All Forum Posts by: Simon Wold

Thanks for the input @Michael Wentzel!  I like your advise on scheduling all the interviews in one day. Definitely something I am going to do in the near future.

Hello All!

I am fairly new to REI, but plan to make it my full time job in the next couple of years. So far I own a SFR in Maple Leaf, and a rental condo located in Federal Way (foreclosure purchase). I am going to be selling the SFR and using the equity to kick start my multifamily investing career. My goal by the end of 2015 is to purchase a duplex via an owner occupied loan, and purchase a 5+ unit that I can perform the BRRRR strategy on.

I've been researching local markets recently and it seems like Tacoma is the best option for me.  One problem, I do not know the market there!  I am looking for a broker that focuses on working with multifamily investors in the Tacoma area.  Knowledge of the local market is key! Also looking to connect with any wholesalers in the area.  If anyone has any advise or experience investing in Tacoma that would be much appreciated too!

I have also joined several local real estate clubs in hopes to build the perfect team.  Anyone have any clubs they would recommend joining?  Want to make sure i'm hitting all the good ones!

Regards,

Hans Wold

@Account Closed it looks like Bob has some hatred against you!  If it was me, I would discuss with the grandma on what her goals are. Does she want quick cash? Does she want to pass these properties onto another family member in the event of her passing?

If it was me,  I would 1031 exchange and leverage my money, but then again I am young and can afford to bounce back if everything doesn't go as planned.  Sounds like you will put in the due diligence and steer her in the right direction based upon her needs and wants.

Good luck out there!

Leonel Castellano The condo I purchased is in Federal Way so I do have some experience in that area. It was by no means a fun drive when I was fixing it up, but it is cash flowing well! I signed up for the REAPS meeting on the 28th. PM me when it gets closer and maybe we can meet up! Hans Wold

Hey Leo! I am also living in Seattle, WA and looking at buying a multi-family via an owner occupied loan. I bought a rental condo on foreclosure at the start on the year and so far I'm loving real estate. Some questions I have for you: 1.) I am currently choosing which local city I am going to buy in. Are you concerned about cash flow or appreciation? It seems to me that cash flowing anything in Seattle is going to be hard due to high acquisition costs. What are your thoughts? 2.) What local real estate group are you looking into? Also what is the expo in July called? Interested in joining one as well. Thanks and good luck! Hans Wold