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All Forum Posts by: Cameron Benz

Cameron Benz has started 3 posts and replied 28 times.

Post: New to BP

Cameron BenzPosted
  • Puyallup, WA
  • Posts 29
  • Votes 4
Originally posted by @J. Martin:
Hello Cameron. You came to the right place! I’m a buy/fix and hold investor in the Bay in CA. But you’ll find a variety of all strategies here on the website. A few tips on the website and on meeting some fellow investors:

Search for local meetups here or google a local REI club to network with other investors. On the site, the "Learn" link across the top navigation bar has lots of great info, and so do the forums. You can tag people by typing @ before you type their name, then clicking their name when it pops up at the bottom of the message box. You can click on the ‘vote' button if you like someone's post or is helpful, and there are ‘awards' to earn on your profile. Good luck on everything!

Thank you for the tips J Martin. I've actually learned more here on BP already than I ever learned from the local REI club.

Eventually, once I have more capital, I'm sure I'll make a switch to buy and hold for cash flow's sake.

Post: New to BP

Cameron BenzPosted
  • Puyallup, WA
  • Posts 29
  • Votes 4
Originally posted by @Michele Fischer:
Welcome Cameron! I love how the pronunciation of your town quickly separates the locals from the non locals, it can sure get butchered. By day I work for a large timberlands company and by evening I am a buy and hold investor. And for both investment types, "not in King county" is the war cry... :)

Thank you Michele! I like your area as well. Easy hop from there to Oregon or straight out to the coast!

Your current employment sounds much more interesting to me than mine lol

Post: New to BP

Cameron BenzPosted
  • Puyallup, WA
  • Posts 29
  • Votes 4
Originally posted by @Gerald K.:
@Cameron Benz Welcome to BP. I'm up in Kirkland. Check the "Learn" tab up top along the menu bar to find lots of great info. See you around the forums.

Thanks for the pointers! Good to hear from so many that are close by!

Post: New to BP

Cameron BenzPosted
  • Puyallup, WA
  • Posts 29
  • Votes 4
Originally posted by @Account Closed:
Welcome to BiggerPockets @Cameron Benz!

It sounds like you're on the right track! Definitely check out these articles:

Flipping Houses: The Ultimate Step by Step Guide

How to Buy a Multi-Family Property: A Step by Step Case Study

I think you'll find them to be full of great info for your ventures!

Good luck-

Thank you for the links! Much appreciated!

Post: Finding Buyers For A HUD Home

Cameron BenzPosted
  • Puyallup, WA
  • Posts 29
  • Votes 4
Originally posted by @Shaun Reilly:

No idea why you would have had to have all the money in 2 days. Did you only pay like $1000 for the house?

Nope. It was just barely over $100k. I wonder if that's what we were told by the broker handling it for some reason.

Post: Finding Buyers For A HUD Home

Cameron BenzPosted
  • Puyallup, WA
  • Posts 29
  • Votes 4
Originally posted by @Shaun Reilly:

Once you have an offer accepted by HUD you have 48 hours to get them all the signed paperwork and certified funds for the deposit.

After that it is a pretty normal closing schedule. They used to give you 45 days but the last one I bought they had changed it to 30 days for an investor. Like any REO you can not assign the contract but you can double close with no restrictions.

Interesting. I bought one once as an OO. I wonder if it's slightly different for an investor as it seems like we had to have the entirety of the funds. What does the deposit run these days?

Post: Finding Buyers For A HUD Home

Cameron BenzPosted
  • Puyallup, WA
  • Posts 29
  • Votes 4

As was pointed out above, I think you pretty much have to close on the property before you can wholesale it. HUD is an interesting subject but my experience is that, once they accept your offer, you only have like 24-48 hours to come up with the money in full. I don't remember which it was but I want to say 24 hours.

Post: New to BP

Cameron BenzPosted
  • Puyallup, WA
  • Posts 29
  • Votes 4

Hey all, I'm Cameron from up outside Tacoma, Washington. I first learned about this site from a member when I was at a get together of Fastlane Forum folks in New Mexico last year.

My interests are varied (shooting and Jeeps come to mind) but where real estate is concerned, it's fix and flips, syndication, multi family, and timberland. I'm still learning and hoping to jump into my first property sometime this summer. I look forward to participating and learning here.