All Forum Posts by: Christie Gahan

Questions regarding photos :

Are the stairs metal ?  Painted wood ?

The yellow door would have worked well in photos.

The fireplace is a big part of the front facade.  Did you paint it black ?  Did you consider other colors?  It all came together and it sold - so good job.

You might research 401k Roth .... I'm not an expert but you can transfer money to a 401k Roth ( with a tax hit ).  If you are young, single and have the money this could be a  good thing.  Investing in a Roth does not give you a tax advantage going in but it grows untaxed and is withdrawn tax free.  

Hello from Portland :

Duplex - Four Plex  market is so overpriced.  Those that live in a market that can follow the 1% rule would faint.  My personal take is that folks are using the 1% rule and then adding 100k to the price.  I've seen duplex listed for 450k that bring in 3k a month in rent.  Rent prices are up 40% in 4 years.  

I wouldn't look in Portland but outside of Portland.  Smaller towns in Yamhill or Washington County.  Washington County has Intel and Nike World Headquarters so it isn't cheap.  

Even at these prices, the small plex get snapped up.  I saw a new listing yesterday in (Washington County ) Hillsboro. 2/1 duplex... the second bedrooms are non conforming / converted garage space.  " Lower then market rents" .... the place is vacant.  So yeah, I guess that is lower then market.  One side is "mid construction".  A rehab that stopped ?  Most renters expect drywall, etc.   Market rent is $1,000 mo.  Asking price ? $270k.  ( Plus costs to finish second unit.)  I'm wondering if it will go into foreclosure ?

Portland Metro has very strict urban boundaries set by the state.  You can't just go to the outskirts of the area and build new.  This preserves rural lands but creates an artificial price influence too.  

Thanks, Bob. Are there restrictions on both the seller and the buyers loan with FHA ?

Idea: Go online and join the local REI club in New Mexico. They probably have a msg board where members can post deals.

Idea: Call some property management companies in your area.  Let them know that you have a property.  Maybe some of their clients would like to pick up another rental ?

Hello All:

I'm wanting current ( 2017) info on how Buyers are getting loans for your flips ?  Do you find and promote loans that don't have the seasoning requirements ?  Is there still the 90 day seasoning ?  Work arounds ?  

Thanks !

I knew someone who was putting the property in an LLC whrn her offer was accepted. She then added her buyers name to the LLC as a partner. When she got her wholesale fee she gave end buyer a doc stating she no longer owned any part of LLC. Title Co's just thought she was adding a name basically.

Hi:

What are the best ways to wholesale a property purchased from Hudzu ? Is it possible to do with out closing first ? Can you put property in LLC. Then sell the LLC ?

Maybe you should work with HMLs and flip ?  This could give you a bigger pile of cash.  Or wholesaling ?  

Is the daughter on the lease ?  Would that make a difference as to if you had to do the modifications.

I do agree that they might stay a really long time.