All Forum Posts by: Aaron Morrow

I am closing on a house on the 23rd. Whats everyone's vote on continuing with the purchase of the house? I am buying it as a 2 year investment property and to build a large addition? I am so pissed because I waited and waited and waiting to time the market. And I finally said wow I need to get off my butt this never going to slow down, and then this crap. I would forfeit my earnest deposit but I think I am more comfortable losing that than waiting possibly years for values to come back. I locked in a great rate but more than likely I probably already have negative equity.

I second this. Great advice, Trevor!

Your first mistake: trying to time the market. Of course timing matters, but everything is either a good deal, nothing, or a bad deal in every market. So your mission is to find good deals whatever market you are in.

There's no way to give you good advice without numbers. There are also usually alternatives to just pitching in the towel and walking away. Make a new thread with your numbers and location and I guarantee you'll get some good feedback. No one is going to see anything in this thread.

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Originally posted by @Pete Jimenez:

I'm in the middle of buying a 4 plex! Still planning on moving forward with the deal. Is there any issue collecting rents from section 8 renters during a down turn?

I have an investor in the middle of a deal for a 4-plex in Kent that will close at the end of March, another investor in the middle of a deal for a tri-plex in Tacoma that will close at the end of March and one more investor that just nabbed a 4-plex in Tacoma for 75k under market price. (All of these deals are in Washington state/ Great Seattle area.)

Great questions about section 8. I am not sure but I will be following this question!

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Originally posted by @Kathy Henley:

@Aaron Morrow Their events are cancelled, so they need not travel. Many cancellations.

I am sorry to hear this, Kathy! What has been your cancelation policy?

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@Keith Thomas

I would love to connect, Keith! I believe Chris Reed does cover those areas. Let me ask him for you!

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Seattle, Washington

@Quantrial Shields

Of course! Let me know if you ever have amy questions. Feel free to inbox me! :)

1 Vote

Seattle, Washington

Originally posted by @Dilip Ra:

Hi all,

I am looking to hire a General Contractor to remodel my kitchen. Are there any contractors that you have used would recommend?

Thanks,

Dilip

Chris Reed with Straight Arro Homes. He just did a full kitchen remodel for me. Full disclosure, he saved us form a terrible contractor! Inbox me and I will give you his contact information :) I recommend him to everyone I run into now who is looking for a great contractor.

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Seattle, Washington

Originally posted by @Charlotte Casey:

I’m not seeing these supposed great interest rates. I did see them go up yesterday (as gold and oil improved) and even saw 5%.

We were out bid on Thursday in Seattle on 2 homes.. One had 9 offers on it, winner waived all contingencies and the price soared $175k over asking. So the real estate market here isn’t taking a hit!

What price point are you looking in Charlotte? As a local Realtor, I am seeing these massive bidding wars again. They didn't happen so much last year in 2019 like they did the 3 previous years before that. I felt like they came out of nowhere again at the beginning of the year... My last investor got a 4-plex in kent under contract and that was a fight... 15 other offers and it went well above asking price, everyone waiving their inspections and agreeing to put additional down if the appraisal came in low.

1 Vote

Seattle, Washington

Originally posted by @Robert Freeborn:

If you can’t find anything in Seattle, start looking up north. As with everything else, you might need to negotiate for them, but there are plenty of good deals if you are smart about it. Give me a buzz and I’d be happy to talk more details.

I agree to this statement!

0 Votes

Seattle, Washington

Originally posted by @Quantrial Shields:

@Dave Skow does Washington appraisals go off the conditions more than the sqft like California or more of the sqft the property has like the south I’m trying to understand how appraisals work in the state of Washington. Sorry for the confusion

Square footage is king here, then condition, then the number of beds/baths, then features... :)

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Seattle, Washington

All Forum Posts by: Aaron Morrow

Aaron Morrow has started 26 posts and replied 61 times.

Post: General Contractor referral

Post: What will be the impact of the Coronavirus crisis on real estate?

Post: What will be the impact of the Coronavirus crisis on real estate?

Post: (For Realtors) How is the Coronavirus affecting your business?

Post: General Contractor referral

Post: Killer low interest rates...but no deals in sight

Post: General Contractor referral

Post: Killer low interest rates...but no deals in sight

Post: Killer low interest rates...but no deals in sight

Post: Killer low interest rates...but no deals in sight