All Forum Posts by: Justin Frank

If you are looking for MF property management get a hold of Greg Davis at KW Realty. He is awesome and they manage a ton of units in the area. They don't manage SFR

@Isiah Williams

Personally I feel that buy and hold is the best way to go. As long as the "buy" cash flows you will be producing income for as long as you own it. On the other side of the wholesaling is a great way to produce capital to purchase you buy and holds. Unless you have a high paying job or a large amount of capital saved up you will run out of money really quick with buy and hold properties in Washington (unless you BRRRR). I have debated wholesaling just to build capital so I can purchase more buy and hold properties. I currently have properties in Thurston, Pierce, and Lewis County.

@Tom Scott

I second @Michael Wagner comments. As far as how much you can expect to make per square foot is very dependent on the market you are purchasing in. Where I’m at in Washington State (Thurston county) we get $1-$1.30 per sq/ft. Travel up further north towards Seattle and that number will double. Travel south to some more rual areas and you will be below $1 per sq/ft. 

@Isiah Williams I have pondered the idea of trying to wholesale in Wa State as well. I think if you have good marketing/lead generation then wholesaling would work in most places. Can’t think of why it wouldn’t work in the PNW. The only road block I see is that nobody needs help selling a home in the PNW right now. Especially if it is a deal. Post a home for sale that is even the slightest under value and it has offers in hours. 

@Jon Passow  Find a great deal and use other people’s money. There are lots of different strategies for investing with little or no money. At the beginning of your investing career you have to be creative and dynamic. Especially if you have little or no money. 

@Erik L Ostlund I would seek out a good real estate agent. They will be able to help you with your search criteria and find a lender in your area. 

@Joshua Watts 

Love the posts. Your journey is very inspiring and creative. It makes me want to be your best friend lol. 

Hi @Andrew Postell

The interest rate i received have been right on par with what a used vehicle loan would be. My credit union just treats it as a refinance. They will loan up to 100% of the NADA value. Of course the closer you get to the total value of you vehicle the rates will go up but if it comes to being dynamic when purchasing real estate I have found this is a great strategy. This most recent refinance on my vehicle I took out $30k (90% LTV) at 3.99% for 72mo and the only fee was about $120 for a title transfer back to the bank. I will only have this loan with my credit union until the end of summer when I will be able to pay off or finance back out so I will have a very small amount of money that's goes to interest. To me it is a great purchase vehicle without diving in and tie up my liquid capital. I'm sure there are many different opinions on this.

Hi @Justin Reid

I have done this several times. In fact I own my truck outright and two weeks ago i pulled out a loan against my truck for a down payment on an investment. Auto loans are cheap so to me if it gets you into a solid investment it is worth it. I generally will hold the loan on my truck for down payment for much less than the actual loan term so I don’t pay much interest. I would say it is a great way to come up with a down payment. Just make sure you have a plan, and you aren’t over leveraged to where you can’t not afford the monthly payment. Good luck 

Hi @Cody Dunivin

Are you talking for purchasing to buy and hold or to list and sell similar as an agent would do? I can’t give you accurate info on selling but if you are buying to hold and manage I can’t see any reason you would need a license.