All Forum Posts by: Christopher Bowen

Thanks for the insight, everybody. I was looking for some info for a friend of mine who wants to get into it. He had asked me I wanted to partner so I thought I would touch base with the BP nation first.

Hi BP,

I am curious if there are any investors out there doing spec builds in Western WA State (specifically Snohomish County) that wouldn't mind sharing some advice? Is this a good time to get into it? What are the pros and cons specific to this area? Are you having trouble getting construction loans? Would you advise rehabbing over spec building? Anything you can share would be helpful.

I bring this up because home sales are on a rapid rise here and the flip deals are few and far between.

Thanks,

Chris

Hey @Zach Schwarzmiller

I briefly discussed this with my mortgage broker the other day (among many other things). If i recall correctly, you have to be out of the first FHA loan before you can take another. I'll be interested to hear what you find out from your broker conversation today.

Chris

Welcome @Kevin Bond

I am in a similar state as you are... looking to jumpstart my investing career with flips so I can purchase buy-and-holds with the profits. I have a decent amount of capital saved, but I think I need a bit more to do things properly in the area I am interested in (south Snohomish County). I grew up and currently live in this area and know it very well.

If your interested in chatting more about strategy, potential deals, etc. PM me and let's do so. I have had my head down building a great team for the last few weeks and am just about ready to get into the game.

Best,

Chris

Hi @Justin McCain

I echo Zach. Come on out to the next meetup. The last one was very helpful.

Like you, I am new to the REI world, sucking up as much info as possible and looking to make my first purchase in the very near future (this month or next). At this point I am focusing on buy-and-hold investing (looking for something beat-up that needs a bit of work) because I work full-time and getting into flips right off the bat is a bit intimidating. I would say however, that if I had the right team together, and a flip opportunity came up, I would seriously consider doing it.

I currently live in Lake Stevens and commute to DT Seattle each day for work. My markets of focus are Snohomish County and Pierce County.

If you're up to it, let's grab a cup of coffee and chat. Would love to get your perspective on the flipping side and I can share with you what I have learned about buy-and-hold.

Best,

Chris

Welcome Erik! You have come to the right place to find mentoring and information specific to your needs. I suggest that you become an active participant in these forums and soon enough you will meet the person you are looking for.

Welcome!

Lake Stevens is where I call home.

What type of REI do you do?

@Zach Schwarzmiller

Thanks for the suggestion, Zach. Let's chat about this more Saturday. Would love to hear about your experieces.

Hi BP,

I am becoming more and more interested in Pierce county for SFR and multi-family buy-and-hold investing. Does anyone out there have any insights, suggestions, warnings, or specific locations to look for or stay away from? Case studies are great too. I currently live in Lake Stevens and have been looking around these parts, but inventory is low, so I want to keep my options open to the South Sound as well.

Thanks!

Welcome @John Justus

I echo Zach... come on out Thursday to the meetup. Should prove to be helpful. I am new to REI as well and I can tell you that meeting with others in the business is the fastest way to get up to speed. In just about a month I have sat down with four people I met here on BP. Everyone is willing to help each other and that's what I am coming to love so much about this business.

In addition to the beginners guide and the the keywords that @Brandon Turner mentioned, check out the podcasts and the plethora of articles that are available. If you're interested in multi-family buy-and-hold investing, check out podcast 61 here. It's packed full with great info for newbies.

Good luck!

Chris