All Forum Posts by: Bryan Silver

YoungREI:

Zillow can be spot on in some areas - inconsistent bordering on useless in others.

keiththekid:

DO NOT use a county appraisal as a determing factor of what the market value of a house may be, period.

Case in point, a couple of years ago I was a newbie seeking investment properties in Houston, TX when I came across a prospect I could not pass up. The asking price for a 3800 sq ft home was $150K; county tax assessment $279K. I thought WOW this is an excellent deal. Boy was I in for a surprise. The day I was going to sign the purchase and sale agreement I decided to have a realtor check comps for the street, neighborhood.

Come to find out comparables on the same street only sold for $168K, $174K, $179K respectively. This is a far cry from the $130K + equity I thought was tied up in the property. Needless to say I quickly scraped that deal.

Seckel:

Financing an investment property takes "creative thinking" not creative financing. If you understand what I mean!

Seckel:

There are some lenders that don't require 10% down, however, you have to do your due diligence. One lender that comes to mind is Quicken Loans. If you have above 680 + credit score, Quicken can do a NO DOC stated loan w 100% financing; no down; no income verification; and no assets. :wink:

mrosson:

Like you, I also reside in the Pacific NW. The housing market is on the expensive side compared to the rest of the nation. Only markets that might be more expensive is Bay Area; Southern California; New York City Area. Also, foreclosures in the Seattle Area are difficult to come by for the following reasons:

a) Seattle has a robust economy
b) Highly knowledgeable homeowner base
c) market flooded with savvy investors

Not to say that distressed properties cannot be located in this region, but you have to do your due diligence; require lots of research.

Based on the info you provided, it sounds like you have the necessary funds to cover appraisal fees, order title reports, and cover additional loan fees, however, you just need to find a hard money lender that can fund your project. Only problem, you will have a difficult time finding properties in the Seattle area with an LTV between 60-75%.

Good Luck!

I am a real estate investor located in Seattle, WA. I am searching for a hard money lender with 80 - 100% LTV. I have several properties I am looking to acquire with 20% + equity margin.

If you lend money within these parameters please let me know, I will be more than happy to do business with you.

Thank you dcg123!

Thank you biggerpo!

I would like to say hello to my fellow Biggerpockets.com constituents. Excellent real estate discussion board! Very insightful!

I have been looming around this forum for quite sometime & decided to join the party! It's nice to be onboard

:mrgreen: