All Forum Posts by: Julian Buick

@Zach Schwarzmiller I talked to one guy that says he is flipping houses in Leavenworth. He's not on bigger pockets. I have his contact info. If you want to talk to him you can PM me. He lives on Bainbridge island so it may have been a one off deal for him in Leavenworth, I'm not sure. 

@Roberto Westerband what @George Despotopoulos is saying is somewhat misleading. There is actually no such thing as a private lending company. If a company advertises that they lend money they are not private. They just made it public that they lend money and this requires a license. A lot of hard money lenders use the term private lenders because they think it sounds more appealing than hard money lender but they are in fact hard money lenders. Private lenders are individuals that lend their own money. I guess technically a person could set up an LLC and lend money from that LLC which could then be considered at private lending company. But if they advertised that they lend money they would need to have a license. Individual private lending rates vary widely, depending on the riskiness of the deal and the sophistication of the private lender.

@Tarl Yarber I'm all signed up. The last 2 events you put on were outstanding. The content and delivery were phenomenal. You really should consider a career as a standup comic. Great time networking. Just a bunch of honest people trying to get stuff done. What an awesome community!!

Every badass investor in the state of washington should attend. Including @Brandon Turner

@Aman Manku John L. Scott also does it. 

@Jeff Studer I'm curious about your comment that the the houses sell for 20-25% LTV. Are you saying that the houses sell for 600k to 750k? (Based on a loan amount of 150k). Are they using a lot of their own money then? if so, that's a lot of skin in the game.

@Rick Meloni @Bob Malecki has a note fund that does exactly what you are asking. It is open to sophisticated investors (non accredited) with a minimum investment of 50k and pays out quarterly. The duration is 5 years though. The window to invest closes at the end of this year so you better hurry. 

@Mathew Keehner what she is asking for is a BPO (broker price opinion). You can find out details about the house from the county website, I.e. How many bedrooms, bathrooms, square footage etc. then you drive by the house and take a look at it. The exterior condition of the house is usually a pretty good indication of the interior condition. Then you pull comps from the MLS of recently sold homes in the neighborhood and estimate what you think the house is currently worth. Most BPO's usually cost about $50. Most RE agents offer this service. She probably got angry because she thought you were just blowing her off.

@Samuel Carmichael I've heard of HML's lending up to 90% of acquisition cost but never 90% of ARV. The max I've heard is 70% of ARV but that would be reserved for borrowers with lots of experience and a track record.

@Chuck Hattemer yes I do in vest in the area. I don't have any rentals but I am looking into picking up some. I mostly do private lending and joint ventures. I'm involved in some new construction in Queen Anne and the central district, rehabs in Bainbridge island, bothell, Spokane and Tacoma plus we have a house in Columbus, Ohio, that we will probably rent out.  Oh yeah and a non performing note in Puyallup. Welcome to BP. I think I heard one of you guys on Marco Santarelli's podcast. Was that you?

@Chuck Hattemer how many properties do you have under management in the Seattle area?