All Forum Posts by: Kavin Kuykendall

@Steven N. It's a private loan with the owner of the company I currently work for. So its the terms we agreed to.

Thanks for the comment.

Thank you for the encouragement! I've been reading books, blogs and forums, and listening to the BP podcasts daily. My main focus right now is:

1) Network. Realtors, agents, investors, and lenders.

2) Gain confidence in my numbers and analysis, and ability to accurately estimate ARV.

3) Buy my first deal. I really want to get this ball rolling. I know I'll learn more from the experience of my first deal than anything. From what I hear, my chances of success go up exponentially once I've got the first deal down.

Thank you all in advance for the help I know you'll provide me during my journey!

@Tony Wooldridge @Walter Williams I'll admit I'm not great at finding solid, accurate expense numbers yet. I used Windermere Real Estate's (a large PM for the Walla Walla area) current online rental listings and found similar duplexs' for rent. These units seem to be averaging $1000 fully renovated (nice yards, interiors, etc.). The listing says the current income generated by the property is $19200 annually ($800 per month per unit). I believe with some cosmetic cleanup and light renovation the rent could be increased.

The insurance is solely based on the "estimated insurance" given on Realtor.com. So it as well could be completely off. I seem to remember @Brandon Turner saying he found this number to be accurate enough to run the first analysis.

Again, my rehab estimates are my own; no contractor or deep inspection. I am a bit confused as to when exactly a contractor is introduced in the process. Forgive my lack of knowledge, but when can I legally bring an inspector or contractor onto the property? After I make an accepted offer? During a showing? 

I've been reading a ton and listening to the BP Podcasts daily, but without the hands on experience my confidence just isn't there yet. I really just want to get a deal under my belt as I know it will teach me more than anything. 

I am also setting up meetings with several investors and realtors in the area to start learning from the people already in the game.

Thanks

Hello BP! I'm asking for help on this analysis. Anything I overlooked? I am very new to analyzing deals so please, correct me where I'm wrong.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Thank you!

Kavin

Here is an example I am looking at: https://www.auction.com/details/825-valencia-street-walla-walla-wa-99362-2666881-e_11770

I am constantly scouring the MLS for deals and find myself coming back to Auction.com (foreclosure and bank-owned properties). I have never done a deal but feel confident in my education and numbers. What tips would you all give me for buying foreclosure properties? Should I stay away until I have some "regular" deals under my belt?

Thank you all,

Kavin

Nicholas,

Thank you for the help. I did some looking on their website and it looks like I could gain some valuable information. I may try it out.

Thank you again,

Kavin

Travis, I also am looking to get involved in the Tri-Cities area. Should we start a group?