All Forum Posts by: Kobe McDaniel

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $330,000

I made this investment with a partner. He brought the cash, and I provided the sweat equity in getting it ready to rent. We rented back to the owner for several months before placing a long term tenant.

What made you interested in investing in this type of deal?

Listening to the BP podcast.

How did you find this deal and how did you negotiate it?

We knew the owner and they were looking to move across the state.

How did you finance this deal?

Conventional

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am the agent.

Hi @John Serna, I'm in Snohomish county and have seen plenty of condo options in that range. I do also agree with Sherief about HOA's and parking. What area do you plan to live in? Or are you flexible?

Just throwing a shot out there…. Is there a Real Estate Discord that other Investors/Agents/Etc use to communicate with each other? Definitely not trying to take away from this platform but I do think that a discord has its own pros/cons. Thanks!

@Eric Kump Thanks for the advice! I will use the formate of explaining the traditional way of investing vs the BRRRR method!

@Carlos Villegas I’m from the Everett area and definitely recommend looking into the area. Do you know where you’ll be living once you move back? I might suggest getting to know the area you live in.

Hey BP,

What are some strategies you've used when talking with partners/family/others about refinancing a property as apart of the BRRRR strategy? Thanks

Awful situation to be in. Maybe some sort of Cash for Keys scenario? 

Hello BP,

I’ve got a question for a client who is a substitute teacher in the state of WA. Are they able to obtain conventional financing? What could they do to improve their situation, even though they are making good money as a sub.

Thanks!

Hi Steven. Great to have you on Bigger Pockets! I too am an Investor/Agent in Snohomish County and there is a ton of potential if you know where to look. I’ve read multiple Bigger Pockets books and that’s what helped me. Also, I do know there is a meetup happening in December, you should look into that.

I hear that apartments.com has a great and free platform to use.