All Forum Posts by: Bruce Mar

@Nathan Patterson , we followed Gary Keller's advice in his book, "Millionaire Real Estate Investor": lock in your profits when you buy the house. With the price that we bought it for, we understood the 2 options we had in play, a) rent, which is our preferred option, or b) sell, if we were unable to rent it for whatever reason. Unfortunately, we had to choose option 'b', though we still came out ahead. Now, the hunt is on to find some option 'a' properties!

So, if there is anyone in Seattle or Bellevue areas with leads on good single family or small multi-families, we're looking.

Thanks!

@Gerald K.

We found it on Homesearch.com, an online auction site.  It was listed as 'Occupied', but when we did our drive-by, it was vacant, so we did snoop around.  We found we really enjoyed the neighborhood.  We weren't able to view the property prior to buying because of the occupied status, so we saw it for the first time last night.  Very pleasantly surprised how well kept it is.  Coat of paint, some minor kitchen work and drywall patching (for cables that they ran through the house), and a good clean, it should be in the rental pool by Dec 1, fingers crossed. 

Long-time listener, first time poster.  

No questions, just an introduction.  I'm Bruce from the Seattle area, and my wife, Tamar, and I have been fans of the podcasts since we started listening to them in July. That was about the time when we had the 'aha' moment that real estate is where we wanted to focus our future investments.

We're relative newbies in investment real estate, though we had been a landlord many years ago. Shortly after we were married, my wife was transferred to Minnesota for work, where we settled in lovely Woodbury, MN.  Since we had just closed on a house in Seattle, we decided to rent it out, and because of the cost-of-living difference between the two cities, we were able to use the net cashflow and essentially pay for our housing in MN (note: we did get a great deal on both homes).

Long story short, we moved back to Seattle, sold the MN house, and had kids. That brings us to today, where we just closed on our first rental property. We found a great foreclosure deal close to downtown Seattle in, what we feel, is an up and coming neighborhood, with restaurants, services, and transportation close by.

Now that we've jumped in, we hope to be more active in the forums and meet some of our fellow Seattle BP'ers.

Cheers,

Bruce Mar

Long-time listener, first time poster.  

No questions, just an introduction.  I'm Bruce from the Seattle area, and my wife, Tamar, and I have been fans of the podcasts since we started listening to them in July. That was about the time when we had the 'aha' moment that real estate is where we wanted to focus our future investments.

We're relative newbies in investment real estate, though we had been a landlord many years ago. Shortly after we were married, my wife was transferred to Minnesota for work, where we settled in lovely Woodbury, MN.  Since we had just closed on a house in Seattle, we decided to rent it out, and because of the cost-of-living difference between the two cities, we were able to use the net cashflow and essentially pay for our housing in MN (note: we did get a great deal on both homes).

Long story short, we moved back to Seattle, sold the MN house, and had kids. That brings us to today, where we just closed on our first rental property. We found a great foreclosure deal close to downtown Seattle in, what we feel, is an up and coming neighborhood, with restaurants, services, and transportation close by.

Now that we've jumped in, we hope to be more active in the forums and meet some of our fellow Seattle BP'ers.

Cheers,

Bruce Mar