All Forum Posts by: Joey Shevelson

Thanks @Andy Campbell. A full teardown project is beyond my expertise, but if someone is going to take a run at it I'm interested in partnership opportunities.

Mostly, I was hoping to get some perspectives from the community on whether this listing had any potential, so thanks again to everyone on the thread for sharing!

Thanks for the thoughts, guys.

Paging @Ryland Taniguchi. Anything to add?

I just noticed this on Zillow and I bet someone on here might be interested in a flip:

http://u.zillow.com/p3K0fV/

I'm posting this because I live near this listing which could make it relatively convenient for me to partner with a more experienced investor and provide some boots on the ground project management as well as capital.

I've been on the sidelines for the last little while reading up and saving up and I'm ready to jump in and start building experience.

If nothing else, I'm interested in what forum watchers see when they look at this property. Here's what I see: obviously in really bad shape so the rehab budget would be high. On the other hand, a 3/1 in this neighborhood should be at ~$450K minimum so there could be some room to maneuver on a $200K list price. Lots of houses around there are getting major updates and renovations, so a full tear-down and re-build of a larger home could be viable too, though that is way outside my ability to eyeball.

My other initial thought: I'm surprised to see something like this publicly listed. I would imagine in an active market like ours someone would have locked it up wholesale for a flipper.

Again, I'm interested in hearing impressions, and if anyone is going to seriously take a look I'm open to discussing partnership opportunities on it. I'll be keeping an eye on it either way since again I happen to know the area very well and it should be an instructive test case.

@Alex Chin and @Mark Nolan: Thanks for the tips!

Hi guys, thanks for the warm welcome.

@Mike C.: It sounds like we have some overlapping interests. I am looking to get started in King County, yes. I will try to make it to a meetup sometime soon. Is there one you go to that you would recommend?

@Joe Fairless: An overarching goal is to qualify as an accredited investor. Since that can be achieved through income or wealth, a variety of strategies could be appropriate there.

A more specific goal is to partner with an experienced investor to acquire one cash-flow-positive rental property. I see this primarily as an opportunity to gain experience and build my network.

Hi BiggerPockets!

I'm a Seattleite, and while I have a few RE transactions under my belt, I've only recently changed my mind-set to that of an investor. BiggerPockets has already been an invaluable resource for me, and I'd like to thank you all for being so generous in sharing your hard-earned wisdom in the forums. So many of the questions I've thought of have already been asked and answered.

I've created some goals, and I've given some thought to what I would be able to devote to REI in terms of capital, time and talent. I'm looking for relatively passive strategies because my day job as a tech consultant (which I love) keeps me pretty busy. I'm very interested in meeting other local REIs to continue learning from others and to explore potential partnerships.

Thanks again; see you around the forums.