All Forum Posts by: Kim Martin

I have consulted an attorney to do my due diligence, used a title company and also visited my local county clerk to see what’s on the title. I have purchased one Sherriff’s sale property. In my case, the property owner was incarcerated and there was a window of time where the family members could come forward to claim the property and I could lose the money I put in for repairs. That did not happen but it was a calculated risk I was willing to take. Please feel free to reach out if you have any questions. Best of luck to you!

@Rafael Ortiz in Washington State, I believe, a real estate Brokers license is required and 3 years experience to manage other’s properties. It is not required to manage your own.

@Rudy Manna I am an investor in Wenatchee, Entiat and Pateros. There are many areas that Cashflow nicely over here. I would be happy to help you. Please feel free to reach out if you need any help.

@Rudy Manna Try Peoples Bank, family owned and they LOVE to help us investors.

I would try your local community banks and credit unions. I worked at one and we would do loans like yours as long as the numbers worked, appraisal was completed and credit was good. We also often requested customer to start banking with us. Be sure and talk to a commercial lender in the branch. I think if you can do the legwork, you can get a better rate. Best of luck to you. 

I have also used my own cash or a Home Equity Line of Credit or HELOC.

@Vasily Rassokhin I agree with your findings. I ended up investing 3 hours away in Eastern, WA while working my W-2 job in Seattle. Yes, you can purchase a second home with FHA loan; rinse and repeat. I was able to retire early. You are doing everything right. Keep going. You will find a market where the numbers work and can be very successful. If I can be of further assistance, please reach out. All the best!

@Dane Larsen my daughter is up there going to Western Washington University. You are smart to invest in that market. I can say that the college housing market is a profitable niche. Please reach out if I can ever be of assistance.

Hi Ebony - did you check to make sure there are no liens on the property? What is the amount you would be providing? If you don’t see equity there, I would not do the deal.  Does the home need work? Have the homeowners moved out yet? 

Antoine - I have only had luck with small community banks and small credit unions. Best of luck to you.