All Forum Posts by: Rion Redinger

@Ankit Takallapaly

Call the WA Department of Revenue office nearest you and ask them, they will be able to point you in the right direction.

Generally speaking opinion here -

I would suggest using an LLC for holding the property in, and a separate entity (LLC or SCorp) to operate the property management and repairs from.

Getting a good estate planning / business attorney on your team is always a good idea.

@Jared McCorkle

Sounds to me like you need to find a good realtor that will show you the properties. Also, you need to find a way to work with someone that finds off market deals and can bring them to you.

Best of luck!

@Michelle Mullins

One way to find out for sure is to get the new insurance in place and send it over to the lender. I’m sure if they do call it due you will have some time to figure out how to get past it. Whether you refi or talk them out of it you will find a way.

Check out Pace Morby on YouTube for a video where he explains how to deal with that.

I’m looking for a deal for a LTR in the Palmer / Wasilla area, ideally it would be a 5 bed 3 bath house on acreage but can make a 3 bed 2 bath work. I’ve already got tenants lined up I just need to find the deal and get creative, I prefer a sub-to or seller finance deal.

Let’s connect!

@Norm DePloom -

Hey, is this meetup still a thing? Or did Covid kill it? Either way I’m looking to connect with investors in the area.

@Jessica Parker

Is this meetup still happening or is it time to give it a good reboot? I’m willing to help organize it if need be.

@Ian Humphrey and all others in SW Washington -

I work in the construction trades and would love to connect and see if I can be of service to you, maybe we can even JV on a few deals.

If anyone would like to formalize a regular meet up I’m open to helping organize it.

Drop me a line and let’s connect and make some money together!

Newbie here trying to find out if this deal structure seems legit, and if the deal is good enough to be able to pitch to potential buyers or JV partners.

Thanks for any and all input- it’s like drinking from a fire hose for me.

Deal breakdown

Asking price: $700k

Current Market Value: $675k

Repairs estimate: $25 -$35k

ARV: $710 - 725k

Seller Mortgage: $430k @ 2.75% 30yr with 27 years remaining USDA loan

HELOC: $70k - seller requires this paid off

Total debts against property : $500k

Seller is asking for:

HELOC paid off

Enough cash to pay off their other debts estimated at $110k give or take.

Rent back agreement at $3200 / month until they secure their new home

Seller will carry back the remaining approximately $100k for 10 years at 0% and a lump sum payment of $10k each year on November 1st beginning next year.

Seller agreed to a sub-to as long as payments are made through a licensed loan servicing company.

So final numbers look like this:

Mortgage : $2480/ month PITI

Rent Income: $3200/ month

Cash down : $170k

Positive cash flow of $720 / month

Property is a 3 bed 1.5 bath 1915 square foot two story on 4 acres, large shop 2400 square feet, barn 1800 square feet, house was built in 1995, some updating has been done with all new stainless appliances, new LVP flooring on main floor, new sinks, faucets, toilets, light fixtures, door hardware, electrical outlets and switches, wall heaters and thermostats are new.

Location is rural Clark County Washington approximately 1 hr northeast of Portland International Airport.

Hopefully that’s enough information to get some good feedback.

Todd - Thanks for asking this question, it is very similar to our situation.

We are looking to purchase a property with a second placement manufactured house on it, we would also use it as our primary residence and have been looking at options for financing, (we do not qualify for VA), we would rent the RV pad and possibly the pasture for part of the year so it does have some potential rental income.

I'm thinking about making an offer with seller financing. Depending on what our current primary residence sells for, we may be able to offer $50k - $70k down.

That chain doesn't seem too secure the way it is. 

There are several options with powered gate openers, none of them are cheap, all of them should allow for the option of remote access for contractors as well as keyed access for first responders. 

Here is a link to the type I am referring to.

Eagle 100 Gate Opener | Eagle-100 Residential/Light Commercial Automatic Swing Gate Operator | Gate Operators Direct USA

I would suggest contacting an overhead door contractor to see what options they have or can direct you to the right contractor.

Another option to increase security is to maintain a brightly lit road frontage to deter crime. Motion sensing lights are a great option as they only come on when they sense motion and the surprise of them coming on can scare burglers off.