All Forum Posts by: Henry Y.

I feel the Seattle area real-estate (including King/Snohomish county) prices has gone up faster than I have ever seen before; the early spring allow so many home buyers to go out to shop and the overall economy and jobless rate has been the lowest (in this area there hasn't been too big of a problem) but the fear of raising interest rate get people to go shopping for houses.  Combined with a low inventory I think we are seeing the highest housing prices ever in this area.  What are the best strategies for flippers/buy-and-hold in this kind of market?  I am really curious how folks in the Bay Area and LA or other areas in the country cope with their rapid raise in housing prices.

I found a great contractor and then I try to find someone better; it's real hard and glad that we maintain a strong relationship with the former.  Someone in this thread mentioned you can't have all three (Price, Quality, and Fast), and I agree; the really good ones that deliver on price and quality are usually booked-up doing multiple projects so they can't be fast; just have a realistic expectation.  But those are the good ones and then we ask ourselves what we can do to be their best Customer so I can compete with other investors for their time.  Also know your foreign language whether it be Spanish, Chinese, Vietnamese, Russian, etc or go to the these neighborhood chamber of commerce and ask for their referrals.

I am looking too!  thanks for starting the thread.  

Hi,

We are in the market to purchase a house to flip; if you have a house that meet these criteria, please contact me:

1. Price below 70% ARV

2. Price below $450K

3. Reasonably closed to the City (Renton, Seattle, Lynnwood, Kenmore, Bothell, Kirkland, Bellevue) or King County and South Snohomish County

4. Construction - mid to huge remodel; less than $70K (just a rough figure obviously depends on areas and locations)

We can pay cash and close within 5 days.  Look forward to hear from you!  

Even if you don't have a house to sell me at this time, I would love to network with you and please send me a note ;-)

Henry

We recently purchased (and help manage) a few SFH rentals in Tukwila and SeaTac area, and you are right about beat-down homes. The ones we bought were REO (I think it had a high foreclosure rates), but there are still pockets of good neighborhoods there (i.e. McMicken). Prices are much higher than last few years (can't make the famous 1% rule), but it was not hard renting the houses out. There are plenty of section 8 applicants and bigger families (compared to N. end) but the houses tend to be bigger there for the same price.

Henry

Hi BP, this is my first post as well!  Thanks @Paul Ritzman for starting this thread.

I am investing in King County and S. Snohomish County, and I'm looking for an investor friendly escrow company to help me with wholesaling.  I just talked to Bellevue Ticor Ttile/Escrow and they can't help me with back-to-back closing.  I will call a few more places but I guess most big name escrows wouldn't support "creative closing".  I will update here when I found a good one, but meanwhile if there is any referral would really appreciate it.  I am hoping to launch my direct marketing to seller next month and want to know which escrow to use instead of last-minute scrambling.

I just wished I found BP sooner and am dragging my partners to join.  Fun!

Henry