All Forum Posts by: Joe P.

Congrats man! Bless you for being able to do it long distance. I need to have way more in-person control than that to even feel comfortable, so good on you. Hope everything pans out with your appraisal, refi, and operations! Keep em' comin!

Originally posted by @Jay Hinrichs:

Originally posted by @Account Closed:

Originally posted by @Edit B.:

@Mike Baxter

What a low quality reply is this... You guarantee what?? 

Sounds like you left the state and now are trying to pigeonhole every problem everyone else is having into whatever the hell you were dealing with

Heh, heh, heh  . . . It's interesting that everyone here is an expert on landlord tenant lawsuits in Seattle and yet I'm the only one that actually owned properties there (for 20 years) except for the original poster. This will be most entertaining if he follows people's advice given in this post. Two of my attorneys moved out of state, one to Montana and the other to Texas because of the lopsided rulings.

Let me point out two things:

1. Someone from a social agency found her and directed her to a free legal service.

2. She's nuts & Sec 8, so logic does not apply here. 

3. Law is not about justice, it's about who can convince the judge best. A lawyer will beat a novice every time. 

D. It looks good in the local Seattle newspaper when a tenant beats a landlord and the law school gets free reviews and believe it or not, they get paid for providing "free" legal service in a case like this.

Why do you believe things are "fair"? Don't you see what's going on around you with eviction moratoriums and no need for tenants to pay rent? 

Guess that doesn't bother you.  

 To each his own. I've got my popcorn ready for the show.

As Willy Wonka says "the suspense is terrible, I hope it will last".  Let's see how things turn out.

 However if its truly small claims court there are no lawyers..  Not free legal aid or any thing like that you know that ..  its just the made as hell tenant and the landlord .. agree watch judge judy for how to compose yourself at small claims court.. 

My wife and I watch Judge Judy every night. Not only is it entertainment, but I feel like its extremely loose prep for the eventual court case that will be brought against me in this business...

Joe - always appreciate your smart insights. This never even occurred to me, but as someone who studied mediation in HS/college as what was thought to be a side-gig, this makes total sense. It is indeed mediation, its meant for both parties to compromise. Compromise makes sense if both parties are at fault, but if you truly believe you are in the right, then your opening position should match it. 

Hi Joe, I'm going to send you my mortgage guy's number via private message. He works with Allied Mortgage and has done two standard refinances and one cash out for me.

The concept of "my team" is absurd. "My team" assumes that you are building a roster of employees or contractors who work directly for you. You don't even have a unit to your name yet you want to surround yourself with a softball team...for...what reason?

And if someone calls me saying they want me "on their team" - what's the goal of this team? What do I get out of it? Everyone knows if someone calls to build out that team they have zero clue on what they're doing. Some book or guru told them to start building a team, and then they found me. Whoopdiedo.

The more appropriate approach is to think through every step of whatever process you're trying to accomplish -- lets say for argument sake, a BRRRR -- and who/what you might need to accomplish it.

• Finding a deal? You need an agent, and/or wholesaler. Start searching for wholesaler lists in the area, and maybe check in with a local REIA for meetings (zoom or in person). Start to build a relationship with other investors; perhaps they work with an agent who is "on your level"
• Evaluating a deal? Same thing -- local REIA. I have a few investors who I've built a relationship with, and when I have a deal (or think I have a deal), I run it by them. I usually omit the address and fudge a few numbers if its a MLS property to avoid potential competition, but we all want to see each other succeed.
• Evaluating/performing a rehab? Same thing. Went to a local REIA and met a few contractors. One I selected for my personal home and other for my BRRRR.

Seeing a pattern? Calling someone up to "add them to the team" is nonsense. You're cold calling. I'm surprised you found anyone to begin with.

But, getting involved locally with other people with similar mindset, you might start to run in these circles, which usually are incredibly tight. The same 15-20 people start showing up and they all do different stuff -- lending, agents, rehab, maintenance, property management, etc. 80/20 rule applies -- 80% of the business in this area are being done by 20% of the people.

Put down the phone and start looking for local meetups. And drop the concept of "building your team" -- understand who you need and what you need them for, pay for their services as appropriate, be courteous, fair, and prompt, and you'll start to build the necessary relationships to help you succeed in this business.

Thank you my friend! Color choices are essentially the same I have in my home -- we use Sherwin Williams "spare white" which is a really nice, light gray color and it makes trim, cabinets, and appliances absolutely POP. And I've got buckets for touchups in every property.

Hi Owen -- yep, a CO is a certificate of occupancy which is required to rent a unit to a tenant in many towns. Usually the city has to inspect a property to verify it acceptable to rent. If you don't get a CO and move someone in, the city could fine you or levy penalties. In my opinion, while these towns can be difficult to work with, any good relationship is better than none or a negative one. So every time I stop by their building, I try to be as nice, accommodating, and patient with them.

@JD Martin thought I would key you in on my post if you're bored!

Cody, hoping to join and meet everyone! FYI, not sure if there is an opportunity to move, but I know there is a SJREIG meeting the same night/same time. Not sure if those folks would conflict with these, but just thought I would mention.

First, thanks for your service. I used to work with a company that would commission the ROTC and Service Academy initial medical examinations (DoDMERB) and the respect that I have for you young brave people grew daily in that role.

Congratulations to you and your team on your success. As an older guy (older than you, anyway), even though you are doing amazing things, at 24, I know what was on my mind...and I would just caution you to remain as grounded as possible. Other 24 year olds have tons of debt, might still be living at home, working hours they shouldn't for pay that's lower than dirt. You're well on your way of "having it all" -- so remember that living below your means is always the recipe for long-term success, conservative numbers on deals mean you might get surprised with a home run instead of being worried you're a singles hitter, and life comes fast...so always focus on family, respecting yourself and others, and treating your business like a business. Good luck moving forward!