All Forum Posts by: Jordan Radke

@Jonathan Greene

Awesome, thanks for the info!

@Chad Urbshott

Thanks, according to the documentation I see, the loan amount plus owed amount is relatively low in relation to the value of the property. I'll keep looking into it. Thanks!!

@Chad Urbshott

Thanks Chad. I've been doing some reading. Is this a situation where I would likely need to pay the bank off before even being able to talk about a sale? I'm other words, it couldn't be done in one financing transaction?

Does anyone have experience purchasing pre-foreclosure properties? I recently found a nice piece of land that is set to be auctioned in July according to the bank documents. Looks like the loan is held by Wells Fargo and they are like $26,000 behind in payments. What would the strategy be? Is this possible? Would I approach the owner or the bank? I would love any advice. I figure I will also talk to a real estate attorney, but thought I'd start here to see what others have experienced. Thanks!!

Hi and welcome! I'm in Lynden, nice to meet you!

@Jordan Radke. Full text can be found here: https://app.leg.wa.gov/billsummary?BillNumber=2779&Initiative=false&Year=2019

I know @Brandon Turner is from Washington, would love to hear your thoughts on this new bill!

I recently saw another BP member post about House Bill 2779 in Washington State. Sounds like they were planning to completely get out of the WA market due to the upcoming changes. It looks to me like HB 2779 is state wide rent control. What do you all think? If you are here, are you getting out? I'm. Just getting started, but thinking I really, absolutely need to look out of state for all my rentals now. Looking forward to discussion.

@Ashley Swanson.

Hi Ashley! I'm also in Bellingham. Nice to meet you. Are you currently living in the property? If you aren't, I think you would have to refinance with a more conventional loan. You are right, it can be tough to make the numbers work out in this area. Nice job on getting a duplex in town though. It will be a great long term investment for sure.

@Joshua Top. No worries, I think maybe we will shoot for January.