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All Forum Posts by: Cailyn Aune

Cailyn Aune has started 12 posts and replied 170 times.

Post: New Investor member from Tacoma WA area

Cailyn Aune
Pro Member
Posted
  • Tacoma, WA
  • Posts 176
  • Votes 88
Welcome Daren! This sight is amazing... And you can bring your experience to the table for others too! Good luck!

Post: New member here from the Pacific Northwest!

Cailyn Aune
Pro Member
Posted
  • Tacoma, WA
  • Posts 176
  • Votes 88
Welcome to BP! If you've been lurking around- you already know the value here. Good luck as you get started!

Post: Looking for Foreclosure House Flipping Investors in Tacoma, WA

Cailyn Aune
Pro Member
Posted
  • Tacoma, WA
  • Posts 176
  • Votes 88

Hey Kyle- welcome to BP!

Have you been down at the pierce county foreclosure auctions lately?

Post: Southeast King County

Cailyn Aune
Pro Member
Posted
  • Tacoma, WA
  • Posts 176
  • Votes 88

@Tom G. - Thanks for this... Am I thinking of this differently, or is this essentially the BRRRR strategy? And you are holding these, not flipping these ones? What is typically the spread you need in order to do this? I.e.: How much difference between purchase price and ARV do you need in order to buy, fix up, and refinance in order to make this work? And typically do you have to offer below listing price?

Post: Southeast King County

Cailyn Aune
Pro Member
Posted
  • Tacoma, WA
  • Posts 176
  • Votes 88

Does anyone feel like buying rentals right now isn't as appealing in Pierce county, with the prices continuing to go up? I feel like I could look back and see these deals where I'm barely getting 1% because prices are high right now. But then I could also see myself looking back and thinking, oh bummer... wish I would've purchased more when the interest rates were still low..... (Obviously, either way you have to buy right.... but still.... I keep going back and forth on this.) 

Post: Looking for wholesalers in King County WA

Cailyn Aune
Pro Member
Posted
  • Tacoma, WA
  • Posts 176
  • Votes 88
Josh Reynolds - This post was quite awhile ago... Are you still purchasing SFH to rehab? Have you connected with any wholesalers you could recommend? I have more questions for you too, come to think of it...! :)

Post: Market - is it getting crazy?

Cailyn Aune
Pro Member
Posted
  • Tacoma, WA
  • Posts 176
  • Votes 88

@Dan Krupa - Way to go. That sounds like the best plan, considering the market. Way to take action, and get that thing wrapped up. Especially if you were wanting if off your plate anyway. Seems like you have a solid plan.... way to go!

Post: My friend the real estate agent says there are NO deals in Tacoma

Cailyn Aune
Pro Member
Posted
  • Tacoma, WA
  • Posts 176
  • Votes 88

@Angela Jossy - I think for those of us who are newer to this... we have to be willing to put our head down, work hard, and be willing to do things and spend time doing things that maybe others don't want to do. There are a lot of people wanting to get into investing right now, because our market is so strong. It won't always be that way. And when a bunch of people get weeded out in the next downturn, well, I'm not going to be one of them. It may take more time and effort right now to find a deal, but they are out there. Hard to find, but out there. 

I know the things I'm learning right now during a hot market, are going to greatly benefit me during a downturn, and will help me capitalize on the situation. So that I can be thankful for!

Don't listen to the negativity and don't take what others say as absolute truth. And If I am learning anything by watching people like @Jay Hinrichs, and @Ryland Taniguchi - They take what one person thinks is absolute, and change it, morph it, until there is way to make it work for them. What one person said can't be done, they will somehow go do. It takes creativity, courage, and persistence.

THAT I want to learn.

Post: Market - is it getting crazy?

Cailyn Aune
Pro Member
Posted
  • Tacoma, WA
  • Posts 176
  • Votes 88

Hey there @Dan Krupa- what did you decide to do? Never hurts to list it and see what happens.... 

Post: Foreclosure Auction - Pierce County, WA

Cailyn Aune
Pro Member
Posted
  • Tacoma, WA
  • Posts 176
  • Votes 88

@Matt J.- Caliber was recommended to me by various people, one of them being a long-term friend who I highly trust. I went to both the Caliber and the Vestus new investor meetings (they both hold them on Tuesdays), then went to both of their Thursday evening meetings where they go over the properties going to auction the next day. I did a lot of comparison to try and vet them out. Caliber is dealing with a smaller number of investors... at the Vestus meeting, I was one of 75 in the crowded room. Caliber's numbers on their ARV's and rehab costs seemed pretty realistic, as Vestus' seemed more inflated. Vestus is one of the big players down there, purchasing more than others... but I also watched how much they paid for some of those homes, and from my numbers, they definitely weren't all deals. The Caliber group will only review properties on Thursday nights that they feel great about recommending the numbers for a flip. From my experience, Vestus went through all the properties going to auction and made them all sound like great deals. Caliber has a breakdown with a print-out of their detailed calculator for each property they feel like you can make money with. Again... you tell me who sounds like they are working for their client's best interest. :o) I haven't yet made a purchase, we are moving funds around to do so... IF we can find a deal that works.
I have been tracking the min bid prices vs the prices the homes sell for, and occasionally, it seems like there might be one worth having. But not a ton. Hedge funds are still present at the auctions, buying up any homes built in the last 10-15 years or so... I couldn't believe how much one of those homes got big up to. Crazy. I don't know how they make money doing that... but I guess they have a plan. :o) But the Hedge funds typically aren't touching the old distressed ones that need work... at least with what I've seen so far. 

Anyway... for what it's worth... hope that was some helpful feedback.