Newbie in Sumner, Washington

[Randy Fuller]

A friend introduced me to the Bigger Pockets podcasts and I have just listened to the 82nd podcast in 3 weeks time. Lots of good information and very motivational, which prompted me to buy a sub-division already developed in Idaho, that we have started building 3 houses on and hope to sell or rent out the houses in the next 6 months. Once these 3 are completed, we will start building the next 5 (purchased 8 lots). The only thing we did was provide the cash to buy the property as well as provide the cash for building the houses. We have found a good partner for this deal, however, we are wanting to invest more locally (Washington State) so we can be part of the process more and be engaged in a more desirable market.

We are most interested in partnering with flippers or those that remodel/renovate single family property or duplex/triplex/quads, however, I am not opposed to branching out. I still have lots of questions and have been reading every book that has been talked about in the "Famous Four" to further educate myself but need to establish connections and hope to gain advice on these forums as well as attend networking events in the near future.

Eventually, I would like to get into buy and holds, however, this seems a little advanced right now and is a little more complex. That being said, being a resident manager as well as the maintenance manager for 5 years over 3 apartment complexes in Sumner, I have gained a good understanding of land-lording and am aware of a lot of the intricacies that take place and the hard work that goes into managing these types of properties.

All this being said, we hope there are more local REI's that we can partner with and help fund those those jobs that will give our partnership the best ROI. Look forward to any helpful feedback.