All Forum Posts by: Robert Freeborn

@Dane Larsen

Hi Dane! Glad to see another local investor. People find it hard to believe, but there is so much potential in the area.

Shoot me a message if you want to connect or talk shop sometime.

@Pamela Rickey

Thank you for sharing that Pamela. It’s right out of the crazy scammer text book, and what’s so scary about it is that each step makes sense at the time. We want to believe that those we meet are truthful and trustworthy. I’m sorry it was the exact opposite for you.

@Cory Nicol

Hi Corey! Welcome. House hacking is a GREAT way to start.

I highly recommend reading Set For Life by Scott Trench.

Unless you have a LOT to put down, you might have a hard time finding and closing a deal in Seattle. I recommend looking out of the metro and up the 1-5. There is lots of potential up north here.

If you’re set on Seattle though, there are lots of local agents who can help. Either way, welcome.

With the fed drop to 0% we will undoubtedly see a change in the rate commercial and hard money lenders use.

The question is, how long do you think it will take to see that change?

@Chris Williams

Hi Chris. It can definitely work from a theoretical perspective. The issue you will run into is financing. I don’t think you’ll find a loan (all commercial loans at that size) that will let you officially owner occupy this thing. So it would have to be as a pure investment, which means it needs to qualify in its own.

If, after you close, you then decide to move into a unit when it becomes vacant... well... buy it under a Llc and then rent it to yourself as an individual?

@Lazaro Smith

What are you looking to do Lazaro? I can’t tell what you specialize in from your profile.

@Ric Mittleider

Really I think you should be talking to a high-end builder instead. There I so much risk I speck building in general, and that only goes up with high-end. You also have to remember that the higher your price the smaller your buyer pool. That is slightly mitigated by the large amount of high-end buyers there.

Another option to consider is to just do a regular speck build. Got for a average, modern home. If it really is water-front it will still sell for a high amount because, well, Seattle. Talk to different builders like Adair or Lexar or other operators and get estimates. Then run your profit projections and make a choice.

If you can’t find anything in Seattle, start looking up north. As with everything else, you might need to negotiate for them, but there are plenty of good deals if you are smart about it. Give me a buzz and I’d be happy to talk more details.

@Kenneth Butler

Welcome to Washington! I’m a little north of you, so I won’t be much help in that market. You’re on the right track though!

@Molly Taylor

Hi Molly! Welcome to investing and BP.

Seattle is a great market, but it is also a hard market. When first getting started, it might be best to look north or south. These areas are seeing a lot of gentrification and growth as people expand out from Seattle. That means lots of opportunities for investors. (I also think it’s easier to find a brrrr in these areas).

I’d be happy to talk to you about these areas if you want, and I’m sure some of the other agents who already posted would be happy to help you as well.