All Forum Posts by: Ran Iarovich

Find cleaners and handlers and sink them with your schedule. Do not use a bs property management company. 

Due diligence and speculation. There are always a lot of temptations to rush into a deal. Being able to push past the bogus and looking through a holistic view will make you stand out as one of the greats. 

Partnership can lead to a lot of headaches in the future especially if you don't have a prolonged history of trust with the individual. Since you served in the Marine Corp aren't you eligible for a VA loan?

If you can find a lender that can qualify you why not buy a multi-family investment (duplex, triplex, quadruplex) and house-hack it to renters while you live in one unit? 

Also, you should be very careful before going into real estate with no money. Even with a partner, how are you going to save yourself from repair costs that may come up or disputes between you, your renters, or your partner?

Real estate is a long-term play and the worst thing you can do is to set yourself up for disaster in the beginning. If you are really knowledgeable in investments, I would take a year or 2 or however long it takes you to comfortably afford a home and not have an anxious conscious about constantly trying to keep your head above water. 

Stay ambitious but patient,

Best of luck,
Ran

I think they are a good investment if proper due diligence occurs. Not only are they highly sought after at this point in time (new construction levels at all-time lows) they can also potentially save you the headache of random repairs and unsustainable rent variations. Make sure that you get an inspection and observe the reputation of the builder, 

You should never be restricted by your real estate brokerage to the investments that you want to make.  

Of course, make sure to read their policy before signing anything. 

I will use an LLC if you are hoping to scale your cash flow in the future. I also agree with most hear that a DSCR loan will be your best bet if they can underwrite specifically for STRs.

I would use the internet and a local realtor to determine if both descriptions of the area match.

This will allow you to keep a lot of different perspectives both up to date and in the past. 

 Once you understand the neighborhood you will start comparing them to other neighborhoods using the same strategy to determine which properties fit your investment needs on appreciation and cash flow

Best,

Ran

Let's look at it from a bird's eye view. 

Life is a function of time and energy

You only have a specific amount of time 

But you can control what you put your energy into. 

How do you want to spend your energy within the 86,400 seconds in a day?

 P.S. 

If you'd like my list of contractors developed over 7 years in the Seattle area, please reach out! 

Hey Eric,

Thumbstack is a great place to start but there is often the issue of them upcharging you, especially with the rebate fees added on by the Thumbstack company. The best strategy that I've used to find contractors is to ask investors in the area. Usually, anyone who has been investing in the area for more than 2 - 3 years within a specific neighborhood has had something break or in need of upgrading. I assure you that most of these guys have not fallen victim to the commercial rates offered to them by people found on Yelp, Angieslist, or Thumbstack. 

Now, how do you approach these investors? 

Any event in the area, per se a coffee meetup, workshop, seminar, etc. can be utilized to allow you to not only expand your network but fill in your bucket of opportunities for what is possible.

Go out there and don't be shy to say hi, 

Wishing you the best of luck,

Ran