressive saving.
Post: Ways to improve credit

- Real Estate Broker
- Kirkland, WA
- Posts 549
- Votes 411
It depends if you credit is bad or just non-existent. If it's just non-existent, you can get a credit card and start using it for monthly purchases such as food and gas. Make sure you pay it off every month and put it on autopay so that bill cannot be forgotten no matter what.
Post: Question on wholesaling

- Real Estate Broker
- Kirkland, WA
- Posts 549
- Votes 411
Make sure you stress that you are purchasing as-is and that you can handle all of the cleanup and junk removal. They can hand you the key and walk away. Your value is that you are making the transaction easy for them.
Post: [Calc Review] Help me analyze this deal

- Real Estate Broker
- Kirkland, WA
- Posts 549
- Votes 411
Are those numbers right? $154k in repairs?
Post: New Investor how are people finding deals?

- Real Estate Broker
- Kirkland, WA
- Posts 549
- Votes 411
The MLS is a great place to start but if you've exhausted it, here's a couple more places to try:
1) Wholesalers - Go to some local real estate investor meetups and meet some of these guys. Try meetup.com and the Bigger Pockets events section under networking. You can also search the forums here "Alaska wholesaler" and see if anything pops up.
2) Zillow has "make me move" and some pre foreclosures you can search through.
3) Craigslist still occasionally has some true FSBO properties. Just have to look for them.
4) This site has some interesting stuff sometimes. Haven't tried it in Alaska yet though http://www.buildingsbyowner.com
5) Bigger Pockets has a marketplace section https://www.biggerpockets.com/real-estate-listings
6) Driving for dollars - drive around looking for distressed properties. Knock on the doors. If it's vacant, knock on the neighbor's door.
That's all I have for the moment but someone else here can probably give you another 6 if you need them. Good luck!
Post: I’m looking at a old 3 unit building.

- Real Estate Broker
- Kirkland, WA
- Posts 549
- Votes 411
The main expensive things are plumbing, electrical, and heating.
Make sure the wiring is updated with a proper breakerbox. Make sure the wiring is copper.
Make sure the plumbing is not galvanized. Copper supply and plastic drains are ideal.
Make sure the heating works and is in good condition. Look for any evidence of an oil tank on the property. Personally, I would be very hesitant to purchase a property with an oil tank on it. Everyone else's risk tolerance is different and some people my accept that risk. I don't.
$15k to renovate does not leave much margin for error. What is your strategy on this one? Buy/hold, flip, BRRRR?
If you have not done so yet, you should run all of the numbers in the Bigger Pockets rental calculator in the tools section. You can post a link back to your calculations here and get even more feedback on it.
Post: When do you stop cold calling people?

- Real Estate Broker
- Kirkland, WA
- Posts 549
- Votes 411
@Account Closed
If you have made them mad, there is very little chance of the turning them into a future client. Some people are good at converting these sort of ice cold leads but why?
Just move on and call the next one. Don't fall in love with a deal you don't have yet.
Post: Tulsa, OK Investing: Putting together my team!

- Real Estate Broker
- Kirkland, WA
- Posts 549
- Votes 411
Did you ever make that offer and get your team together? I'm looking at something in Tulsa myself and so I'm curious how it turned out for you.