All Forum Posts by: Collin Savunen

I have been listening to all of the podcasts recently and reading and searching the forums alot. It's has been said that the market will crash soon for the past 3-4 years from what I have found. I am not a market follower and I am not well versed. Why hasn't the market crashed yet. What has made it Outlast alot of well versed people's expectations and estimates? Thank you!

There were supposed to be spaces and new paragraphs but the app seems to delete those when I post.

Hello BP community! I found a property recently that had the potential for a second unit on the property! After clarification I found out that isn't what the zoning definition meant. However that sparked my interest. How many of you in the community work with local zoning offices to further your real estate investing potential and do you have any examples? Is it a good idea to work with them? I am excited for your replies! Thank you!

@Richard Lema Check the BP events page to see if there are local meet ups of investors in your area. If there are none on there create your own meet up! Then you will become the center of that group. You can also check sites like Meetup for investor groups. That is my best advice at the moment. I have just got the bug for REI this year (at age 25) and all I have done so far is analyse deals, go to these meetups, and network. Also if you find a real estate agent make sure they do investing themselves. Good luck! And welcome!

@Ritch Bonisa Thank you for the wisdom and don't worry I have thick skin and an open mind. I agree, working backwards is better. You can only sell it for what the market wants. I am going to make a scope of work so I can quickly estimate rehab costs and have a foundation for the rehab, also to attempt to save some money. However I will use your advice and the scope of work will not be my end all be all, it needs to be flexible and adjustable.

@John Barrett thank you! Already started building a scope of work. Will try and price it for average sized rooms. I know kitchen and bathroom will be the most expensive per square foot. And I have an REI that I am going to next week. Missed the last one by acouple days. But your $25-35 per square foot is helpful. I got $45-$55 from someone else in a high demand for contractor area. The more I gather the better.

Hello!

I'm am starting to look at houses and have some questions on the rehab costs. 

Does anyone in the Olympia area have any recommendations for contractors? 

Are there any ball park estimates for rehabs you guys use?

I have started my own research as well looking here on bigger pockets reading some estimating rehab articles and watching some videos. But the more information I can get from all sources the better. 

Thank you,

Collin Savunen

@Kevin Romines I look forward to seeing you there as well! I look forward to seeing everyone that attends! This community is way more open and supportive than I imagined.

@Gabe Hall it is on Zillow but thank you for the warning! Don't want to get myself in trouble right off the bat.

Consider my goal revamped to $60k in the first five years! Heck if I hit it early I will go for $100k! Any extra money I earn from passive income will be donated or invested into some not for profit companies my wife and I have brainstormed.

I am excited about meeting all sorts of people in the real estate investing community and learning from everyone! And also seeing what I am good at and where I can contribute as well.

Thank you for the advice! I will be sure to put it to practice! 

And thank you for the date for the next Olympia REI meet up.