All Forum Posts by: Karl Krauskopf

I live and invest in Seattle. I've found that there are still ways to make the 1% rule work.

> 12-unit in Eastlake I bought for $2.5m last year... pulling in $26k of rent/month

> Individual DADU builds cost ~$325-350k to build, and I'm renting them for $3,200 - 3,550

However, I'm also investing in Wenatchee which is much more cash flow friendly:

> 30-unit apartment bought for $4.2m and renting for $38k/month

> 33-unit townhome community closing this April for $6.3m and will rent for $70k/month

Investing in RE is a legacy and the ability to show my kids what we are doing holds just as much weight as the rent checks we net. 

Happy to discuss how we're investing locally. 

@Ashleigh Kilcup I've got some cards in the market, but I'd take @David Clinton III on his offer to connect.

@Charlie MacPherson no doubt about it, what I wrote in haste was wrong!  Backside of it was my personal agent gets her commission on the front (built into loan as an acquisition fee) and back end (as listback).  What I intended to convey was to the seller there was no 6% such as a traditional "cash offer"

Great feedback that I'm heeding: move on to the next property, wait for them to come back to me with interest, check back if/when listing expires, and most of all don't post with half-baked details which inevitably will come across as poorly messaged - this case distorting my moral compass.

All good feedback, certainly not trying to do anything or come across as shady. I’ll leave this one alone and onto the next one

@Brit Hale

I think that’s the unfortunate truth I need to hear. Great subject property

@Frank Jiang

Fair point with the info I setup. Additional context is I believe LA is misleading the owner on price. The property is not a “fixer” or “sweat equity” as it’s marketed. Also, LA has he owner on a 100% lips sealed basis. Any basic question is “my realtor said I cannot speak with you”

@John Thedford

I never mentioned anybody being unlicensed. Listing agent and buying agent are both licensed. I want to go direct to owner and buy direct

Hi BP! I have a subject home I'd like to purchase AND flip, but my question to the wholesaling experts - is there a way around the listing agent to close directly with the owner on a cash/hard money basis? Caveat is I've already toured the property with my buyers agent via the MLS.

My listing agent, who i would sell with after I flip, is saying that I may still owe the listing agent commission given that he may have been the “procurement cause.”

Ideally I want to get around the 6% commission on my buy side and purchase for less than what it is listed for on MLS.

@Sherelle Montague

Welcome! It’s an obsession that quickly becomes an addiction. Soon, all you can think about even during weekends and especially during your W2 job!

I'm in shoreline where we own our primary SFR. Made quite a bit of equity and bought a duplex in Spokane that's cashflowing quite nicely. We're actively looking for 2-3 flips and 2 multifamilies in Everett, marysville, and several pockets in Spokane this year. Happy to connect and share my lessons learned! DM me if interested.

Hey, Angie!  I saw you were going to be at the brew meetup in Greenwood tonight that was just rescheduled for early March.  I'd be happy to discuss my early success and doubling down on the Spokane market.  Technically, not "out of state" but certainly far enough that you can't drive to fix something.  I'd be happy to share my network, too.