All Forum Posts by: Susan Grinde

Oops,I made a mistake in my numbers. Our buyers would get a loan for $180K from a bank and we would seller finance the balance of $70K (not $170K). This way we could take the $180K to invest in two houses out of state (probably through a 1031)and still be getting income from the seller financing. Does this deal look OK or am I missing something?

Really quick scenario...

I have a home we purchased in 2009 for $123K cash, rehabbed it and have been renting since 2010 for $600/mo cash flow. Seller's market in Wenatchee, WA and can list to sell at $250K. My current tenants want to buy it, but can only qualify for $180K. Can I work a deal where they get a loan for $180K and we do some sort of personal financing between us that they pay back the difference of $170K (so we continue to cash flow about $500/mo)? If so, would we only pay capital gains on the $57K ($180K-$123K)? Actually, we would probably put into 1031 since we can buy two houses out of state for $185K. Thanks for any insights!

Hey Sarah,

We will be in Butte around May 15-30th. We need to meet up for coffee or lunch. I would love to find out who your team is as we are looking for plumbers, electricians, etc to get a rehab done on a alleyhouse behind my son's main home. Only about 600 sq ft, but he will live in it while finishing his Masters Degree at Tech. PM me if you know some of the trades that can help us out.

I love your enthusiasm for Butte. So exciting to see those homes that have fallen into such disrepair get that second chance. We share that same passion and are looking for another project to invest our time and money into. 

I hope to meet you and your husband in the near future.

Great advise to read it over and over again (I guess my dog is not a motivated seller as she just went back to sleep and ignored me).

Thanks for the encouragement. I need the occasional gentle nudge to keep me going down this road of real estate investing.

Wow! That is a lot of questions and a bit intimidating for this newbie (maybe I am being squeamish and need to continue with the MLS to find other properties).

(As I am writing my response I am beginning to think that I just need to dig in and stop being squeamish! I am going to just do it. I will put together a form with these questions on it and a place to write in the answers so I will be thorough and organized. What have I got to lose?)

Since I am interested in Buy and Hold, and the questionnaire seems more directed to Wholesale, would you use all the questions? 

I have gotten my first deals from the MLS, but have noticed a few neglected homes while driving around my hometown that I want to send some letters to. This is my first attempt at generating leads in this manner and I wanted to have a kind of script in place if I get any calls back. What questions are good to ask and what are helpful tips for talking to potential sellers? What is the best way to sound confident and professional?

Any recommendations from the BP community for a real estate investor friendly CPA in central WA area? 

I have finally committed to making real estate investing a business instead of a hobby! Now that the light has gone on, I am trying to get some systems in place and getting more organized to make things run smoothly.

I have a couple of rentals near my residence in Washington state that I have owned for a few years without any headaches. Thankfully I have gotten some great long term tenants, but as I said, this has been more a hobby than a business.

I am now investing in college student rentals in Montana where my son goes to school and am also looking at a rental in Florida that my mom can house hack in (if I can convince her of the benefits!).

Anyways, it got me thinking about the different tax laws and landlord/tenant laws and I was wondering if people who own rentals in different states need a CPA and an attorney for each state. That could get expensive. Anyways, any thoughts?

Hi Chris,

I will be in Butte a lot this summer as we are rehabbing a small alley house near Montana Tech. I was thinking about starting an REI group in Butte. Right now I am just finding out if there is any interest. How did you get yours started? What do you do at your meet ups? Any pointers on how I can start one?

If we find that we have time to head to Helena this summer, we will try to get to your meetup on one of the Thursdays. I look forward to meeting you and your members.

If there is any interest in a REI group in Butte, I might be interested in getting one organized. Let me know what you think!