All Forum Posts by: Paul Doty

There will certainly be more. There are usually two a month. I'll miss the next one while I'm on vacation. I should be around for the January meetups though. Maybe keep an eye on this thread and I'll post an update. 

 The group events are usually posted here:
https://www.meetup.com/Bellingham-Real-Estate-Investors-Meetup/events/266991007/

Hey, that's a good point. No reason you can't do the whole project, just broken into phases.

Square footage and features (number of beds/baths, finishes, heating style, etc.) definitely play into the home's value. Whether or not it's ugly/cute factor weighs into the appraisal likely depends on the mental game of whoever is doing the appraising. In my area, garages aren't worth much unless they have a permitted ADU. This is where an experienced realtor is an excellent counsel.

As far as how long until you refi, I believe it's usually 12 months, but have been hearing more cases lately of only 6 months. A good MLO can give you guidance here. 12 months isn't bad, but six is much better. Rinse and repeat. Even if you can't get 100% of your cash back out, it could still be a viable option.

Yes, my thoughts exactly!

There are some meetings in the area. One is with REAPS, typically charges admission and you need to rsvp in advance:  https://www.reapsweb.com/meeting-schedule

...and another that's been managed via meetup.com and facebook. This group is my preferred gathering. Rather informal but lots of great discussions. The next meeting is on December 12th. I can forward you the details if you're interested.

I have several questions, but I'll keep it simple to start. Are you paying for this out of pocket? and how reliable is the $225K ARV with all the bells and whistles?

The "make it livable" option seems pretty nice. All in for $95K, with an ARV of $150-170K. Refinancing it in a little while will likely return most or all of your cash if those estimates hold up. You could move on quickly and have a cash-flowing asset in your pocket.

@Anthoney Hanks, that's exciting news. I'd be interested to hear some more about it. Are you planning to manage it yourself?
Have you found any potential 'next' deals yet? Is there anything, in particular, you're looking for?

Hi @Emmett Bond,
I'm looking at SFR and small multi-family residential. Are you looking at large or small multi-family? The larger stuff intrigues me as much as the price of entry deters me. I'd like to get there someday. I'll start with SFR and learn to walk before I start running, haha.

It's nice to "meet" you. Do you attend any of the local meetups?

Thanks @Anthoney Hanks!
I see you're working on a fix and flip. Are you still planning to sell it when it's complete, or is renting and holding a viable option for you (and your market?)

Hello good people of Bigger Pockets!

My name is Paul. I've been interested in real estate investing for while now. I've been learning as much as possible in the last year while I work on a first deal.

I have a general investing style and strategy chosen, now it's time to execute. I'm interested in investments which provide reasonably high cashflow and have an ability to scale. BRRRR(R?) investing in single-family and small multifamily to start, with an open mind for whatever else may come along. Most markets I watch are long-distance from where I live. Housing pricing to rent ratios aren't so favorable where I live for this kind of investing.

A little about me aside from investing; I'm an analyst for a consumer packaged goods company (spreadsheets, statistical analysis, market studies and economic trends are my daily routine.) I enjoy motorcycles, mountain bikes, camping, fishing, good food and travel. I live in the PNW with my wonderful girlfriend and our two pet rabbits: Miss Rabby and Bear.

It's good to be here (and finally posting). I look forward to meeting and discussing real estate!