All Forum Posts by: Naomi Pinger

Here are a couple of more sites:

https://www.rocketmortgage.com/learn/va-construction-loan

https://www.veteransunited.com/valoans/va-construction-loans...

Hello Shawn,

Go to this site and see if they can help you.

https://www.woodlandsmortgagebank.com/zero-down-va-construct...

Please post back if they are a viable source.

Good luck and thank you for your service.

God Bless you and your family.

He owes 200K (assumable) on a deteriorating farm house in a great area,

on 5 acres. House is worth 650K in its current condition?????

Can he do a reverse mortgage? That is approx. $450K equity. He should be able to get more than enough to do the roof, pay off debt, and to live on.

If you were to assume the loan you can have it written in to the contract he has life estate to live on the property. I definitely would be looking at other alternatives besides bankruptcy.

I hope if you find the answer that you will post it on here because I am also interested in the answer to that question here in Washington State. 

Thank you for bringing it up. 

Hello Peter,

I am sorry for the delay in responding to you. I would love to help you however I am not in that area so I am probably not the best one to be asking about properties there. Since you are close to the Seattle area I would suggest you call my home office and ask for an agents name that works your area. This would accomplish a few things for you. They would be familiar with the area and could possibly already know of properties to call on and they would be very familiar with the ARV in that area. Pellego has many investors so the agent could possible help to flip the property to a rehabber. Their information is:
Company Address: 675 S Lane Street Suite 305Seattle, WA 98104 Contact:(425) 441-3800 Office

Please let me know if there is anything else I can help you with and please keep me up dated on you progress.

I wish you the very best and a lot of deal to come your way.

Hello Peter,

First American Title is a very investor friendly title company.

Hope this helps you to have numerous sucessful deals.

Quote from @Sydney George:

I have a couple of properties I need to open a title with. I'm looking for one that has done double closings, wholesales, novations. Anywhere in Washington state works, but bonus points for a Spokane one. Many thanks in advance!!!

I have had good luck with First American Title being investor friendly.  I also know they are connected with CI and are very well familiar with investors needs.  They have an office in Spokane.
Good luck and congratulations on your deals.

Hello Jeff,

"HOA gated community." Be sure you check your HOA to see if they allow you to rent your home out. Many HOA's do not allow for rental property. I would deffinately check back with the party who showed up at the open house.

Good Luck.

I spent several years looking for a GOOD CPA.  Each one I found which was suppose to be trained and informed about investment properties was sadly lacking in the basic things such as "depreciation" "expenses paid out" or commonly known as "expenditures". The only thing they was aware of is the income from the properties. So things did not turn out well.
Last year I found a wonderful lady at my investment meeting which really knew her STUFF.  She did my 2020 taxes and things were totally amazing. Several of the other investors at the meeting found out their previous years of taxes was not done correctly either once it was brought to their attention. I was devistated to learn about her demise while she was on vacation.
My suggestion is to due your due dillegence and check out their credentials and ask for a list of other investor clients to talk to about their satisfaction with the work they received.  I found out the hard way that not every CPA is investor friendly and know what they are doing. Now I am just like you looking for the next totally amazing Tax Accountant/Enrolled Agent.

Hello,

Welcome to BP. Glad you are here.

Since setting up business entities can be difficult navigating all the legal structure as well as the tax structure to get the most protection out of both sides I would suggest you use a professional adviser. The gentleman that came to mind when you said Wyoming LLC was Clint Coons, JD of Anderson Business Advisors in Seattle. He sets up and loves the Wyoming LLC work.

If you cannot work with him you might try McFerrin Law in Tacoma WA. They do work with real estate and could probably help you with the series LLC also.

I wish you the best of luck.