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All Forum Posts by: James Wesley

James Wesley has started 24 posts and replied 71 times.

@Erin Wicomb ROCK ON!!! Great work! How were you able to identify that Master Lease?

Post: New Partner Steps (Fix n Flip; SFR)

James WesleyPosted
  • Seattle, WA
  • Posts 73
  • Votes 13

Hey there, what are the things you like to get lined up prior to executing a contract on a property with a new partner?

@Darla Smith "on her discount"...usually there's a contractor markup they apply. I might get their list of materials and go to the Contractor desk. I know Lowes provides discounts if you purchase over around $2500 worth of goods. I got those discount when I personally gutted my basement. Cheers!

Post: BRRRR calculator error???

James WesleyPosted
  • Seattle, WA
  • Posts 73
  • Votes 13

I have a report on a 4-plex that I am interested in, but the cashflow amount doesn't change when I change the amount that I am putting down on the purchase. I even swung the down payment rate wildly from 50% to 3% and there's no change to cashflow...weird, no??

@James Ma I heard people are getting pushed out of Vancouver and Chilliwack is a viable option for reasonable property purchases. Do you find that the rental market is following suit? Meaning, are renters getting pushed out too?

Originally posted by @Jared W Smith:
Originally posted by @James Wesley:

@Dean Johnson Start with the cheaper route and go to the city planning department or county planning commission, depending on the jurisdiction. They'll help you get on your way and even look at a particular parcel with you.

I always find it interesting when people recommend against utilizing an architect or engineer due to cost. The saying goes don't be a penny wise but pound foolish. Even if he were to attain this information from the planning department, the poster does not seem familiar with building or construction, therefore will not know were to go from there. He's going to need someone to help..    

I was a City Planner and that's their role to support folks with initial permitting and zoning guidance. I am not saying that there's not any value in going to an Architect/Engineer, but my initial questions always go to that Dept first. If I want to dive deeper, then I can contract with an Architect and put money down.

@Dean Johnson Start with the cheaper route and go to the city planning department or county planning commission, depending on the jurisdiction. They'll help you get on your way and even look at a particular parcel with you.

I am looking to learn more about the Tri-cities area in Washington and possibly start up a relationship with a realtor that focuses on working with investors. Any recommendations?

Do you have a roofer and/or handyman that you can recommend in the Dallas, TX area? I am looking for each to establish a relationship with.

Another one could be large international companies with long track records, like Microsoft or Boeing?