All Forum Posts by: Loren Thomas

Hello! We try to stay north of Renton and south of Marysville. Anything in the middle is fair game 

Hi There,

My name is Loren Thomas and I am an electrical contractor. I've been an electrician for 20 years doing all aspects of the industry. Last year I decided to start my own company. I quit on a Thursday and Friday morning I was at the contractor parking section of Home Depot handing out cards and donuts to contractors. I now have 3 vans and 4-6 guys working for me and am looking to grow more still. Hence, the reason for this post. 

I'd like to request the opportunity to impress you with my attention to detail, manpower to do the jobs, and relentless motivation to FINISH jobs. I have attached various items such as pictures of current and recent projects as well as rough drawings I create for my guys to reference in the field to reduce confusion. If you have any upcoming projects, feel free to send over drawings and let's see if we can help each other.

I am aslo pretty savvy with electrical drawings and can engineer and electrical plan for you, if needed.

Thank you for your valuable time.

Loren Thomas

LST ELECTRIC 

[email protected]

425 870 8072

PS I've been a biggerpockets member for years. The income from my electrical business is going to end up funding real estate ventures. Won't you help!?

I've got an off-market deal here that is too rich for my blood. If you're a Seattle area small multi investor, I'd like some help. I'm happy to pay the deal forward if I can get some experience.

There's certainly some value-add opportunity, but the seller isn't willing to sell at a price that makes that make sense. It's in good rentable condition as is, 3 blocks from Ballard High.

Please reach out!
 

Hi Rob,

I dont know that I can give you a good answer. I haven't been in touch with the cost of residential installations for some time.

I will say though, that a legal 74 build should have grounded wiring it so, really you might just need a service upgrade. Assuming your not running multiple welders and heaters and air compressors in your shop at the same time, you'll be fine.

That's rad and I want one.

Thanks for your response!

They are all currently month to month and my goal is to renovate each unit immediately after the prior renovated unit is rented. Numbers are all LTR. Yes the pro forma includes rent increase, although I feel it's a median figure. 

Im still in talks with the city about the RV spaces but their official position is they cannot be permanent residences. Tough to get someone on the line. I hadn't considered the "or what?" angle. haha. I need to ponder that some.

I think because they will be freshly renovated, maintenance will be low(er).

Property management is something I considered. We might treat this property as a fix n flip. If we decide to keep it, I will definitely calculate in a manager fee. 

BUMP

Here it is. What could be my first real deal. I made this document to source funding, and it seems to have accomplished that goal. I am not looking to find funding for this, I am looking for anyone who sees things I may have missed. A peer review, if you will. 

https://docs.google.com/docume...

I've decided to just not transfer title into my name. This is all kind of a short term play. I don't want to spend a lot of resources. If I don't put the majority in my name, I can probably still stay under the 4 car yearly max.

I'm considering allowing payments. Take 50% down and the rest over a year. Put us both on title so buyer can get insurance. Once it's paid off, remove me from title.

I currently enjoy high level union health insurance. I would argue it's a large benefit of a "9 to 5". 

Obviously the list of 9 to 5 cons is still much larger. What do the financially independent people do for health insurance? Some must just pay out of pocket, some must have insurance through companies they own. 

It just seems so expensive. Kind of like daycare for a single mom. Breaking even going to work just to pay someone to watch her kid while she works. Perhaps wealthy people can simply afford the cost. But what is the actual cost?