All Forum Posts by: Rion Redinger

@Simone Nicholas

I would start by asking a few questions, if you’re comfortable answering them here - go ahead - but at least answer them for yourself.

I was asking the same question a year ago, someone asked me these same few questions and it helped me answer the question for myself.

1. What is the main goal you are trying to achieve financially in the next 90 days? 180 days? 365 days?

2. How much money are you able to apply directly to the high interest credit card debt each month?

3. Will this amount go up by more than 50% by refinancing the debt to a lower interest rate?

4. Are you done using the credit cards for everyday purchases? If not, do not refinance the debt! If so, refinancing the debt may be worthwhile.

5. How much time will you save by refinancing the debt? AKA how many months earlier will you have the debt paid off if you choose to refinance?

For me I set a goal to have the debt paid off by the end of 2019, the total amount of the original loan amount was $8,800 @ 24.99% payment of $405 per month. I refinanced to a line of credit at my credit union @ 12.49% and payment of $158 per month. I worked my tail off for two months when overtime came available and paid it off in just over 5 weeks. Now to address the next big hurdle, student loans........ $24k, think I can get it knocked out by April 15 2020?

I love hearing how folks are knocking out their debt and making themselves more financially free!

Best of luck!

@Jill F.

What do you do to prepare for a property inspection before purchase? Or do you only buy turn key properties? 

I know that some of the properties I’m interested in leave me wondering how someone else might approach the first meeting and property walk with the potential seller. Vacant properties and properties bought at auction both seem like the highest risk for an altercation with an occupant.

@Jill F. - I think you have the best approach to this matter, thoroughly screen potential tenants and the issue is negated a great deal. However - when you are going to a property to inspect before signing a contract - you don't get the same opportunity to screen them, this is when some self defense mechanism is needed. 

@Renay Reese

The mechanism you choose to use should ALWAYS be kept concealed from the potential threat. If you are a black belt in a martial art, you wouldn't show up in your training garb advertising that you have that skill...... so why would anyone choose to do the same with a sidearm, pepper spray, baton, etc....? If the neighborhood is a sketchy one - bring an assistant with you, they can help spot and avoid any danger before there is a need for self defense.

I'm in the north county area, kinda out in the sticks a bit and looking at a property even further out........ but I work for an electrical contractor (Tradesmen Electric) based out of Battle Ground and the project I am working on for the summer is in Portland so I am through Vancouver regularly. Wednesday evenings should work great for me to make a meetup, perhaps we do it over pizza at one of the local joints - Schmizza in Salmon Creek comes to mind.

I usually keep my google maps app open when I’m driving around. When I see a good prospect, I pull over in front of it, and drop a pin on the property on the maps app then add it to a list that I have titled potential sellers.

This is a low cost (free) way to build a list. 

Once I get home to my computer I pull the list up and check each one on the county property website.

Get the mailing address for each owner (hopefully it is different than the property address) and then write a short letter to them. 

I try to get ten to twenty of them together to streamline the letter writing (I made my own template to use so not much has to change from property to property).

Hand sign each letter to make it a bit more personal. And hand write the address on the envelope, this helps make sure it gets opened and better yet read! 

Hey Kent!

I’m new to BP and real estate investing but not to the Vancouver area! 

I’d love to meet up sometime with all of you that are in the Vancouver / Clark county area.

Joseph-

I’ve been driving for dollars and having a good bit of luck finding houses that look to be prime rehab houses. 

I’m new to the biz myself and have yet to land my first deal but this strategy will help you get to know your target area the best, and expose you to deals that no agent is going to see cross their desk anytime soon.

I also browse craigslist and other classified ad sites / apps for potential deals.

Wishing you the best of luck!

Voytek-

I am an Electrician for Tradesmen Electric, our office is in Battle Ground Washington but we do work all over the Portland Metro area, and the rest of Oregon and Washington.

The office number is (360)666-1199

Christian, Pat, or Rich would be the guys to talk to.

I like thought exercises like this. I hope more people will share their thoughts.

If I had 100k liquid.......... I would do one of two things ....... pay down existing properties to increase cash flow or venture into the next business model be that another form of real estate or some other business. 

I think the thing that is being overlooked by those voting to keep the house in CA is that the real estate investments will long term (or maybe short term) be able to pay for a return to the CA market at the time of your choosing. 

Maybe I'm oversimplifying matters, but that's how I see it.