All Forum Posts by: Eric Moehrle

Main Street Realty and Property Management. Also locally owned and operated.

Jeremy, welcome to the Bigger Pockets community! If you take the advice given here you should be in good hands. I am a local agent and investor mostly in South King County, feel free to message me if I can be of any help.

Ryan, if you are able to add to your estimated cash position you should be able to find a solid MF deal in Thurston or Lewis county that will meet your criteria. There is still solid demand and appreciation could be expected in these areas as well. For non owner occupied you should expect to put 20% down. 

Congrats on the first purchase! How would you rate your experience with Pinnacle as a turn key provider? Do they keep their PM in-house or is this done by a third party? Thanks

George thank you for sharing! Are you obtaining mortgages on these properties or paying cash, commercial loans, private money? 37 is an amazing number and I'm curious how you have been able to scale and get approved for these loans. Thanks again

Ivan, filling the tank with sand can be an approved form of remediation for these heating oil tanks. If it is registered as being decommissioned then you are fine. If the attorney found out about the tank and the owners just said oh ya we filled in with sand ourselves this is a different case. Since it is no longer holding oil you do not have to worry about it damaging the soil in the future since the damage would have already been done. During your contingency period hire a company to do soil tests around the old tanks and this will tell you if you are going to have an issue. Remediating all the soil if they leaked will be a huge and costly undertaking, however properly handled underground tanks pose no real issue.

@Ben Freeburg i have owned this rental house for a few years now. However with new deals being hard to come bye I figured this might work out into adding another rental. I haven't started any of the leg work on my own yet as I thought this might be the best place to get referrals first. For this deal it made sense on its own so if I can add the additional house that will just be a big bonus. And water, sewer, and electric is already at the street so that is a huge savings as well.

I'm looking for a Civil Engineer referral in King County Wa to help with permitting for short plat, zoning change, and development. This will be my first land development deal and any advice is much appreciated. Thanks

Congrats on your success! How are you financing these with the hold strategy? Thanks

I would give Caliber home loans a call. I have used them a few times and they do 75% arv and no seasoning. Hopefully you can use the same appraisal as well.