All Forum Posts by: Tristan Rynning

@Zach Lemke @Andrew Postell awesome feedback...thanks guys!

BP- I️ am opening another HELOC on a property this week and was wondering if the loan brokers out there can help me understand exactly how this is effectively counted “against” me in acquiring a new loan for the next property. - Does the entire payment count against my Debt to income ratio? Even if I️ am not using all or even part of the line? - How can I️ maintain the most favorable position for a property loan in the future but continue to utilize equity ? Thanks all!

@Ben Buckley @Timothy Tooker @Lucy DeMichele @Scott Hawley  thank you everyone!   Great feedback!

Aaron, this does sound like an opportunity but the truth lies in your numbers and investment strategy. Personally I️ would hire a real estate attorney to help with that the paperwork and be your advocate...MUCH less expensive than using an agent. I️ too am looking for owner financed properties and this seems to be the best route. PM me and we can swap stories !

@scott hawley would love the contact. I’m having issues with the mobile app...no button to connect or PM?

@Nate Burgher not me, but I️ will definitely suggest it. Thanks!

BP- Does anyone have recommendations for a reputable home staging company in/near Seattle? I️ have a friend looking to list a property March 1. Thanks in advance!

Hey Josh, Jim has some great points above. I️ would add to that by saying you should challenge the norm on how to buy a property. It’s not easy but if it was...this game wouldn’t be as fun. A few thoughts: - instead of 20% down, consider: FHA financing is as little as 3.5% down. Personally I️ would go for a conventional loan which if you search hard enough can find a lender that will lend with only 5% down. - partnering with a sibling, good friend, etc. maybe they cover acquisition finance but you manage/ fix up? - flipping is an expensive business, and you need to have a cushion for unknowns. Down payment, carrying costs, and repairs should all be accounted for. - house hacking is my favorite route; if you can find a way into a house that has a mother in law apt you can offset that new fancy mortgage payment with a tenant. And you won’t see them much. - consider a career move? Not that there is anything wrong with yours, just throwing it out there. Currently this is taking 40 hours (plus transit) of your week when your passion seems to be elsewhere. Work for a flipper instead and take a short term pay cut to learn the business and get long term benefit, and invaluable experience? - there are many ways to skin a cat in real estate. One thing I know for sure is the first deal is the hardest. Good luck! Love the PNW!

Was recommended this group by way of forums...is there another Seattle meet up in th works?

Loved this episode, always cool to hear how BP employees got their start and what niche they have found.

I've always thought that ideally you have 3 places in rotation at any given time...1 that you are in year five or six of ownership that you are looking to sell, 1 that you have renovated and lived in for at least 2 years and 1 day (and have a HELOC open), and 1 you just purchased and are fixing up with HELOC from #2.

Sounds like a spreadsheet @scotttrench could build, with a few assumptions listed...