All Forum Posts by: Brian Glasspoole

@Michael Lowe

Don't try to win them over. Just do your thing.

Naysayers will always be pessimistic pansies.

By far the best financial decisions I've made are my rentals.

Compared to the naysayers in my life I am financially ten times better off.

Once you succeed try to help guide/educate those in your life who have ambition and drive.

After you get to the top of the mountain throw a rope down for those you love to climb up and enjoy the view with you.

Some people just need someone to lead them...

Investment Info:

Single-family residence buy & hold investment in Bremerton.

Purchase price: $215,000

SFR fixer upper in B class neighborhood.

What made you interested in investing in this type of deal?

Primarily appreciation in the area, but made sure property would cash-flow as well.
Tax break (depreciation) is a bonus.

How did you find this deal and how did you negotiate it?

MLS/Agent

How did you finance this deal?

Traditional

How did you add value to the deal?

Sweat equity and converting space into a bedroom
Painted/minor remodel primarily with my wife and I by ourselves.

What was the outcome?

Hold onto cash-flowing property with great appreciation

Lessons learned? Challenges?

Challenges were finding contractors and financing.
Multiple contractors flaked so I wound up doing most of the work myself at night and weekends for several months.
One contractor gave me a price, said he would start the next day, then never showed up and stopped answering my calls.

Financing required jumping through multiple hoops as most of you are familiar with. I am a 1099 business owner, so it was actually a more difficult that if I was a W-2 employee.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, Joe Simon who is in Kitsap County, WA.

@Pancham G.

Congratulations!