All Forum Posts by: Jeff Hornberger

Hey Henry, I’m from Spokane. You’ll want to use a normal PSA. Assignment addendums are not needed. Stephen ford does them all the time. But I’m not sure if your in Spokane or not. You’ll want to find an attorney that knows what your trying to do for sure! Good luck! 

If your looking for a rental property in Spokane Wa at the 1% Gross Rent Margin and yet has tons of immediate equity and upside in appreciation then look no further. The link below has pictures, a video, and comps. The home features 2 beds, 2baths approx 1400 sqft, newer roof, aluminum siding, sprinkler system, detached 2 car garage with alley access, fully fenced back yard, covered patio, W/D on main floor, full basement with plenty of room for a 3rd bedroom. 

This will be sold via assignment of contract | Buyer pays all closing costs, seller pays excise tax

https://mailchi.mp/40ce75fca8d9/wholesale-great-re...

Yea we manage quite a bit in that area actually. Hard to say how many but more then 25 for sure. 

Hi Levi, my name is Jeff Hornberger with Homeland Property Management, we run a property management company in Spokane. I'm not sure if you tried calling us but feel free to reach out to me directly anytime. I'd be happy to answer any questions you may have. 

Jeff Hornberger 

I'm following this discussion as I've never heard of RUBS. Is this simply a method that is used and tenants are charged accordingly or does a company come out and run an analysis? How are they paid if that's the case?

Hi Debbie I'm a residential property manager in Spokane and our attorney has done a great job for us. His name is Thomas Mcgarry. Another good one is Eric Stevens. You shouldn't have any issues finding their numbers off google as it won't let me post them here. If you need any other help or need forms I'd be happy to help! Good luck!

Hey Biggerpockets fam. I am a real estate agent and investor in Spokane WA. Both as an agent and investor I am in big need of a spreadsheet that projects income on a given property year over year. I have a spreadsheet that gives a great "snapshot" at what cash on cash could be and what the cap is but I don't have anything I can present to clients or use for myself that will project multiple years out.. This could be helpful if the property needs a new roof or windows etc. Any help on this would be great!!

Rudy Manna Jacob Wyatt Spokane can be a great place to invest. There are things you should know in regards to utilities that will effect your cash flow based on the areas of Spokane you buy in. If you purchase a duplex in the city more then likely you will pick up the tab on W,S,G however if you buy in the valley or parts up north water expenses are reduced tremendously (like only $25-50/mo vs $100) and sewer and garbage can be paid by the tenants. Vacancy rates are very low, I manage 150 properties in town and own two duplexes myself (currently house hacking). Rents are increasing big time. MLS cap rates are around an avg of 5.5-6.5%. Not great if you ask me but off market deals and being creative is where you benefit the most in this hot of a market. Feel free to reach out if you need help in finding something or just want to chat about the opportunities Spokane can offer. I specialize in finding off market property for investors and frequently have a deal to pass on to investors I know. Always happy to help, good luck!

great advise guys thank you! I agree with you Wayne that was another concern of mine. FYI I'm also finding high equity absentee is so heavily hit by other investors that i think after this campaign I want to switch it up. Possibly only mail to people with "problems". Finding a lot of people that are calling me have no finically strain or "motivation" so that's not easy. Do you guys mail to high equity absentee? I feel like there's a lot in my town but they have no motivation. My other fear is being to narrow searched and have only 600 to mail to. Ugh decisions decisions!!

Hi BP friends! I was hoping to get some criticism/advice/input on my letter I'm sending to high equity absentee's. A little background about myself. I've been a realtor for a bout 8 years since I graduated high school. First purchase was a duplex my wife and I lived in and now we are living in our second duplex. Over the years I have wholesaled a few properties I got under contract by chance and have flipped a handful of properties with family. My wife and I decided we want to start a RE investing business full time

and so we are starting various campaigns etc. My goal with this letter was to set myself up in a way that would allow for a chance to possibly list the home for sale as well as wholesale it. We sent out 2000 letters and have gotten close to 20 calls so far. I feel good about the calls but I'm not sure the letter is doing me favors in terms of wholesaling. The majority of calls I'm getting are from people looking to see who the buyer is and of course wondering what we're willing to pay. Was hoping to get some opinions on this letter. Before I send another 2000 I'm wondering if changing up the letter to say "I'm looking to buy" would that set me up better? Again I would like to list it for them if possible. Maybe I need a good script..... Any suggestion? Thanks in advance!!