All Forum Posts by: Jennylynn Caldona

Why there will NOT be a housing crash again like 2008 in King County Washington.

1. There are new government systems in place that prevent banks from lending money to people who do not qualify. (They used to give loans to anyone before 2008)

2. Governments promises the interest rates will still be low for couple more years, which make people want to buy houses. (They look at the monthly payment not the amount of the loan.)

3. 2020 to 2021 builders will still not be able to build enough houses for the demand because of the borders being blocked and shipments being delayed.

4. Only low income households and the super rich will be tremendously affected by covid. There is still plenty of equity in their homes to sell with profit and they can move somewhere cheaper.

5. Only few brave souls will want to sell their house because of the uncertain covid times, which keeps the inventory low despite the high demand. Which drives the prices of the homes up.

6. Our government prefers people to stay in their homes despite not being able to make payments (forebearance laws), which delays foreclosures for a long while. (Ive seen houses being occupied by former owners or tenants for years and years before being finally auctioned off.)

7. 2022 to late 2023 there might be a 12% dip in the market but it will recover. This is when tired landlord’s rental homes will be up for sale because tenants finally have left. Again they have plenty of equity in the home to sell it.

8. King County is a wonderful place to live and work remotely.  

Investment Info:

Single-family residence buy & hold investment in Renton.

Purchase price: $420,000

Renting out home to a person using the home as an adult family home business.

What made you interested in investing in this type of deal?

long term lease. very reliable. Renters are responsible for the condition of the property.

How did you find this deal and how did you negotiate it?

My family is experienced in the afh businesses. my realtor found me this deal.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

I fixed the 4th bedroom and bathroom.

What was the outcome?

I was able to transfer the license of the business to my tenant. She was able to take over the business. She is using the income of the business to pay for lease.

Lessons learned? Challenges?

It took 6months to transfer the license.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Curie was my realtor. She's awesome 😎

I want to buy a list with owner name and phone numbers of vacant expired listings for zip 98001, 98031, 98055

Last 90 days - At least 4 bedroom 2 bath 2000sqft 1990 - Cap is $600k

Name your price. Thanks J.

I’m looking at a house that is up for auction in Oct 2020

It's ARV is $525k

I want to buy it for $425k with a 203k loan. 

They owe at most $400k for everything. 

@Nghi Le

thanks for the suggestions

its good to know my options!

I found out that cw title in kent has experience doing double closings...

@James Dainard

what contractor did u use?

@Jerry Padilla

I have three homes including my primary residence.

I'm trying to finance a 4th home.

my credit score is in the 650 range.

I have 3 homes I rent out and my debt to income is too high. I have a 4bed 3bath under contract in seattle wa 98118, 1400sqft home. I'm buying it for 375k, arv is $500-600k... Does anyone have any suggestions?

Please send me some referrals and recommendations please!