All Forum Posts by: Brock Lile

@Jason D. I agree. I'm going to try and convince them today to go with a real estate agent. That way they can get top dollar and have eyes and ears on the ground here when they make their move in a few days.

@Mike McCarthy Yes I understand what you are saying 100%. My main focus isn't to aquire the house unless they were up against a do-or-die situation in which they absolutely had to get rid of it ASAP and they are approaching that territory. It is a nice house...very nice. It wouldn't be a typical rental, you're absolutely right. 

The main concern is getting them the cash so they can start their new life. I just figured if I could kill two birds with one stone, maybe I could come up with a win-win, but I'm not going to risk a friendship over it and it's really not important to me to buy the house. Not at all. I think you're right, I think I'll search for a real estate agent for them and see if they'd want to go that route. I want to help them get the best deal they can because right now, they are just so overwhelmed they aren't even thinking clearly. 

@Steve Vaughan Thank you for the advice and yes I have been checking out those forms. I'm starting to think I won't even try to acquire this property even though it might go for a steal, but I still want to learn from this situation in case something similar arises in the future. I'm going to check that out. Thank you.

Hello everyone.

I've run into a rather crazy/unique situation. I'm more trying to figure out a solution to help some friends of ours, but if I can somehow make a win/win/win out of this, I'd love to hear everyone's opinions or solutions.

So here's the back story.

Some friends of ours have come into a very unfortunate but unsurprising situation that is forcing them to move to another country. They have no other choice and after fighting lengthy and expensive citizenship fees and expenses, they can no longer afford to attain full citizenship status and their time has expired.

They have a BEAUTIFUL house they are trying to sell FSBO. This thing is move-in ready, minus some ugly interior paint choices. Granite counters, beautiful cabinetry, 4 bed, 2.5 baths, built in 2006. Just over 2200 sq/ft. Great back patio/yard. 2 story house with attached garage.

Their situation is this: They are moving Wednesday (3/27/19). That's right, Wednesday as in less than 3 days. 

They are on the title to this house and I'm not sure what they owe. I plan on asking them tomorrow as we go to say our goodbyes. We are not sure if/when we will see them again, honestly. 

They've been very frugal and extremely hard working so I imagine they've got considerable equity. If they can't sell in the next few days, they are going to have to go through an agent, dealing with this from another country.

I have the feeling they are so stressed out right now with everything going on that they just want the house gone so they can move away with some cash to start their new life.

I don't know what to do here. If there was any way at all my wife and I could work out a deal with them to buy this house, somehow, and rent it out while they walk away with some cash in their pockets?

My wife and I aren't exactly in the position to buy a rental right now (building our own house very soon and have a new baby), but is there ANY creative way we can make this deal work for everyone???

If they can't sell for what they're asking ($335,000), I have a very strong feeling they're going to just dump it. This is the time I would really start trying to negotiate a deal. Obviously, I want them to get top dollar for this house, but, they are up against the clock now.

I do not want to in any way take advantage of our friends' situation, but if there was ANY way possible to make this work, I want to figure out how. They've asked us if we'd be interested in the house previously in which we were not in the situation to buy it (and possibly still aren't).

Thank you for any input.

Keywords:

help, cowlitz county, washington, longview, kelso, kalama, castle rock, woodland, rental, FSBO

@Jay Henrichs I actually subscribe to @Sean O'Toole 's Property Radar. It's an amazing software. I like how the lists you create automatically update themselves. The other extremely useful tool is the USPS designated vacant house finder. Amazing. Although I'm just starting out I can definitely see how powerful of a tool it is.

Yes Castle Rock is a nice little town. I was born and raised here. I'm sure I've ran into your relatives at some point.

@Spencer Harding I've never heard of the app you use. What does it cost? Definitely going to check it out.

@Account Closed have you tried the DealMachine app? I use it pretty often and it does what you describe. The postcards they use leave a lot to be desired, though.

 Thanks for the info I appreciate it. I'm going to try that.

What was your best CL strategy and how long did it take you to reach that number? So you basically went to auctions and started networking? Calling the Section 8 owners is a great idea. I'm  just trying to learn some effective techniques. 

Hello.

I've been searching around to learn more about Washington State-specific laws in relation to investing. I'm mostly focusing on wholesaling right now but these laws would most likely apply to any investor looking for a deal in this state I would imagine.

What I've found so far is to absolutely stay away from pre-foreclosures and foreclosures due to "equity skimming" laws (RCW 61.34).  Link: https://app.leg.wa.gov/rcw/default.aspx?cite=61.34

The second thing I've found is pertaining mostly to wholesalers in that an assignment is a much better way to close that a double-closing.

One question I have is regarding code violations or non-foreclosure evictions. Are there any RCW's related to investors approaching property owners in these situations? 

Would a property owner with pending code violations or back-taxes also fall under RCW 61.34 or their definition of a "distressed owner"?

Are there any other Washington-specific issues to know before proceeding to find and close deals in this state?

Thank you in advance!

Keywords: wholesaling Washington state legal laws RCW distressed lawyer attorney

Edit: specified non-forclosure evictions

Ill also add....go to IFTTT.com and set up alerts directly to your inbox. You might have to mess around with it a bit to figure it out but search for "real estate" in the applets search. 

Applets will pop up that will send a specific CL search directly to your inbox. 

You might have to try a couple different ones before you find one that works correctly.

So say if you're looking for funding or investors, set up a CL search, copy the entire web address on the results page of CL, and then paste it into the applets you are using. 

Type in your email address in the other field and boom....every time somebody posts on CL with your specific search criteria, the post will be sent to your inbox with a short description.

Very handy. And free. 😎

I think technically you can but from what I've read agent's don't really like dealing with wholesalers/double closing/assignments. I've also read that sometimes an agent or the bank that owns the property will require proof of funds. I could be wrong on this. Following to see what others with more experience have to say.