All Forum Posts by: Aaron Miley

It could also be an option to develop it yourself. Talk about a learning experience. Definitely meet with David Clinton III and pick his brain. I'm sure he'll have an idea of who to contact. Our area is hugely handshake driven and word of mouth referrals. Start getting in on the local REI clubs and you'll meet several folks.

Totally understandable, thankfully it wasn't a terribly long process to get the bank's replies. Lessons learned and I most likely won't deal with short sales again. With the market in an upswing, it's most likely that it would be nearly impossible to get one through.

@Scott Ellis

Thank you for reminding me about this post. Life has been very busy with other projects.

Unfortunately this project fell apart just prior to closing. The agent had told the bank to verify we had cash on hand for this project. We sent out line of credit POF and they ended up countering at more than what was owed on the home. We countered at the owed amount of the home. The bank rejected our offer and that was that.

My agent and I are pretty sure that the seller's agent got involved with the bank thinking we had deeper pockets and could be pushed higher. Mostly because this agent has a history of trying to push higher prices.

It's mostly conjecture at this point, but we've moved on.

I actually am finalizing a deal right now, once I've confirmed the financials, I'll make a second post.

Yes! I am still working on getting a meeting together. I was hoping to have one setup sooner but I've been busy with deals and a full time job. I'm going to follow up with a couple locations and go from there. We may meet up first at a restaurant.

Welcome to BP! Another Spokane investor here! Glad to have more folks around. Let me know if you ever want to grab coffee and talk shop.

Welcome Todd! Glad to see more people from Spokane! Let me know if you ever want to talk shop or grab some coffee!

Hey, just to add to the Kendall Yards and West Central neighborhoods in Spokane, west central is a very economically depressed area. It can be a tough area. That being said, millenials are wanting to be close to the Kendall Yards area and downtown. There is only so much property near downtown so investors and home buyers are buying what they can in nearby areas. If you ever want to have coffee during the week or weekend, I'm happy to meet up.

Just a quick update on this project, title came back clean today and we opened escrow last week. Next will be scheduling and getting hard quotes.

Maybe try a craigslist ad with an address and that you want to buy. Get the person contacting you and don't promise funds or pay for a showing beware of scammers.

Always glad to see some interest in Spokane. We're a hot market right now with very little inventory. So keep in mind that the MLS is not always the best place to find deals here. That being said, I did just pick up a pre-foreclosure off the MLS last week. You have to be fast and bid early, usually sight unseen. A lot of us know our market well enough to do that, but someone out of area may struggle with the values. Spokane definitely appreciates in value just much more slowly and income levels are a bit more mid-western for the state. I have seen a lot of great properties that have usually a 7-12% cap rate. We have a lot of hot areas that are very desirable amongst millenials so rents are sky rocketing. CoC is just dependent on the deal but expect to put 20-25% down on most properties. And finally, I am organizing a local meetup downtown for us more centrally located folks. Currently looking for a decent location and will be shooting for mid August. Thanks and good luck!