All Forum Posts by: Kyle Parks

Also think of it as incentivizing your agent to spend his time and money working with you to accomplish your investing goals. This might be a softball for him but think about all the curveballs he is going to have to deal with in the future helping you to find your next deal. 

@Wayne Brooks you are a good man. 

@George Calbert

I just finished @Brandon Turner's book and I am starting the Ultimate Beginner's Guide. The wealth of information on BP is incredible.

Thanks for serving in the military. Hit me up when you get back state side and we can grab coffee or a beer and talk real estate.

I work at Caliber Real Estate and we specialize in helping investors purchase at the foreclosure auction every week.

We have meetings every Thursday at 6pm at our Tacoma office (3711 Center Street) for the Pierce County Auctions were we go over the properties that we have identified as deals. This entails going through the drive notes from the drivers that go to each property as well as talking about the numbers (estimated repair costs, fees, ARV, etc.).

We provide food so drop me a line if you are wanting to come to the meeting so that we can be sure to have enough.

@Paul Miller

In Washington we have Trustee Sales every Friday at the county court houses. The criers (those auctioning off the property for the trustee) call out what is up and people can register to bid. By registering you have to prove that you have the funds to purchase. This can be done by having a hard money lender or bringing your own funds. We have auction reps that bid for our clients but we encourage our clients to be at the auction if they can. Once everyone is registered that wants to bid the bidding begins. Once a party wins the bid they pay the trustee and take the keys.

We have meetings every Thursday at 6pm at our Tacoma office (3711 Center Street) for the Pierce County Auctions if you are ever in the area. We go over the properties that we have identified as deals. This entails going through the drive notes from the drivers that go to each property as well as talking about the numbers (estimated repair costs, fees, ARV, etc.). We provide food so drop me a line if you are wanting to come to the meeting so that we can be sure to have enough.

I like the idea of partnerships and pooling funds but whenever you get into partnerships it can get sticky. Ultimately you should talk this over with your Attorney and CPA because the way that you structure this can have legal and tax repercussions.

Having said that there are many different ways to structure the funds. Here are two:

1) All parties invest in an LLC whereas they are silent partners and you are the manager so that you retain control of what happens with the funds. This takes trust on their part that you will deliver and a solid operating agreement that spells out everyone's involvement and responsibilities.

2) You could have them be private investors and just treat them as lenders. This way you can get a better rate and most likely not have to pay any points. You retain all control over what happens with the funds.

Hello BP community!! I just joined BP a few weeks ago and I have already learned so much. I am devouring the podcasts and webinars.

I am a real estate broker working for Caliber Real Estate. My wife is broker as well and our team/business is Sound Harbor Homes which is within the Caliber Brokerage.

The reason I became a broker was because I was originally interested in real estate investments and I thought that it would be a good way to learn the industry and I would be able to control the purchase and sales of my own investments.

At Caliber we specialize in helping investors purchase at the foreclosure auction and I am surrounded by investors on a constant basis so I see people doing deals and making money all the time. It is definitely empowering to be surrounded by people doing the things that I want to do.

This year I made it a goal to do my first deal on my investing journey so I have been learning tons and getting ready for my first purchase. I am currently creating an action plan. Ultimately I want to own rental properties (1000 units or $100K/mo) but I have been learning about lease options and wholesaling as I feel these would be a fairly easy transition from what I am already doing for clients on a regular basis. Then after I make a good chunk of money apply it toward my first multi-family. I would also like to get into syndication and 100+ unit apartments but that is down the road a bit...or is it?

I am looking forward to the ongoing education and building some solid relationship with like minded people here in the BP community. I am a sponge so any tips or advise is extremely welcome. Thanks for reading my post!!!

I'll be there