All Forum Posts by: James Bing

I'm looking to put in a DADU in Seattle. Not really sure where too start on getting quotes. Has anyone built a DADU in Seattle before? Or have any referrals for contractors?

Thanks, everyone. I wasn't really familiar with REIAs and wasn't aware of the prevalence of FB groups until now. Looks like there are some active REIAs in my area, so I'll try to start getting involved with those, in addition to keeping an eye on FB.

Hello all,

I'm a boring buy and hold investor and I've always bought on-market homes. I'd like to start looking at deals from wholesalers and doing some light-BRRRRs. No interest in finding my own leads for off-market houses, so I'd rather pay a finder's fee to a wholesaler than going down that road.

I'm looking for advice on finding credible wholesalers to work with. I've reached out to a couple I've found online but they were unprofessional and didn't inspire much confidence--and then they didn't have any deals. It's pretty weird to get a sales pitch from someone who doesn't even have something to sell. 

There seems to be a lot of  advice out there for people getting into wholesaling, but I can't really can't find much guidance for buying from wholesalers. But all these wholesalers must be selling to someone.

How do people connect with credible wholesalers? I assume most have a list of buyers that they market their houses to but I'm not really sure how to find my way onto the right lists. Seems like it shouldn't be that tough to get someone to take my money.

Any advice would be appreciated! And if you're a wholesaler in the Seattle area, feel free to reach out and connect.

@Julio Medina I'm in a similar situation, but a few years ahead of you. When I started in my mid-late 20s, I invested in Seattle proper. Hasn't been a 1% rule city in my lifetime, but it was possible to find cash flow on a turn key property with 20% down. These days you can still find more respectable cash flow if you look in south King County and Pierce County.

I've gone with a hybrid approach and look at my portfolio as a whole. I get enough cheap out of state properties to give myself some cash flow, allowing me to afford the mortgage payments on a couple houses around here--keeping some exposure to the Seattle area's potential for appreciation. It also makes things a little logistically simpler for financing to have big loans on the Seattle properties and use cash for the out of state properties. Even if the Seattle properties are cash flow negative on paper, it offset with cash flow from elsewhere and my portfolio is balanced. I essentially think of my Seattle properties as the bank. Is this a scientific approach? Nope. But it kinda works for me and I get the warm fuzzies knowing I have some diversification.

Also, if you're 27 and have an income allowing you to invest in real estate, I'm guessing you work with some other 27 year old looking to park some cash somewhere as well. You could think about teaming up with your buddies if you want to invest locally.

@Brandon Greenplate 

Do you manage your STRs in Hilton Head? I haven't gotten serious yet and don't have a local agent, but I have been window shopping and may reach out.

Hello all,

I'm an out of state investor picking up a few single family properties in Birmingham. Boring long term rentals.

Does anyone have a recommendation for a PM in Birmingham? Because I'm out of state, I need a company that is full service and can help handle maintenance (which I know all PMs should do, but as a practical matter...).