All Forum Posts by: Account Closed

@Luke Redford to echo what @Jake Alger mentioned, we focus mainly on cash-on-cash ROI and move very quickly when something hits the market. Admittedly our ROI standards have dropped a bit over the years but we are also focusing on better properties which have lower Cap rates. We are closing a property in Everett later this month and had it under contract within an hour of it hitting the market.

 “Cash flow can be overrated” I love it! So many people are obsessed with cashflow. They live in this thriving PNW market and invest in depressed markets across the country for a few hundred dollars a month in cashflow. I’m not going to hit my goals on a few hundred extra dollars a month in cashflow but I will with a mix of steady appreciation (8-15% or more) And moderate cashflow. I love the Seattle Tacoma and Everett market.

@Jason Leu I second everything @Penny Clark said. 

@Riley Brown out of college I got a good corporate job. Saved, saved, saved and purchased a sigh, then two duplexes using strictly my w2 income. Then I was out of cash. I partnered on a Fourplex and was totally tapped. I decided to use my expertise and help other investors. After 3-4 years at corporate job I got my RE license and started buying fourplexes for other investors and managing them. I continued to work my corporate job and stack cash from three sources of income and continued to buy property. Once I had 20 units I quit my job and went full time RE. I graduated in 2011 and we have 40 units now. Lots of my success I contribute to my education and corporate job. I would suggest not jumping solely into re 

@Matthew Kimball the only thing I like about that place is the number of units. I don't like the location at all and as soon as I saw it hit the MLS I ignored it for that fact. Rents are too low to justify repairs and tenant pool is bad. Mix those with trying to fill 46 units and I say no thanks

@Nathaniel Anderson sounds like you have a great plan! The Everett and Lynnwood area is a competitive market and a great area to invest. House hacking could be a great way to make the numbers work and pick up a deal. Best of luck!

@Eric Merhar I am strictly a buy and hold investor and have built  (and continue to build) my entire 10 building, 40 unit portfolio here in Everett. Therefore, I will have to respectfully disagree with you statement "If you are a buy and hold investor like me, it's just not going to work for you."

Nevertheless, I am excited to see what you find in Greensbro, as that area seems like a hidden gem. I look forward to hopping along for your ride and seeing future posts.

@Esteban Hermosillo my wife and I cashed in her AMZN stock options, bundled that with my bonuses and started buying fourplexes in Everett back in 2013. 40 units later, I am glad we did. You are in a great position being an Amazon employee in this economy and in this market. Take advantage of it!

Both! And having great success in Everett.

I am not sure how to respond to the first part of your question other than noting, rental do have to be on your tax returns for 2 years to claim the income off of them. Until 2 years they are typically treated as only a liability for the debt they carry. So perhaps they were saying your DTI (debt to income) ratio was too out of skew until the rental properties could be used for income.

They told us 70% LTV so we thought we were pulling a line of nearly $200k given our appraisal but then they told us the max was $100k on a rental.