All Forum Posts by: Luke Redford

@Julie Marquez is that investor or owner occupied? If investment what bank/LTV?!

I'd love to be a part of one as I'm relatively new... however I don't know of any personally. I'm looking into Marysville/Everett as well

Hoping to make it down after work!

Just wanted to "Bump" this thread... I also am needing a handyman to do some small repairs at my rental (window needs to be fixed, some trim work). Hoping to find someone that I can call on when needed... does anybody have any leads? (Unit located in Shoreline area)

Thanks!

Thanks for all the input @Marco Santarelli

I get for the most part what you are saying. And I understand that different markets have different forces for different types of prices, I guess my main concern is knowing all the details without actually living in a region, if that makes sense.

The main reason I would like to diversify into real estate is because yes, I do feel paranoid in having little-to-no control over my stock investments, so I would like to go into something much more tangible, and since I don't have the time to start a business, real estate seems like a great idea. Looking at the math I get why it's a great investment, so now it's down to the details. I guess investing out of state has the same feeling that mutual funds do to me, trusting of other people to give you correct info that your money is in the right place. Obviously not the same as there is direct ownership, but still, the idea of a need for advisors (for a beginner) worries me. You must do due diligence on people as well as the building

Is there a link/explanation for the due diligence your clients go thru when buying from out of state? How do you know if it's a good area? How to find reputable inspectors/appraisers? How do you trust charts that the rent will be sustainable? I guess these are some of the worries I have when I'm not able to go walk around a neighborhood that I've grown up around, and knock on a building ;)

Obviously any investment has risks, and local investing has it's own risks that come with slim profit margins, I guess I'm just looking for opinions on how people have overcome the fear of the risks that come with non-local real estate

Sorry if this isn't making much sesne ;)

Hey, I'm looking to start investing in real estate and a little unsure of where to start. I want to do long term buy and hold investing of rental properties so that I can have an additional stream of income at retirement. My Goal is to buy 5 properties and have them paid off in 30 years (Very mediocre but easily achievable for me). I live in Seattle and was looking at investing outside of the city (Everett, Marysville if you are familiar) but am curious about out of state investing as the numbers often work out better.

To get to the point of my question, how is a beginner supposed to invest out of state? I was looking at investing with a turn key company (Norada?) as it seems like a good starting point, but I get nervous about essentially trusting a company and then a property management company. Is it better to find a deal where it will barely cashflow (after vacancy & maintenance reserves etc) in a place where I know? Or go afar and try to buy something out of time. I might be able to do one trip to look at it but I can't go back and forth due to work, anyone else paranoid of investing out of town? Thanks