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All Forum Posts by: Sam Albert

Sam Albert has started 1 posts and replied 18 times.

Post: New member from Seattle area

Sam AlbertPosted
  • Real Estate Investor
  • Tacoma, WA
  • Posts 20
  • Votes 5

@Loren Thomas ,

  Welcome to the site. As a fellow beginner investor further south in Tacoma, my only advice is to make sure you buy a property that is going to make you money. Don't rush a purchase just because you want to own a rental property. Make sure it's the right "fit" for you and your family and run all the numbers. Best of luck.

Post: Amazing Deal: How do I set up?

Sam AlbertPosted
  • Real Estate Investor
  • Tacoma, WA
  • Posts 20
  • Votes 5

My first thought is to sign a promissary note to get a temporary title. Finance the rehab (your own cash, hard money, Prosper/Lending Club, friend, etc) then refinance after the rehab to pay the remainder of the 20k to get the title and then sell. I'm sure there's a way to streamline the refinance with whomever you sell it to, but I'm not too familiar... yet.

Post: New Investor Fort Lewis, Washington

Sam AlbertPosted
  • Real Estate Investor
  • Tacoma, WA
  • Posts 20
  • Votes 5

Good luck with the move. Save up some reserves, create a budget, and stick with it. It's easy to spend money when you know there's more coming. I'd recommend investing in the area you are going to be after your six months in Benning so you can have more influence on whatever property(s) you own, especially as a beginner. While there are a few people who are successful buying a house every PCS, those houses don't necessarily make good investments. Just keep that in mind. Hardest part of the whole process is just making that first move. You have far more to lose with inaction than screwing up your first deal.

Additionally, take advantage of that W-2. It's amazing how easy it is to get financing when you have that steady paycheck and all your finances in order.

Post: New Investor / Real Estate Broker in Olympia, WA area

Sam AlbertPosted
  • Real Estate Investor
  • Tacoma, WA
  • Posts 20
  • Votes 5

Welcome to the site Heather! My wife, @Kate Kedenburg , and I are new investors just a little east of you in the Roy/Yelm area and are working on securing our first rental now that the dust has settled from our home purchase. Best of luck with your endeavors!

Post: I'm Here!!!!!!!

Sam AlbertPosted
  • Real Estate Investor
  • Tacoma, WA
  • Posts 20
  • Votes 5

@Jefferey Mitchell ,

Welcome to the site! Definitely check out the podcasts. Every one of them are worth listening to. Best of luck!

Post: Brand new in Tacoma - we made it!

Sam AlbertPosted
  • Real Estate Investor
  • Tacoma, WA
  • Posts 20
  • Votes 5
About time you signed up! We're gonna rock the real estate world up here.

Post: Triplex, Possible First

Sam AlbertPosted
  • Real Estate Investor
  • Tacoma, WA
  • Posts 20
  • Votes 5
With a building that old, take a look to see if you're eligible for Dept of Energy credits for replacing windows, heater, etc. Might help offset that initial investment.

Post: Informal meet-up in Tacoma, WA...Calling all interested parties

Sam AlbertPosted
  • Real Estate Investor
  • Tacoma, WA
  • Posts 20
  • Votes 5

@Tiffany Plovie and @Stacey Olson 

Looks like I'll most likely be gone next month, but keep my wife, @Kate Kedenburg, in the loop. Thanks!

Post: Dealing with tenants in the Military

Sam AlbertPosted
  • Real Estate Investor
  • Tacoma, WA
  • Posts 20
  • Votes 5

Worse off for us in this instance was fighting to get a move out inspection so we weren't liable for a property we weren't living in.

Post: Dealing with tenants in the Military

Sam AlbertPosted
  • Real Estate Investor
  • Tacoma, WA
  • Posts 20
  • Votes 5

Having rented most of the time while in the military, I can tell you that the 30 day notice is often unrealistic. I've always known that a PCS was coming but the exact dates were unknown until about two weeks from when I would have to vacate the property in order to have time to move, drive, find a place to live, etc. This normally isn't an issue so long as I inform the landlord/PM ahead of time but this created a lot of friction with my most recent property manager. I informed them in May that I was moving out in July, gave my 30 notice in the beginning of the 2nd week of July and had to vacate by Sunday. I offered to pay for the full 30 days but that still put everyone in a tizzy. Every time this happened in the past, it wasn't a problem and they just expected rent up to the move out date.