All Forum Posts by: Jeff Ostreim

@Julie Marquez @Eddie Aviles Looks like Thursday won't work for me. Does Friday work?

@Julie Marquez if Wednesday doesn't work I can probably meet Thursday, but 545 would make it a little easier for me.

Welcome @Justin Lee. Deals are relative. There are deals to be found in any area. On the West side of WA prices are lower than in neighboring counties in Skagit, Grays Harbor and Cowlitz to name a few. My advice is to listen to some podcasts, see where they take you. Then get to know markets you would feel comfortable investing in. Good luck!

Originally posted by @Carlos Zapata:

@Jeff Ostreim what is your idea after you close the deal, what was your exit strategy?  you may get good cash flow but maybe you can make more if you reposition your money in a bigger deal 

@Carlos Zapata cash flow is the idea for the apartments.  I could refi from another property at the end of this year to use for a bigger deal. 

@Elizabeth Jackson do you have enough equity in the home you live in for a HELOC to finance the deal? Otherwise you could consider partnering with someone.

@Grant Rothenburger thanks for the advice. I am intrigued by holding the note but like you say it is cash flowing. Maybe I should just be content with what is coming in regularly and refi when I am ready.

Julie Marquez I work in Anacortes and usually am driving through Mt. Vernon around 530 on my way home. Maybe we can figure out a time next week?

Good points Jeff. I have considered doing a cash out refi. I have a mini storage facility and it is less effort and more profitable. I like the idea of being the bank and holding the note for the apartments. Then using that money for future investments.

Form an LLC. It will provide you the anonymity you are looking for and it will minimize what a tenant could come back on you for if there were ever an issue.