All Forum Posts by: Rudy Manna

There is so much excitement around investing  in Seattle south side in Tacoma- Lakewood etc. looks like the ST3 project will be voted in November which I am eagerly looking forward to.

In the meantime is the specific route finalized? What I mean is that if there is way know the location of stations and I can target acquisitions around those. I looked up the project plan but there isn't any specific information on location.

Thanks in advance.

Have any of you tried hiring people for drive for you, and build your database? Wondering if thats feasible. 

Have any of you hired people to do the drive for dollars? Any success or learning?

I am planning to test this strategy in Seattle are.

Thanks @Joe Barletta

Do you get better deals compared to MLS through direct mailing?

The problem is that market is super hot in the Seattle side, which makes me skeptical about the effectiveness of wholesaling. On the same side there are large investors/builders/ rehabbers who have their wholesale network which they keep under the guards. After trying to get into it for 6 months, I feel like the best bet is to run your own campaign. Its the hard way but looks like the only way :)

Over the last 6 months I became an somewhat active investor in Seattle South-side area and closed three deals in Tacoma. Going forward I am thinking of ways I can bring more efficiency to my acquisition process and thinking of experimenting with direct mailing in scale. My target area is Tacoma-Puyallup-Lakewood- Lacey- Olympia etc. Primary objective is to become my own wholesaler. I will try to wholesale the deals that doesn't work for me, but that kind of secondary.

I am trying to figure if anybody tried this strategy and had success in those areas?

Expert opinions are appreciated. Thanks in advance.

On another note I also keep an eye on the deals from other wholesalers, but they are not simply that good. Maybe the best deals go to the big guys only.

 My Primary choice is downtown Seattle, highly trafficked area (maybe near a bus stop or near Amazon), targeting the Tech Audience. ~2k  sqft in store space.

I am looking into a project outside of RE ( ethnic retail store in Seattle). As all of you know Seattle is a hot place for business and finding space for rent in a good location isn't easy. I also heard from my friend who opened a store that commercial rental agents charge 10k+ and the owners pass that cost to the tenants in one way or other.

Is there a systematic way to find retail rental space? I can drive around and call wherever I see "For Rent" sign, but wondering if there is a better way?

Thanks, alternatively If I wait for the seasoning period for cash out refi, how long do I have to wait? Is it 6 month or 12 month?

I got a very basic question. I just got a property all cash. Plan is to rehab the property, put on rent, and refinance. Some representative numbers for the property are like,

200k purchase, 50k rehab, 300k ARV.

I should be done with the rehab in 60 days.

My preferred option to go for 80% LTV loan, so the bank will loan me 240k, so my cash investment will be 10k.

Look forward to hear the options I have.

 Thanks!!!

Will any regular bank do the rate-term refi as soon I am done with the rahab? Secondly , will the rate-term refi can cover the original HML including purchase cost plus rehab costs.

Thanks in advance.