All Forum Posts by: Allison Medina

Wonderful @Tom G.!! Thank you so much. Unfortunately that Tacoma deal came and went quickly, which in some ways reaffirms my belief it was a steal with huge potential!! I am definitely going to call you though. Thanks again! 

wonderful advice! Thank you @Chris T. ! That IS a brilliant idea to run the deal by the HML!

I'm encouraged to hear about Tarl and Nathan. I will be sure to somehow connect with them as I can't seem to tag them in this post! Thanks again guys! 

Thank you @Alex Chin! I sent a message to @Tarl Yarber to hopefully connect. I've also heard good things about Veristone Capital. My caution is that I am a bit intimidated by using hard money being so inexperienced. I feel like maybe partnering with someone more experienced may be smart for the first couple deals. Even to just shadow someone would be good! 

I have my broker's license and it is wonderful to have. I can run comps and view properties immediately without having to wait in another broker. It will also be beneficial once I start doing deals in that I can negotiate my commission and do my own transactions which will save me thousands. It also helps me understand the market better than the average person. I found a great private brokerage that allows me to do my own thing... No quota and I retain 100% of my commission. Keep in Mind that there are some costs involved with becoming a broker. In addition to the cost of coursework and the state exam, you'll have a monthly brokerage fee and a transaction fee per closing. You'll also have to pay to be part of the MLS and to rent a key for the mls keyboxes. I only mention this as I wasn't completely aware of all the costs.

I'm a broker and have already ran the comps,  and have looked at the property. I'm going to go through it again with a contractor to get a better idea of the rehab costs. I'm a newbie investor though, this bring my first potential deal, so I want to be very sure I'm doing my homework. I will make sure I have all the numbers before I approach anyone. Frankly though, I really don't have anyone to approach. Ha! Still trying to network. 

I'm *not sure is what the above was supposed to read 

Sure! It's a 4bed, 1 bath craftsman built in 1903 in need of extensive renovation. It's listed at 309k (bank owned). From my research, comps are high 400s-mid 500s, with the house right next door with a very similar floor plan selling 4 months ago at 500k. We would need to add at least 1 full bath. This would be our first flip so I'm sure about how much the Renno would be but I'm assuming somewhere in the 150k range. We may have a couple contractors meet us out at the property in the next day or two to get a better idea of what we're looking at. I wouldn't mind even partnering with a more experienced investor... I really think it's a great deal with huge potential. It's ok one of the best areas of Tacoma- the North end, Proctor community. Would love any feed back. 

Any Tacoma, Washington investors out there that I can run a deal by?

Have any of you purchased a short sale where you had to pay the 20k bankruptcy fee? That's a huge turn-off for me. I'm looking at two potential investment properties, both short sales, one sitting on the market 250+ days, the other 450+, both have buyers assuming the 20k BK fee, to be paid in cash at closing. Is it laughable to make an offer negotiating that fee?

I have heard that private lenders, or hard money lenders will want to see the specifics to a property prior to them lending cash. Then I have also heard that you should have your financing in order prior to finding properties. So which one is MORE true? Thanks!