All Forum Posts by: Margo CLayton

Thank you So much for the responses Steve Vaughn & Brian Gibbons!

Every response is a great way for me to learn and a confidence builder. 

Lol I'm not in Cle Elum... Im not sure how my not-so-talented-self got that on there. I don't even know the zip there. I've been there many times. But know nothing of its real estate except Suncadia. 

No I'm currently in Selah but I tend on investing in Puget Sound. 

Yes, I did learn from this home... I decided to replace instead of repair 2 sheets of drywall on the kitchen ceiling, had I to do over, I would have patched. 

Thankfully, the carpet was fairly thick with good padding there was superficial stains we were able to clean and prime the floor. But to  haul the carpet away I hired a person by word of mouth and this person dumped the carpet in an empty lot. Driving home I saw it and couldn't be responsible for the mess. So the next day I got a Uhaul and with the help of my children cut it into manageable pieces and hauled it to the dump. The person who did this wouldn't answer the phone so it cost me what I paid him and extra time... The time was the biggest issue. We had the home sold and a tight schedule. 

To Mario Mormile & Dave Visaya,

Thank you so much for the welcome... It has given me a sense of the start of what I believe will be a beautiful relationship on BiggerPockets. 

I am so excited to get going and the knowledge in BiggerPockets is mind blowing! What a fabulous place!

I am still learning to navigate this site so please don't feel slighted in the order of my response. Again, thank you from the bottom of my heart for the welcomes...

It has given me a great boost of motivation!

Thank you so much James Wise. 

Walking into this home was just difficult to do, due to the stench. There was feces on the carpet and wall. The carpet was urine soaked. I believe this is what brought the cost down and the ability to do some mainly superficial work and clean, clean & clean! Allowed a two month project to yield a profit over $20,000. Once the house was clean... The smell gone, we began showing it. Due to the affordability of the home it sold before we were done. Having 10+ of these a year (this was 14+ years ago) would make a fairly easy $200,000. A year. That sounds like a good place to start  lol

How far out are building permits in King County Washington? This was a big factor why we stayed out of King County. 

This is all so fascinating. Yet a little scary for me just trying to step back into the rehab market. The cost is way different and I need to get back up to speed before trying too step in. Does anyone have suggestions on reading material for someone that's been out of the industry for 15 years?

Could any one give me advice on Washjngton state Hard money Lenders they enjoy working with. I have worked with a few different in Yakima. They no longer are in business, I only assume they are no longer in business because they were older Gentlemen. 

And a coupe in Puget Sound. However, I want to hear about who's out there and their criteria! Who you reccomend. 

Please excuse my spelling mistakes and I am not from Cle Elum. I am from Selah & Puget Sound area. 

I love developing... Short platts is much less complicated then a long platt.  Obviously, but there is something about creating a new parcel and building on it and selling. I always had great pride in our homes  & remodels because it was built with quality in mind and affordability... That's not always possible. But mainly the construction was done by my Dad & Brother. I did work on the homes but mainly I was out looking for the next projects, costing them out and getting financing. 

I then was A Supervisor I enjoyed a lot. Owner Contractors, I managed the subs and cost pricing projections. But the homes we specialized in were ones on Lake WA... With a driveway bridge (essentially). The homes built on slopes or sides of mountains with sheer walls and special engineering. I love to learn and appreciate a challenge. I guess that's why these projects were fun and stand out. 

I also rehabbed houses... When you could buy a house that was high $30,000. Or $40,000. And mainly just needed superficial repairs and major MAJOR cleaning. The last I did was on J Street in Tacoma  it took two months and we made  a bit over $20,000. But when we went in there was feces on carpets and walls. I honestly think that's why no one picked it up... But that's when you suit up and mask & gloves. And rip up carpet. Brush down the walls sterilize and prime and paint after patching any holes in drywall. Have someone install new flooring and counter tops. We did replace to sheets of drywall on the ceiling... I learned a lesson there. Use tools that take the weight and stress of your body. But there's ones we worked on for longer and made less... It's those I want to avoid. Lol The J street was my last I did before injury  

I have been in the RE Business but was in a car accident. My health is back and I can start a new career or do what I love! REAL ESTATE! 

My grandfather helped build Grande Coulee Dam and my Brother just retired working on the 520 floating bridges and the pontoons (amazingly interesting project) while I find it fascinating, it's way out of my league... LoL!

My father has been a contractor my whole life and I have been a General Contractor & Realtor. I started keeping my Dads books at 15. 

However, I feel with the extensive time out I want to start as though I never was involved in RE. Because construction is such a volatile market I believe things have changed a lot and I want to walk in prepared. Your advice would be GREATLY appreciated! 

I feel I would like to begin with a hard money lender. Flip a few projects and go from there  but that is something I am more comfortable with and would get the money flowing... Atleast that's my plan. What do you think? Really would like to hear from you!

I want to move in with knowledge, that's why I'm here at Biggerpockets, then a plan & I'll be ready to execute it! 

Just the idea of working with RE gets me excited! I used to say "I'm addicted" and I believe it still holds true. Please I am a sponge ready to soak in your wisdom... So don't be afraid to give me everything you have that is constructive! I'm not hard set on how to move forward...

I thank you for taking the time out of your day to help me... You are greatly appreciated!!

Sincerely

Margo