All Forum Posts by: Kai Van Leuven

@Todd Powell

Are you an OSU Wrestling guy? My wrestling partner in HS wrestled there on a full ride.

@Amy Miller

Wrestling- it’s a hard sledding grind. At times you don’t know if your work will pay off but if you keep going keep your head down and fight it pays off.

Also;

Individual Sport

More to do with work ethic than natural gifts

Even if you are ahead, you could lose in an instant (pinned)

I have wrestled my entire life and am a head wrestling coach. By far the activity that has taught me the most about “life” and I carry with me every day.

@Peter T.

BP pros and cons

Pros:

Differing perspectives ideas

24 access for Real Estate Junkies

I get something out of every podcast. Even if it’s just what the masses are doing and I do the opposite

Cons:

Too much groupthink. Newbies trust and regurgitate information.

Too much emphasis put on scaling and not quality of purchase

Profit motive: Too many posters want to leverage the site for self interest (turn key, lenders, agents). I understand the motive but I think it is annoying.

@Serena Tillman

This is a great question. There are many on this site who would buy a poor investment, in a bad area, that will never appreciate and think they are great investors! Lol. They will use small numbers to justify COC and other useless metrics.

I buy in an expensive area where the calculations are a little different. This is what I look for.

1. How much equity can I have in the property at the end of it?

2. Will it positive cashflow at the end?

3. Is it in a good area where rents will increase?

4. What will this area look like in 30-40 years?

It is the road less traveled on BP but the way to actually do well in real estate!

@Matt Nico

Is have been there before with being rejected by lenders and approved by others. Each bank has different “overlays” that change their criteria. The more overlays the less risky the lending and higher the rate, in theory. I try to look for a company that is the least restrictive and “keep my eyes half closed” on rate.

This could have been the most frustrating part in the beginning. There were many deals that I had to pass on because the/a lender was not running at my same speed. Good luck!

@Chrystian Tapia

I like you me attitude man. I have made mistakes with people and you just have to move on. What I do is pretty simple. I follow all of the state notice laws at the same time as a “cash for keys” drop dead date. That way I lose no time in getting them out.

This is for Washington but this is what my timeline will look like.

1st of the month: issue 14 day notice/ negotiate a cash for keys for the soonest possible

15th day: do Summons of complaint and other paperwork.

Some questions:

Tenant: don’t you trust that I will be out?

Me: of course but I have to run this like a business. If you were in my shoes you would do the same thing.

This way you really get the best of both worlds. If they leave great! If not, you lose no time.

@Corban Anderson

I am investing in central Snohomish county (Everett, Lake Stevens and Snohomish) and south Skagit. Mostly I am buying in my neighborhood SFR in Snohomish.

@Corban Anderson

The Puget Sound is the best area to invest. As many others have said, the City of Seattle and City Council is very much against landlords. You could not pay me enough to invest there.

I invest up North and love it. It is a different model than what is touted on BP. You have to be an equity buyer that is fine with small monthly CF. Especially in single family. Multifamily could be a good avenue but you have to find a diamond in the rough. I bought a few years ago a 12 plex that I stabilized at 23% cap, lol. They are out there but not all the time.

@John Barrett gave some good advice. I enjoy reading his stuff and think it pretty good time tested advice.

@Greg M.

Lol, touché. I always wanted to be a state rep... maybe I will hit that by 50, lol.

@Nikki Closser

For some reason this post strikes a bad cord with me. So I will ask a few questions.

1. Are you a part of the WLA?

2. Do you run your screening through the Washington Landlord Association?

3. Do you pay into the National Association of Realtors?

4. When the Washington House and Senate is trying to change the laws do you write into your state reps?

I can answer yes to all of the questions above. Unfortunately there are too many in Washington/Seattle who don’t do the same.