All Forum Posts by: Kelsy Soderlund

Hey BP! 

I'm looking for a lawyer and a CPA and/or bookkeeper in the Bremerton/Belfair area and am hoping that I can source them through you guys here on BP! 

Thanks in advance! 

Thanks for your reponse Scott! We'll see how it works out! 

My group here in WA gives you a free first meeting and after that they're $20 each or $15 if you preregister online, unless you become a member for $169 annually in which case the monthly meetings are free. 

They offer a ton of great member benefits beyond the networking and education like a passport unlimited card (Google this), Home Depot discounts, Sherwin Williams bi-annual rebates, classes, weekend seminars/work shops and the list goes on. Basically, the money I save through my member benefits pays for my membership and then some. I even got a nifty t-shirt. 

From my experience, the benefits are certainly worth the cost but that isn't to say the free groups are lacking. I recently partnered with someone I met at a free bigger pockets meetup! 

Hello BP! 

I posted this in another forum without any response so I'm reposting here hoping for a few responses. 

I have a lead on a property that I'm really not sure how to work with. I ended the conversation with the seller once I realised that I didn't know what questions I needed to ask and am looking to fill in the blanks. Below is all the information that I have currently but I get the feeling that I'm missing some pretty crucial pieces.

30 bed 15 bath

10,000 sq. Ft.
Built 1961 as senior housing
45 bedroom septic
9.45 acres
80,000 passing car count in front daily

12k rental income

Asking 1 mil.

Owner purchased in 1965 with initial plan to build 40 houses but zoning laws?

In 1978 city requested that he build a second floor to accommodate additional units (I don't know if this was ever completed)

Could convert to mini storage?

The seller told me about a mini storage property a few towns over that is on 2.7 acres, has a lower car count and is listed with an asking price of 2.5 mil.

The property is currently vacant aside from the seller and his immediate family. The sellers kids moved away so he wants to sell the property and move to Israel.

What else do I need to ask the seller? How do I comp/determine the value of this property? Is wholesaling a viable option with this? If not, should I consider structuring the deal differently or walk away?

Thanks! 

Hello BP! 

I have a lead on a property that I'm really not sure how to work with. I ended the conversation with the seller once I realised that I didn't know what questions I needed to ask and am looking to fill in the blanks. Below is all the information that I have currently but I get the feeling that I'm missing some pretty crucial pieces. 

30 bed 15 bath

10,000 sq. Ft.
Built 1961 as senior housing
45 bedroom septic
9.45 acres
80,000 passing car count in front daily

12k rental income

Asking 1 mil.

Owner purchased in 1965 with initial plan to build 40 houses but zoning laws?

In 1978 city requested that he build a second floor to accommodate additional units (I don't know if this was ever completed)

Could convert to mini storage? 

The seller told me about a mini storage property a few towns over that is on 2.7 acres, has a lower car count and is listed with an asking price of 2.5 mil. 

The property is currently vacant aside from the seller and his immediate family. The sellers kids moved away so he wants to sell the property and move to Israel.

What else do I need to ask the seller? How do I comp/determine the value of this property? Is wholesaling a viable option with this? If not, should I consider structuring the deal differently or walk away? 

Thanks! 

You might even consider, especially if you'll be splitting deals with this person regularly, creating another business entity and stating in the operating agreement how each manager/member will be paid and when. That way when you do deals with them there won't be a need for a wholesaler to wholesaler contract each time. 

Coming in from Belfair! I'm so excited!

and it has been a rough road.

Upon being fired she was slow to respond and waited until I stated I would pick up all documents related to the property in person to take any action. The only documents she forwarded to me (weeks later) were post dated rent checks and a copy of the lease.

We've been writing back and forth sporadically since then (she never answers or returns calls) regarding the security deposits that have yet to be forwarded, however, the last time she responded was April 16th when she said she would have them in the mail by the end of the day. They're still not here.

I'm worried that I will never see those deposits. Does anyone have any advice on how to go about getting them from her? Should I just take it to court?

Thanks!

Hi Everyone!

Does anyone have any recommendations for company that does vinyl lettering for car windows?

I did see one recommendation for Vistaprint but they don't seem to offer a large enough size. I'm looking for something like this.

Any info would be much appreciated!

Do some research on wholesaling. There's a ton of information about it here on BP in the form of blogs and pod casts and it even has a portion of the forums dedicated to it. It still requires at least a couple hundred for marketing and a lot of time spent on education and research. It isn't something for nothing and it, like everything else, has both pros and cons.

There's going to be a BP meetup in NYC on the 14th. I would suggest going and networking with as many people as possible. More info here.

Good luck on your journey and kudos to you for starting out so young! I can only imagine where I'd be today had I started when I was your age.