All Forum Posts by: Greg Harriman

@Ryland Taniguchi When you use the term partner are you referring to a person that you've done multiple deals with and continue to work with? Are you willing to divulge what type of role they've assumed versus your role? I've never had a partner and I'm curious to know if there's a distinct role that partners take in REI situations. I, myself, am a CPA and business-minded person with solid funds to put forward and I've also been a buy-and-hold investor for about 10 years now. I work a full-time job but would like to spend the next 5-10 years studying hard and learning more to put myself in a position where I can invest wisely (and be diversified, of course) in real estate. My close friends have plenty of money and drive but REI doesn't interest them. I'm not a huge stock market person myself and I prefer to limit my equity positions to 35-40% of my overall net worth. Like you, I'd also prefer to not be the person who does 95% of the work and I know my personality would push me to do that if it were necessary.

Grab a quarter. Heads = Bust (like George Washington) your butt to save and pay off your existing debt. Tails = Spread (your wings like an eagle) yourself thin and take on more debt to buy more properties. But really, I think it comes down to where you think we are in the market cycle. If you think it'll continue to appreciate, then buy more. If you think it'll slow or depreciate in value then pay down or even sell. In the end, your goal should be to conservatively get to an attainable number (whether its net worth or monthly net cash flow). Don't get greedy because that will lead to destruction and you'll end up back at the start.

I may be interested too. I am a native Arizonan from Gilbert but have been in Bothell a little less than two years. I still cheer for my Cardinals though!

Tom CARROLL I think it's awesome that you stuck to your guns and your numbers. Your realtor will likely say things to appeal to pity and attempt to push you into making a deal. The reason? It is the only way they get paid. But in the end, you need to stick to your numbers. Either the seller will come crawling back to you or someone else will come along and buy (someone who is willing to take more risk than you). You should never chase a property. And let me be the first to say, good for you!

Congrats Daniel Toshner ! I noticed on your profile it says you invest in Indy and KC and I'm curious, has it been difficult to manage remotely? While I'd like to consider that type of approach it's hard for me to dive in. I self-manage all my investments and feel like the better return in other cities would be more than eaten up by property management and travel costs.

Daniel Toshner at first glance it would appear that that is an artificial limit based on the jumbo loan threshold, however, if your primary is in Seattle, the jumbo loan limit is much higher than that. I'd recommend shopping around and seeing who is able to meet your needs at the best price. I've used a handful of local lenders and have a favorite but I have no idea what their terms would be for your situation. Best of luck to you with your search!

Hi Lacey and welcome to the BP community!

My wife and I are in a very similar boat to you and your husband in that we own 5 properties (3 of which are in the Seattle area and 2 others in Arizona).  We moved to Bothell from the Phoenix area and along with it have acquired additional investments along the way.  I have always saved up enough to put 25% down on a property and never attempted to use HELOCs or other creative financing in order to get into a property.  I'd like to think I'm fairly driven and take calculated risks but at-heart I'm a very risk-adverse person.

I'm curious to hear, what are you looking to learn from BP and what are your end goals?  I think knowing that will help you develop a gameplan and determine whether or not that goal is something that's obtainable by acquiring more real estate locally or having to search elsewhere.

Best of luck to you and your husband!

Hello BP-ers,

I'd like to refinance a single family residence I own as an investment in Arizona and would like to ask if anyone can refer me to a bank that offers Portfolio Loans (because I currently own a total of 5 homes with mortgages on them) in the state of Arizona.

I reached out to Caliber Home Loans and they can offer me a 15-yr fixed note at 3.875% through Washington Federal but I thought there may be another option out there with better pricing.

Any helps would be greatly appreciated!  Thanks!

Ryland Taniguchi just curious, what type of commitment are you looking for when you say part-time? And also, what type of assistance does your CFO need?

Corey Smith I ran into some issues when working with the large banks but found a guy at Caliber Home Loans who matched my needs to Washington Federal's portfolio loan program. As with most other lenders, on investment properties you'll need 25% down and have a 0.5% premium on top of the average rates. Hope this is helpful! If you find a better option, please let me know because I'm hoping to buy another property this Fall.