All Forum Posts by: Nghi Le

@Samantha Lotti 

I've actually changed my strategy away from Pre-Foreclosures (especially after learning about the Distressed Homeowner Act in Washington state), so I didn't get a chance to use propertyradar.  I'm also a little wary of any automated comping engine and just use Redfin and my realtor now for comps.

Sorry to post on an old thread, but I recently had an idea regarding the GNND program.  I am definitely in this business to help others, and I have a few teacher/firefighter friends that will be graduating soon (or have recently graduated).

I was trying to search for GNND homes in Washington state, but when I change the Buyer Type to GNND, nothing comes up.  However, I read in the addendums, and in #8 of the "WA_MostCommonSellingAgentQuestions", it says that during the lottery period, properties are available for purchase by Good Neighbor Next Door, non-profits, and government entities.  However, when I click on a Lottery property, it just says nonprofits and government (for example, Case # 561-917357).

So I'm totally confused.  Are there GNND properties in Washington state, specifically King county?

Welcome @Georgia L. !

If you want to meet some local investors face-to-face, there's a meetup today in Mountlake Terrace:
http://www.meetup.com/SnoCo-Connected-Real-Estate-Investors/events/208661242/

I know a few BP members will be there as well.

@Zach Schwarzmiller 

I am a first-time landlord and am in the same situation as you are now.  The tenant I evicted actually owes me several thousand dollars due to unpaid rent and the rehab work needed to make the property rentable again.

How did you decide on going the small claims route (vs other methods) for getting your money back?  I thought about collections too, but I heard they take 40% of the cut?

I had the same thought as well.  She posted it in both REAPS and REIAWA.

Never heard of a double wholesale before.  I suppose a deal is a deal.

Props to you for getting to it so quickly.  Does the original wholesaler know that you're re-wholesaling and is she okay with it?

@Christopher Gilbert @Bryan R. 

Thanks for the response, guys!

I definitely plan on doing my due diligence, but I was afraid that most of the properties that are listed wouldn't make it to the auction, and the ones that do are bad deals.  It sounds like the auction might not even be worth it?

Bryan, what do you mean by "getting in trouble"?  Are you referring to the Distressed Homeowner Act?  Would I be safe if I only plan on going after the properties that are non-owner occupied, or is there some other law out there that I should be wary of?

Welcome to BiggerPockets, @James A. !

Glad to see another IT Investor ;-)

If you'd like to dive into investing some more with local folks, you should attend the local Real Estate Investing Associations (REIAs), as well as look for other meetups in the area.  If you'd like to attend one this week, there's a meeting this Thursday in Bellevue for the Real Estate Association of Puget Sounds (REAPS).  You can find more details here:  http://reapsweb.com/

I'm planning on attending my first tax deed foreclosure sale/auction in a couple of months in Seattle, WA (King County).  Just wanted to see if anyone has been to this specific auction before, and what was your experience like?

Some general questions about tax sales:
I'm considering driving by all of the properties to check them out (after I narrow down the list online).  Would you guys recommend that, or is that a waste of time?  Do the majority of them not make it to the auction?  If so, is it because investors are reaching out to them before the auction (and is that legal)?

I love BECU, but they're still pretty strict about their loan requirements. However, they're the only ones I know who will lend up 100% LTV on a HELOC, and gives me 6.90% interest on cash advances up to $15,000.

Guild and Cobalt are pretty popular with investors in the Seattle area, but I don't think they necessarily have the best rates.  I get weekly updates from Cobalt, and last week I heard the rate on investment properties was around 4.75% and seems to be trending upwards in the past month.

I have a smart and creative mortgage broker that I've been working with for the past couple of years.  Send me a private message if you're interested.

See you there!