All Forum Posts by: Justin Delahoyde

@Bruce Lynn Thanks for the reply. This sounds like the best place to start as of right now.

@Robert Freeborn I grew up in the area. Trying to focus on Buy & Holds. trying to acquire through creative means. Wanted to see if anybody on here had gone through the Washington process. there isn't alot of good information that i have been able to find. 

Hello,

I am looking for information on the process of Washington Tax Auctions. I understand some of the first steps, but would love a good overview or somebody to have a deeper discussion on. My local area consists of Whatcom, Skagit, Island and Snohomish Counties. I know that some are online now as well. That there is a redemption period for minors and disabled, and that funds are due at time of auction. However I am curious about what happens after. I through researching am seeing that WA is a tax deed state. however i want to get a good understanding of what i can expect. do i get property right away or do i need to do the Suit to gain control. can i get title insurance and if not what would that open me up to. Can i take ownership in a legal entity. Am i missing a question that i should be asking. Would love to hear from current auction attendees or a legal opinion.

Thanks

@Chris Coleman & @Subbie Kaur,

Thanks for the replies. Is there a good aggregator of information, or a few sources that can be cross checked to form a good idea of a market or not. Sabbie, I dont have any one specific market at this point i have talked to a few other members about some of the popular locations such as OKC, Memphis, and parts of Texas. However i don't just want to choose a place because everybody else is there. I'd like to be able to back it up with some hard numbers.

Hello,

I have had my membership for a while but this is my first post. So down to business. I live in WA in the shadow of Seattle and Vancouver B.C. Prices here are extremely high. I am trying to select an Out-of-state market to focus in. I am leaning towards the Midwest and the southeast. I am hoping to finance this through a 50k HELOC that i already have (or other creative ways). I am looking for a property that cashflows ( appreciation i am factoring at 0). I believe that a BRRRR would be best to try and reclaim some or all of the heloc $. My wife and I have great credit and am not worried about getting a loan. I am trying to find a way to select a market or ways to narrow down my choices. Selecting a Team in that remote location will be part of my process as well and i look forward to working with). Property type would most likely be SFR or small-Multifamily. If there is anything that might be prudent and i have omitted it please let me know.

Thanks - Justin

I like the humor idea. However you might want to pass. if something ever goes to court you dont want an angry or confused judge could make things worse for yourself.

dependent on your level of risk. depends on state fees as well. CA has very high LLC fees so some find other ways to do it, such as LP's. Many in single LLC though do it in a way to make their lives simple, For Example 123 Main St LLC etc.

@Bret Treadway you have many choices. FHA will work with either, Single family or multi family. there are USDA loans for SFH and (i just learned) MFH. but you need to live in a rural area. However USDA loans are 0% down. If you go with a MFH you can live in a unit and rent the others out.

@Shamsul Chowdhury First not a lawyer. second i have herd some people will create a land trust, and then have then beneficiary of the land trust be an LLC. Banks are much less likely to be worried because most land trusts are estate planing tools.

@Alyssa Dyer i have herd the same about the taxes there. even mentioned in the podcasts etc. It seems that if you are going to look there you have to take extra precaution about it and perhaps call a CPA in the state to get a better idea of what a person would be in for.