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Updated about 6 years ago,

User Stats

47
Posts
8
Votes
Greg Lovern
8
Votes |
47
Posts

Washington State: Getting started with preforeclosure flipping

Greg Lovern
Posted

What do I need to know to get started with preforeclosure flipping in King County, Washington State?

  • I've read all the books I could find on pre-foreclosure flipping.
  • I've read RCW 61.34, carefully and closely and taking notes. I do have some questions about it but I'll cover those elsewhere; I don't want to clutter up this post with that.
  • Am I correct in understanding that if I decide that a house needs, say, paint inside & out, carpets, a new dishwasher and over-the-range microwave, a runny faucet fixed, and moderate landscaping work, I can't do any of that myself, and also can't hire contractors to do it, but must  hire a General Contractor to manage all the work?
  • I've familiarized myself with finding Notices of Trustee Sale at recordsearch.kingcounty.gov and getting the information I need from them and from real estate websites.
  • I'm also able to find Notices of Default (Lis Pendens) at recordsearch.kingcounty.gov, but so far I don't have a good way of converting the legal property description to a street address. Aside from asking the county clerk to look up each one for me (and hoping he doesn't shoot me in well-justified retaliation), is there any way I can find those street addresses myself?
  • After reading all the books on preforeclosure flipping I could find, it was quite a surprise to learn about RCW 61.34 and the General Contractor requirement, in Washington State. Are there any more unique aspects of foreclosure flipping in Washington State I should educate myself about?

Thanks for any suggestions!

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