All Forum Posts by: Lorin K.

I had one prospective partner started to become a flake "would not even tell me the vehicle he was driving before and canceled the show up" I will not except direct request by a investor who is interested in properties in western Washington. I am looking for referrals who have done deals with investors and need to prove it..I been burned on words only in the past. 

I have seen SWEET deals fall though my hands because I was not qualified to buy... Example, NICE home in Enemclaw. Electrical and generator ripped out "it was a hideaway house and pre damage pics were VERY nice. House value 220k. The owner sold the house for 98k and lived out of state. It also included a second house!!!

Thanks much!

I just went to a Bigger Pockets Gathering in Renton. The main speaker lives in Issaquah but most of his real-estate holdings are in Yakima. I am looking for investors in the Federal Way to Dupont region. 

Those are some amazing numbers. Anyone here live in eastern Washington care to speak up? I hear Kentucky, Missouri and Tennesse are good states. Land is cheap in these locations. 

I do not think properties like this exist in the Seattle region. If I ever relocate what would be the best state for maximum rate of return? is the normal 1.5-2.0  percenters assumed to require the owner to manage and maintain the house?

A empty house that has been vacant for over a year. From the outside, it is in excellent shape. I was just driving down the same street and inquired from a woman on the house and she provided me with a accountants name. If this was a estate shouldn't this house be in control of a attorney? The house is in Tacoma Washington one of the hottest real-estate markets in the United States. 

I have an Oregon property owner who is in the hemp industry and extracts the oils and sells them pharmaceuticals that sell the oil to cancer patients.  The owner needs private money because the original owners took back a first owner finance contract and promised him to extend the balloon payment in the near future. Since then the owner's have died. The daughter inherited the original loan and she is unwilling to negotiate a new contract that would extend the balloon payment into the future. The owner of the property wants to obtain private money to pay off the existing loan. 

So what I need is a checklist or spreadsheet that he can fill out that would provide all the details of the property. Also, based on what he informed me of the value of the property "three comps" vs what the loan amount is required to pay off the loan I calculated it at 78%. If someone can present me with a checklist or spreadsheet asking the borrower all the details on the property then I email it to him. He is also willing to pay me a finders fee so I will need a finder fee aggrement sheet that he needs to sign. 

Since this is the first time I am finding a lender for him based on a finders fee, would he need to sign it at a attorneys office then notorized first before I present him with some lenders from Bigger Pockets? 

Thanks 

I am a bit fascinated by the many heat maps that exist when doing google searches. I was curios when doing a search online what states or counties had the most home owners. Does this suggest that most of California homes 60% or less are not owner occupied? 

What does this chart tell us? that perhaps in North Dakota Mean income exceeds the mortgage value by 2/3 this most local residents do qualify to buy a house?

How about the national cash flow heat map? Look at florida! a high cash flow state? Where I live, most of western Washington specifically the Puget sound has a low cash flow due to the shrinking 1-2% properties. 

http://www.realtytrac.com/news/heat-maps/rental-returns-and-cash-flow-heat-map/

 What if the owner is not occupying the property or it is a investment?

I receive his emails and glance though them regarding the next deal that was purchased. The most recent purchase was in Chicago. I will post what I was reading about this sale, and how I feel there is some dishonesty in this article. 

What the hell is a ESTIMATED profit of 72,505? That is NOT a estimate but a true resale value. BTW, I need to see the actual sale price...and TIME ON MARKET before I will ever believe these stories.

Welcome to the most litigious country on the planet. Lucky the guy did not rip out the electrical panel.