All Forum Posts by: Sherry McQuage

Hello Nandy,

We used the AIO loan to pay cash for the investment property (withdrew the $65k to buy the property), then withdrew funds from the AIO as we bought materials and paid sub contractors.  Once we sold the investment property, we "paid back" the amount we'd used from the AIO...now we're looking for the next investment property to buy.

It was super easy just writing a check to access the funds from the AIO, without having to go through the process of getting pre-approved, providing documents to a lender, etc.  We had already done that to set up the AIO.

When we find the next property, we can jump on it.

Tell people you meet everyday that you're looking for someone to rent a room out to...you never know who has a "friend" looking for a room to rent...do a background check and credit check on them.  There's some good liars out there.😁

Hello,

When is the next meet-up?  I haven't been able to attend the most recent ones you've had.  Looking forward to networking!

The hand tattoos are only a hindrance if you see them as such.  Be proud of your past, be present in your daily life, and make a plan for the future.  As the famous Dr Seuss said, "Those that mind don't matter, and those that matter don't mind."  (or something like that).

You could be tattoo-less, and still some people won't like you.  Learn all you can, take calculated risks, take action, and the hand tattoos might even become your "signature" look.

Yes, let the PM deal directly with the tenant.  This is a business, not a "warm, fuzzy, pull your heart strings" relationship....the PM keeps it professional and not emotionally charged.

Firstly, kudos to you for being so young and already as experienced in real estate investing (I looked at your profile).  Wish I had started when I was your age.

Well, I figured you were younger than I when you talked about sending emails to find off-market deals.  If it was me, I WOULD include an "unsubscribe" link in the emails.  Where do you get your email addresses from?

What has worked better for me (I have never done the email "farming" you talk about), is going on the county GIS for whatever county you are targeting, print out a list (or generate a spreadsheet) of the properties in that neighborhood/area, and mail them a letter.  (You can create a professional, short and sweet letter that has your contact information on it.)

With some time (to print the letters, address the envelopes, and stuff them) you can send out a letter to every property in your "farm".  If you send a piece of mail to all of them, say once a month, over time you will likely improve the response rate.  

You may have better luck sending emails; you may get irate calls, too.  At least with a printed letter, they can just throw it in the trash if they're not interested.

Please let me/us know what you decide to do, and how it turns out.

You have a bright future ahead of you, best to you!

Google "Landscape Designers" and call these until you get someone willing to answer your question.  It may help if you can go to plant nurseries, or talk to contractors/vendors who regularly work with similar situations.  If you talk with enough people, are "nice" and friendly, you will find the information you seek.

Best to you!

Oh, and I've seen a seller accept an offer BEFORE the stated offer review date.  It happens!

Since I'm not familiar with Seattle, FIND A LOCAL ROCKSTAR AGENT in the area, and offer a fee for them to sit and go over the offer(s) and the property you are considering.  I understand about wanting to "win" the property, but it makes me very uneasy for you to waive the Inspection, Appraisal, Title and Financing contingencies (especially the Inspection and Appraisal).

Ok, I just checked your profile...it looks like you are a real estate agent.  If you have the deep pockets to pay cash, are familiar with the area and the property, and have enough $$$ to make repairs (estimate the worst case scenario), and the property checks off most of the "wants/needs" on your/your parent's list, go ahead and make your best offer.

You could also call the listing agent and ask them if the seller has any special requirements that they would really like to see in an offer.  They may tell you nothing, or they may tell you a morsel of information that makes all the difference in what you offer.

Best to you!

Hello Darvin,  I checked your profile for more information, but it's pretty bare.

Do you have a real estate license? Do you have a day job and want to get into investing on the side? Have you done any deals before? Are you planning to fix and flip, or fix and rent (BRRRRR)?

Not knowing much about you or your experience, get to know a few local real estate agents.   As you buy more properties, and they see that you are a possible repeat client, they are more likely to help you with information in situations like this.   

Or, if the property is in a neighborhood, look at homes that aren't fixer-uppers to see what they are valued at. If the property is in a rural area and there's not any properties nearby, look online for "For Rent" properties that are similar to this one after it's fixed up...you can then look on the county GIS to see what their tax value is and extrapolate (guess, estimate) what yours would be valued at ARV. Also, see what finishes are used in the local houses....you may over-improve or under-improve your property.

The more deals you analyze, the easier this will become.  Be proud of yourself for diving into real estate...many people only dream about it and fail to take action.

Best to you!