All Forum Posts by: Henry Y.

@Jerryll Noorden I know DMM is not working well for me and it's too expensive.  Your website doesn't have as many videos or pages I thought it would need to be #1 in your space and you are killing it.  What books/website/resources do you recommend learning about SEO?  I laughed reading your comments...brutally honest

I am inspired Ryland!  I can explain it to my partners.

@Ryland Taniguchi, awesome post!  I have to read it and hear you in person a few times to learn how you structure the deal together and I still have some questions.  In your example, you locked the deal and agreed to pay $500,000 12-months and you only pays $10,000 earnest to the seller.  Your investor is bringing in another $300,000.  Does the investor paid $150,000 (downpayment) to the seller?  Would the investor later bring in another $350,000 at maturity date (at 12 months)?  

It is a relatively low-risk investing with accelerated wealth combined!  It's amazing!

View property in Edmonds - walking distance to Edmonds Elementary and close to Downtown!  Almost 180 degrees of water view.  If there is any interest, please drive-by the property and we can schedule a showing.  Also entry at the top-level.

Suggested Update:

Kitchen and bath (Cabinets look good)

Hardwood flooring

Windows, molding/trims, and carpet

Heating systems - bring gas to the property and use gas baseboard heat or split AC

Downstairs can use make-over and layout changes (optional)

https://www.redfin.com/WA/Edmonds/1118-Olympic-Ave...

Excellent views of downtown Bellevue, downtown Seattle, and the lake!

After repair value is probably worth $1.1M+

https://www.redfin.com/WA/Bellevue/4735-136th-Ave-SE-98006/home/235650

https://www.google.com/maps/place/4735+136th+Ave+SE+Bellevue,+WA+98006/@47.5600005,-122.159996,3a,75y,215.39h,84.83t/data=!3m6!1e1!3m4!1sl4pkQ_I7lrWhp5R7AlGDgw!2e0!7i13312!8i6656!4m2!3m1!1s0x0:0x2f1d8678d954bec8!6m1!1e1

Sale price - $900K Fixer.  Lot is sloped and triangular.

Pictures: https://drive.google.com/folderview?id=0Bx-x5-rzXeDRLXJwM3BlS1piaVU&usp=sharing

Encourage buyer to drive-by the property first.  Seller doesn't want to do open-house so we'll bring a few buyers there at a time and possibly Saturday showing.  Closing on Nov 1st.

Thanks @Wayne Brooks for the comment.  I'll learn more about them soon enough on Wednesday to see what sort of solution to help.  

I am working with an off-market deal. The seller has a mortgage $180,000 and he has $18,000 in arrears. He already had a bankruptcy. The retail value is worth around $230,000. The seller wants to sell with $10,000 in his pocket. I want to explore subject-2 and have never done one before. My goal would be purchasing and renting out for around $1,700 a month (not 1%) or wholesale to one of our investor buyer. I have a few newbie questions: 1. The bankruptcy attorney advised the seller if the offer amount is lower than how much the seller owes, he should just go to another bankruptcy again and live couple more months "rent free". Is that even a good advice? The client has "nothing to lose" since he has already had a bankruptcy. 2. When I called the attorney for information about how much is owe the attorney was not willing to share. What is the best way to find out? My plan is to ask for the loan numbers and provide that to title to pull this information. 3. Is there any escrow around Seattle that can close on a subject-2? Also do I need a special sub-2 contracts or a addendum will do? 4. My attorney or escrow wouldn't do these types of transaction. Is it even legal in WA? Also I have a realtor license would it prevent me from getting into this type of transaction? 5. What protection does the seller has if we don't pay the mortgage? What security can we offer the seller? Thanks everyone!

Hi Rich, I am interested and let's talk sometimes this week if it's still available.  Please PM me information thank you!

We have been in a "Seller's" market for the last two years or more, and with the influx of jobs and people moving to Seattle we might not be at the peak yet. I think buying in Seattle City is more or less an appreciation play now; even if there is an adjustment the price in the city won't fall too much in my opinion (unless we have a full-blown recession). I would be cautious about buying too far out of the City. Thinking back I really should have bought more rentals the last 2 years.

Yes it would be easier and a lot less expensive but I am thinking about growing it as its own business, and I wouldn't be the person managing the day-by-day and mentoring the new agents.