All Forum Posts by: Nathan Harden

 Seattle is very expensive. Have you thought about looking just a little South in Pierce County? Cheaper but still has the rental demand. Plenty of areas around us, just comes down to how close/far you want to have your in state rentals to you.

So you don't have a current lease agreement in place..?

Seattle is tough enough to be a landlord in, not having an up to date lease agreement is essentially just shooting yourself in the foot.

 That is a problem for future you. A great problem to have. Buy the property now and deal with that later. There will be new comps in 5 years to go off so deal with that when the time comes. 

Wow Matt, sounds like you're in a bad spot.... LOL Not!!

You're crushing it man. It's good to have these problems, I would rather have too many leads than not enough. All you are doing is adding more tools to your toolbelt by expanding your skillset into wholesaling.

This could lead into you doing your own marketing for off market properties and instead of buying from a wholesaler, you are setting yourself up to buy direct from the seller.

I think that the 2 most crucial people starting out will be your lender and realtor. The reason that I say these two is because you are going to need a lender on every transaction (except for creative deals).

Also, an agent will be the one to open doors for you as they appear. Get a good agent though. Someone who understands investing and has their hands in the off-market properties as well. 

But Nathan, why not a contractor? A contractor isn't always crucial if you are just starting out. You may be looking for turnkey or just light cosmetic fixers to get your toes wet. Small projects to start out are the way to go, don't bite off more than you can chew. Those first few properties, everything you need to do (turnkey or light rehab) will all be on Youtube University if you aren't sure how to install floors, paint, fixtures, etc.

I love it. This is a fantastic post. Precise and straight to the point.

When structuring your seller finance deals for the tenants, what terms are you offering to them?

You're going to need to reach out to the people you know for a potential partnership.

Remember, this is also only a 4plex so you are still able to only put down 3.5% -5% if you house hack it. Might be a good way to get your foot in the door, not having to partner with anyone, low downpayment and a cash flowing asset. 

Your numbers are off. No property Manager will ever manage a property for only 2%.

You love Real Estate??? Well Eric, you're in the wrong place..... 

HAHAHA Welcome!!

It sounds like a solid investment, shoot. You even said it yourself, "The house looks good from an inspection perspective and it satisfies what I wanted from a house."

Don't get cold feet. If the inspection is good and the numbers work, take it, get experience.

As for the garage, do your comps have garages? Would your numbers still work if you were forced to build a garage?

Sprinkler system? Easy fix and should not be a deal breaker for you or the buyer that buys after the flip is completed.