All Forum Posts by: Jameson Sullivan

The date and location are above. 10.10.19 at 6pm at the address listed. 

Parkland is hit and miss. Some neighborhoods are "cute" some are dumpy. I would tell you there is a lot of opportunity out in that market, but as Adrian said, it depends on your goals. A lot of people do really well in Spanaway in terms of cash flow but they seem to have a higher tolerance to C- tenant types. That's not to say that the only type of asset in those markets, but if you are going to by B class or higher property I would suggest looking in the North End of Tacoma, University Place or even large chunks of Lakewood are nice as well. 

I don't think that there's enough information to make a judgment on price yet. That said, the contract you would need is a purchase and sale contract - anything else would require a RE license. In order for you to earn a fee you would need to put the portfolio under contract and then find a buyer who would pay more than 23 million for the property and it sounds like, admittedly, you don't have the right skill set to be able to handle this properly. Simply knowing of someone who would sell their portfolio doesn't make the deal good. GENERALLY, someone with a portfolio worth in the neighborhood of $23 million knows exactly what it's worth. You likely got the "Well if I were to get $23 million I would definitely sell" which means its priced at a 4.5% cap and no one is going to want it.

I don't mean to shatter your hopes here and I would be happy to talk it over with you if you want over the phone tomorrow, it's just not likely that you stumbled across the 7-figure fee, holy grail deal by accident. 

Back again in Tacoma for a no-nonsense meetup of like-minded people. The name says it all, come meet real people, drink some beers (or root beers) and talk about your real estate business and goals. We are open to all ages and all types of RE professionals. Be you a broker, investor, lender, title, newbie, or seasoned you are welcome at our event. All we ask is that you bring your passion for Real Estate and your drive to use RE as a vehicle to financial freedom! Please don't hesitate to reach out to myself or @Isaac Schaefer directly with any questions about the event. 

Again, this is an all ages event. Feel free to bring a snack or a 6-pack, although it is not required by any means. Look forward to seeing you there! 

Come on out for another great night of networking! Bring deals, problems to solve, business cards and a friend!

Event is BYOB and very relaxed. We will have a short introduction session but otherwise the event is relatively free-form and meant to connect like minded people and hopefully make everyone a little more money.

Feel free to reach out to me or @Isaac Schaefer directly with any questions.

Are there any commercial brokers out there (we primarily deal in retail leasing and investment sales) that use a CRM that they would recommend? We have a few differing opinions in my office, just looking to solidify one!

@Isaac Schaefer

It's that time again! Come out for some great networking, trouble shooting and beer drinking!

As every month, bring some beer, deals/problems you're currently working on, and a business card and meet active RE investors, agents, and lenders in the market.

Feel free to PM me with any questions.

@Dave Skow Nope, it's a conventional loan product. 

@SaraEllen Hutchison Yes, you're right. For an investment property but the thread is about an owner occupant loan. No need for 25% down. It certainly changes the math with what you can afford, but it's not a requirement to have 20 to 25% down if you are to live in the property!

@Dave Skow I'm under contract on a duplex right now in Tacoma and have approved conventional money with 3.5% down... Not sure where you're seeing minimum 15%?

@Tyler Brunette If you're buying this as an investment long term, my opinion has always been WHO CARES ABOUT PMI. If the numbers work with it, then go forward. I personally think it would be a shame to miss out on a number of years of likely appreciation because you didn't want to pay (have your Tenant pay) $220/month in PMI... I understand it represents 10 or 15% of the mortgage and a few thousand a year in cash flow, but I repeat, if the numbers work and your Tenant is covering 60 to 70% of the mortgage, BIG DEAL! Best of luck.