Looking for Financial Partners

[Darcy Hocker]

Hello to everyone, 

I am new to the real estate industry and have spent the last year learning about how to do good real estate deals. I am especially interested in wholesaling and fix & flips.

My dad and I created Home Sweet Home Renovations LLC, with the hopes to take his experience in building, and remodeling homes for decades; and my business knowledge, design experience and passion and create a new life for ourselves.

As much as our education over the last year has been beneficial, the most difficult piece of the puzzle for us to find is reliable funding. Our business is new. We do not have jobs. My dad's credit score is in the 700's, but we have been denied loans for lack of monthly income since he retired from his job of 19 years. We are all in on real estate, but we need someone to believe in us. I am in this as a lifelong career, not just a handful of deals, but thousands. I know the difficulties of house flipping, and have worked through them before... they don't scare me. I am conservative in my deals and estimates, always making sure there is buffer room for surprises... which leads to better profits if no surprises arise.

I am smart. I am educated. I am determined to make this business work any way I can.

If I can find the funding or a partner, I can have a house on contract within the week on an excellent house to flip, and have leads on a few others that would make good profits. I live north of Seattle in one of the fastest growing markets in the country. Viable investment houses go pending in hours. The last house I had on contract, I put an offer in with in 4 hours of going on the market and it was accepted the next day. 

Market Info as of March 17th, 2016

Vacancy Rate for Whatcom County is 1.8 and Skagit County is 1.9.

There are currently 243 homes for sale in Whatcom County at a median listing price of $330,000.

Studios                $167,000

1 Bedroom          $123,000

2 Bedrooms        $250,000

3 Bedrooms        $359,000

4 Bedrooms+      $500,000

Overview of Whatcom County Real Estate Trends

Calculated using the last 90 days (Winter)

Median List Price             $359K

Median Sale / List            98.1%

Median List $/Sq Ft          $184

Avg. Number of Offers     1.0

Median Sale Price            $290K

Avg. Down Payment        20.0%

Median Sale $/Sq Ft        $166

Number of Homes Sold   524

[Brandon Beale]

I feel you man. I'm in a similar boat. Only I didn't loose my job by choice. And right now it's a tough time to find funding. My my girlfriend still has a decent income, but her credits not quite there yet. My credits decent but now I no longer have an income. But I don't think that is an absolute barrier to entry! Keep truckin! That's what I'm gonna do. I'll send you a colleague request. Happy investing!