All Forum Posts by: Josh Norris

Sean, Send me over the details: [email protected]

Hey all, its been awhile since Ive been on but I need some of the experienced investors advice or suggestions. I have refinanced houses before and have never ran into the problem of a quick transfer from my LLC to my personal name

In reference to this guideline for cash out refinance:  
The borrower must have been on the title to the subject property for at least six months prior to the note date of the cash-out refinance mortgage.
I typically purchase my properties in my individually owned LLC. If I go to refinance I will have to transfer out of my personal name. Can you let me know if I would have to go through another seasoning period if I transfer the property from my individually owned LLC to my personal name? This is in regards to making it freddie mac/fannie mae eligible.
Thanks all

Hey all, is anyone able to refer a commercial agent that will actually return calls and work?  I have reached out to hand full of commercial folks and it seems they are all making plenty of money already so don't have time for new clients. Looking for specific retail locations throughout Washington, price depends on which part of the state it is in.

Thanks

@Sonia T. My first am experience was with their Seattle office.  They actually canceled the closing so that was as far as I got.  I was going to use their in house escrow, ended up going with Rainier based on a mortgage broker friend referral, Rainier got it closed very quickly.

Rainier Title in Bellevue is great.  There is also one not on your list that has worked well for me, WFG National title in South Lake Union.  I would steer very clear of First American, my experience was hell, to the point that they told me they wouldn't close because I was getting too good of a deal.  They have no experience dealing with investors.  Good luck

@Justin Brown I would check out uslegalforms.com.  There are state specific forms on there and I've closed multiple properties using them.  I have ran them by my attorney to fine tune going forward but with the help of a title company you can definitely get this done on your own.  With you being out of state through the cost of using an agent may be a good way to go so you can assure everything is taken care of and save yourself a trip.  Docusign is a good option as well for getting the contract signed if the seller has a little computer skills.  Good luck

@Vincent Crane I by no means have the experience that some of these guys on your thread do but what I can say from being in a very expensive and low inventory market, Seattle, the MLS is very picked through and . It may be time to look at doing some marketing on your own (mail, door knock, signage, phone calls etc.). When reading the threads and seeing that everyone with a pulse is now an investor it may look like it's not possible but it really is. The majority of people doing marketing stop after the 2nd or 3rd attempt, I know because I get the mailings. I have been doing my own marketing for a couple years now and while I am not a big investor I focus on getting one great deal a year and a few smaller ones. I just closed on a house in one of the most expensive areas in King county, I was able to purchase it for 290k with a current value of 450k. I put very little down and was able to have them carry a note for a short time while I refinanced. It is a mess and needs some work but is in a class A neighborhood and is livable as is. My point of all this is persistence and drive will pay off. Focus on home owners that need to sell now, they exist regardless of what the market is doing. Good luck man you will find something, just don't give up

@Jay Hinrichs Wow, thanks for sharing Jay.  I will have to say that is a true relationship with you banker.  For them to stick by you through the economic problems says a lot.  I'm sure there were many that thought they had a "banker friend" only to watch them disappear when times got tough.  Off to search for a community bank up here near Seattle:)

@Jay Hinrichs  Makes sense once I looked at the profile.  

Are you talking about credit unions when you are talking community banks?  I am looking at rolling my rentals into a portfolio loan but haven't been real proactive on it yet.  What are your thoughts on why or why not hold them in a portfolio loan?  Diversity never seems like a bad thing by going with a  few different banks, then again the bank relationship could be stronger if you allow them more of your business.

@Jay Hinrichs  Thank.

@Richard Scholtz  I guess I should have noticed that you were a lender, got caught up in the conversation and didn't look.  Would have been interested in your services had I known.