All Forum Posts by: Ran Iarovich

I would say that it also depends on how much capital and down payment each one is putting in. I would compare the average % of each brothers portion as well as the portion of the average % of each brothers interest payment portions. If I were in your shoes I would go the direct route and just portion it off in the percentage of how much each person owns towards the property. 

If I were you I would put on the BiggerPockets podcast when you are driving to educate you on flipping and save you time while you are driving. Try to get exposure to as many case studies from others experiences as well as develop the basic principles that you will use to underwrite properties. Since you are in Washington - there is much higher risk related to the average price per home and average inventory levels (which also means there may be a higher reward if you are diligent enough). If you are ever in the Eastside area, shoot me a call and I can show you similar criteria that my investors use to underwrite properties. 

If I were you and worried about paying too much try creating a Craigslist ad listing what you need to get done. You will be very surprised at the range of different quotes you will get. Obviously, screen them before based on their record but if it is just painting it shouldn't require some crazy amount of skill.

Hi Nick,

Investing in this market, especially in more expensive markets such as Washington state, can be tricky. You have to ask yourself whether you are looking to save money (house-hacking)? Are you looking to cash flow (more doors but more investment needed; syndication)? What sort of appreciation are you looking for (ranges from 4%-6% around King County)? etc. Also as a tip of advice, I would also look at Facebook investor groups within your preferred community or neighborhood. That way you will get more info about the specifics of what to look for in the area. As someone who is trying to tap into the investment field myself I know how crucial it is to find both a mentor and day-to-day advisor who can guide you in the right direction. Real estate is a big investment so you can't afford to make too many mistakes. I also live around the Seattle area. I work for a team of 20 real estate agents and would love to introduce you to some of our options to enhance your search and outlook. Message me if you're interested. 

It's great to hear that you have a passion for real estate and have been able to build a successful investment portfolio while managing your other responsibilities. Taking control of your time and energy is crucial when pursuing your goals, and it sounds like you have been doing just that.

As you consider your next steps, it's important to weigh the potential upsides and risks of different options. Being a real estate agent can offer more stability and less deal-by-deal risk compared to being a general contractor (GC). Real estate agents have the potential for a steady income stream from commissions, while GCs may face more uncertainty with project timelines and budgets. However, being a GC could also offer more control over your time and income potential if you're able to build a successful business.

While it's important to follow your passion, it's also important to acknowledge that it may not always lead to immediate financial success. It's great that you've been able to build a successful investment portfolio, but it may take some time to see the same level of success in a real estate career. It's important to have a realistic plan in place to support yourself financially while pursuing your goals.

Partnering with someone could be a good option if you're looking to complement your skills and resources, but it's important to carefully consider the partnership agreement and ensure that your goals align. Ultimately, your goal of buying more rentals is a great one, and it's important to choose a career path that supports that goal in the long term. Good luck with your decision-making process!

Thank you, I really appreciate this! 

Hi everyone,

I stumbled upon a dilemma about what I should do with my current property and need some thoughts as to what I should do. I currently own a property that is valued at around $1.2 mil. Since I bought it in 2010, I have made sizeable profit on the property. The $1.2 mil price point comes after heavy remodeling for the kitchen, fixtures, heating, and more. I have probably spent anywhere from $150k - $200k in total repairs. I'm also a frequent short-term stock trader but want to diversify to real estate. My reasoning is that I want to pay less taxes because I'm in a very high-income group and also to get more expected returns. 

Now here is my question. Considering the time needed to manage a property, the tax benefits, and the overall returns, should I buy a property that would cash flow as a rental and continue to live in my residence or upsize into a new property and turn my current residence into a rental? Another option would be to sell my primary residence and be able to afford something much bigger. I'm very worried about my tax payments and want to make sure that I can write off as much as I can depending on what I do. 

Sorry if my post seems a little obscure and lacks information. I'm very new to investing in real estate and still educating myself on the proper vocab. 

Just starting out to wholesale properties in King County - Washington. Does anyone in that area recommend a real estate attorney who has experience in wholesaling?

I want to use a company to hold my assets in real estate under an entity. One question that I have is if I need to create a real estate LLC entity if I already have a LLC that was not created for initially for real estate? If I do, can I change the structure of the existing LLC to be able to work with real estate?

I appreciate any reply :)

Best Regards,

Ran

I have a contract for a fix and flip house but I figured out the arv is much lower than I thought. Can I back out of my contract with the seller with no repercussions? If not what are the common contingencies?