All Forum Posts by: David Gellner

Hi William!
Welcome to the site!
One thing you'll find out soon is that there is almost no question that cannot be answered on here. I wish you to the best of luck getting started!

Have a good day,
Dave

Hi Everyone,

I'm looking for a place where I can buy-and-hold multi-families and single family homes for the foreseeable future.

I know that it is recommended to invest in your own backyard, but I'm not to confident in the current area that I live in.

I'd like to invest in the Seattle and/or surrounding areas, as well as move to the location that I decide to invest.

Does anyone have any suggestions on how to research a potential real estate market? Is there any economic indicators that you specifically look for?

If anyone knows of good websites, books, or people to talk to I'd really appreciate it!

Thanks for the post Brandon Turner! I love hearing about REI books I should read!

Does anyone have a recommendation on which John T. Reed book(s) I should read? I noticed on Amazon that he doesn't have a lot of reviews.

Thanks, Bryan R. I sent him a message a few days ago, hopefully I'll hear from him soon!

What exactly do you mean by a C neighborhood? I understand the property classes, but it seems like everyone has different grading standards.

The potential I see in renting to a C neighborhood is the problem tenants that you may be renting to. I'd just want to make sure that I could get tenants that are decent because one bad tenant could kill your profit.

Good job on actively trying to find deals and I wish you the best!

Dave

Hi Everyone,

Does anyone have any recommendations for real estate accountants in Washington State? I'm near the Seattle area, if that matters.

Also, does anyone have experience with the bigger firms, or would you recommend a smaller firm/sole individual?

Thanks
Dave

Hi, Amie D.

It's nice to see fellow Washingtonians on BP!

My favorite part about real estate is the wealth building aspect. Perhaps I played too much Sim City as a child, but just thinking about my wealth growing over time excites me! I literally can't stop thinking about it.

I'd definitely agree with what Brandon Turner said: Dealing with tenants is the biggest pain. In all honestly, my family has been lucky with the tenants that we've had/have,but It only takes 1 or 2 horror-tenants to make you re-think being in real estate!

I think everyone has said some great things, but I'd like to add a few suggestions since I'm just starting out like you.

First and most important: Find a mentor. If you can find a local investor that you can trade your skills/time/value for his knowledge, you'll learn more than you ever could by going to school or reading books.

Secondly: BiggerPockets is the absolute best resource online. Make use of the search function, and if you can't find what you're looking for -- which is rare -- just ask away!

Welcome Grant Shafer

I agree with everyone Jon Holdman said. After watching my parents my entire life screen tenants, I could never imagine doing it over the phone.

The risk versus benefit is too great!

Great idea! I'm not in Pittsburgh, but I'd definitely like to do a meet-up in Washington State. I'd ask Brandon Turner, he'd definitely know how to help you out.