All Forum Posts by: Tyler Kaye

Wow.  Congratulations!.  I am looking for something just like this.  Looks amazing afterwards.  I can't wait to do the same up here in the Northwest.

I can't speak for Spokane, but it seems that there is a market for anyone in Washington.  "Driving for dollars" definitely can payoff.

@Michael Hassell

Great insight.  I would love to do the same thing eventually.  Something about being the "bank" for others and creating solutions for future homebuyers is incredibly attractive.

If you are sticking with a property manager, they should be able to give you some feedback about the local area.  One way that I have determined volatility in the rental market is to pull up the local property manager's websites and track property for a while.  Specifically, you could narrow the searches down to similar properties as yours.  That has worked for me.

Perfect. Thank you for the response. 

Okay, that was what I was considering, I am just a little nervous about pulling the trigger being out of state.  However, could you please explain the first lien position a little further.  That is new to me. @Scott Schultz

 I would love to go, but I am currently deployed overseas.  If there is another opportunity in the future, I will definitely do my best to make it.

I am looking at purchasing out of state.  I live in Washington and have a buyer with a property under contract in Wisconsin that cannot get financing.  Is there a way that I can purchase the property with a contract for the current "buyers" to gain ownership after a note that I would hold for them?  Or a different structure that I can pursue.  I have cash to finance the property and at the local rental rates, it should cash flow right around $175 dollars a month.  The property does need some things, of course, but is bank owned and they want to offload the property because they have had it for over a year.  Really, I am just not sure if we can make this happen or how to do it.  I have done two deals in Washington, but neither was done with a "creative" strategy and were pretty cut and dry.  I tried searching for possibilities on the site, but ended up in a deep circle with no clear way to go about this.  I am in contact with their agent and working with my lender to determine a possible approach.  Thanks in advance.

I would love to be a first timer at this.  Nice work on putting this together.  

Welcome!  I have two deals under my belt in Oak Harbor and looking to expand. We should meet up when I return from DET. Maybe even get a group together!  Again, welcome to Whidbey.