All Forum Posts by: Ryland Taniguchi

I think good advice for any business associations is walk before you run. BP has no filters. Start working with someone small on a wholesale. I usually only loan to proven and reputable flippers and builders and stay away from loaning to less experienced investors. I don't even wholesale to newer investors because a good project can go wrong with the wrong execution and then I end up being the bad guy even if it was a good deal.

You need escrow and title as soon as you sign the purchase and sale to deposit the earnest money. Have your lawyer draft up the assignment contract with escrow instructions for the wholesale. 

Originally posted by @Ariel Salenga:

Hey everyone, my name is Ariel and I'm a fairly young new comer to the real estate business in Seattle, WA. 

I've taken Rockwell Institutes Real Estate Course at the beginning of 2015, and just recently turned an interest in RE Wholesale (Which is initially what brought me here to BiggerPockets). 

I hope to fit in well with this community and I'm looking forward to speaking with you all.

- Ariel Salenga

 Welcome to BP. I wholesale a lot of deals here in Seattle. Feel free to contact me if you have any questions. 

price the hard money into your analysis. Leverage will improve your cash-on-cash return. Would recommend starting by JVing with an experienced and reputable flipper fhat will show you the ropes and get you 20% return on your half of the JV.

Listsource has a lot of wrong information. Pick a zip code or area and walk each street. Drive around it everyday and look for anything vacant, ugly or tear downs. Get the list source in your target area. Get the expired and cancelled and FSBO list for your zip.

Originally posted by @David Jam:

Hello, getting started in REI, interested in flipping and cash flow. Located in the Seattle WA area would like to network and learn.

I have a construction background and have been to a few 3 day introductions on REI.

Would like to get started and build income ASAP 

I don't know what I don't know, so here goes....If you're in the Greater Seattle area lets network.

 Welcome to BP. Lots of good people here. 

Originally posted by @Dmitriy Fomichenko:

Mixing investments with life insurance is very poor financial choice [IMHO], those policies are mainly designed to benefits sales agents and companies who sell them. A word of caution to readers: if you are considering something like that be sure to do further research and read opinions and studies or independent parties (many studies and marketing out there is by companies who sell those products and are biased and you have to exercise discernment to sort out that junk). 

P.S. @Ryland Taniguchi I don't have any intention of engaging in a debate about this topic, since you've mentioned in unrelated topic I just had to give my two cents. 

 Not really a debate. I had the exact same paradigm as you 6 years ago. Most life insurance is a rip off especially variable life. I think most investors think the same way.

I was biased about life insurance to I was around my 60th real estate deal and it has helped me do more real estate particularly in the niche of working with private money investors who want to invest their cash value in their life insurance. 

If you prefer to pass on this topic like most RE investors do, less competition for me. Just trying to add some outside the box thinking for creative investing.

I am a Keller Williams agent and started a team of 8 agents and sold 152 houses in year two. If you want to be a realtor as a business, Keller Williams is the way to go. However, I am also one of the busiest wholesalers in my area. I get the sense that the Keller Williams doesn't like that I do mostly off-market because they don't sell units in those. Kind of silly mindset to me as these bring tons of business like new construction and listings from flips. My experience is that the world of realtors and the world of wholesalers/flippers are too totally different worlds. Being around realtors can push your mindset away from investing. Pick an investor friendly brokerage if you want to focus more on investing. In a nutshell, Keller Williams is great to build a realtor business (I make good money with it) but not the most investor friendly type of place. Ironically, Keller Williams wrote some great investment books such as Millionaire Real Estate Investor, Flip and Hold, but my experience is that the big name brokerages look down on wholesalers and flippers.

I met someone that told me they bought all their properties online. Besides Homesearch.com and auction.com, anyone know of other good auction sites to buy properties at?

Originally posted by @Neil J.:

Hello my real estate family,

Is the "65% of ARV" rule engraved in stone? Should I not waste my time on a seller or "motivated seller" that is just not budging on the extra 10-20k I need to make the property meet the 65% of ARV? Should I not have them sign?

I would just like to know how serious these numbers are to most cash investors.

Any inputs or opinions welcome!

 You need to talk to cash buyers and other buyers and find out what they want. As a wholesaler, you are getting people what they want. 

Also, I have gone as high as $20 k EArnedt money in Seattle (Prices average around $500 k) if I want to lock down a great deal. In comparison, I may go $100 if it's a marginal deal like 15% below market value.

Finally, depends what buyers you have and the market. I have a "realtors real estate team as well and we have many retail buyers. The issue with wholesaling to retail buyers is that you can't get traditional financing these days on an assignment contract. So what I do is I take a 6% real estate commission instead of the wholesale fee and do it like any other FSBO transaction (not a pocket listing which we can't do in Seattle as a realtor).