All Forum Posts by: Ryan B.

I meant that there may be some off market deals in Kalispell that could be found via direct mail.

Welcome! So you already own a duplex that cash flows and live in WF? I’d prob just slap a lunch together, pat yourself on the back, and go skiing if I were you. I have a rental in WF that just beats break-even. It’s impossible to get anywhere near the 1% rule buying off the MLS. Strong sellers market. I would probably concentrate on finding places that need work in Kalispell and WF. Value-add rehabs in Kalispell for long term rentals. Rehabs in WF for monthly furnished rentals. West Kalispell has deals and I bet some unlisted gems too. I’d probably focus there. Mailers, doing agent referrals for the ones that don’t work and hoping for a pocket listing in the future. Maybe double down efforts in the down seasons so you can enjoy the single best place for summer worry free.

I'm thinking about moving funds from a traditional IRA to a self directed IRA to be used for real estate. It seems to me that the returns in the stock market for the next few years could underperform, as is historically true at the current P/E.

Can anyone recommend a trustworthy SDIRA provider? I think back to the Ponzi Schemes we have seen from 1031 Exchange companies over the years and I just think to myself: man it would be EVEN EASIER to run a Ponzi with a SDIRA company. SDIRA funds are not as ephemeral as a 1031 exchange company which only holds them for a short period. 

Which leads me to the question of trust. Who is auditing these SDIRA companies to make sure they aren't dipping into client funds illegally? Which company could be trusted.

Further, with an SDIRA there's significant specialized knowledge necessary to remain on the right side of the tax law: self-dealings, taxes on leveraged investments in SD ROTH, etc. Which providers can act as partners and help clients clear these hurdles.

Lastly, and this should probably be a different post, but anyone doing a 72T on an SDIRA to pull out REI cash flow penalty free before retirement age?

@Nghi Le thank you, that thread was on point.

Another option I was exploring was purchasing through a wholesaler. I'm assuming that, like an auction, these deals would also need a quick cash close. So I'm interested in getting acquainted with local HMLs for that avenue as well.

@Charles White hope you came out of this alright. Any update you can share?

Thank you @Eddy T. I had no idea that there were investor centric middle-services. How does Vestus profit? Is it a HML brokerage fee structure or something?

I've been looking in Snohomish County, WA and see what could end up being good deals going to auction in the coming months. Anyone have experience with seeking private lending or hard money loans for auctions?

Goal would be to find one requiring light rehab, rent it out, season, then refi into a traditional product. What type of loan would allow this, anyone have experience with doing this? 

What areas would be considered more likely to be or remain in the "path of progress"? Vacancy rates in these c+ areas of Bremerton? A good property management referral. Thanks Joseph!

I would enjoy getting coffee with any of you locals! I moved here from Seattle after a stint in MT. Saving for rental number two while I familiarize myself with the area. Bremerton neighborhoods definitely appear to run the gamut. 

@Olivia Hansen,

I only have one property so far and it is in Whitefish. It is a short to longterm furnished rental. It's managed and after the management fee of 15% (vacation rental) it does still cash flow (barely).

I would stick to Kalispell for better cash flow. There is a shortage of homes on the market and in WF you'll be paying market rates for just about any home. In Kalispell there are plenty of older homes where the BRRR would work really well.

One macro word of caution for the Flathead. Land is plentiful and new construction costs are often lower than existing home prices (right now). I would make it a point to use both the normal sales comparison approach as well as always doing a cost valuation approach. Right now you'll probably end up with a lower value for the cost approach and I would work your numbers from that starting point.

Market cycle home prices in the flathead are a bit amplified at both ends. The second homes end up being the first to foreclose or be sold in down cycles and the resulting deluge of inventory tanks prices. The same well-to-doers bring prices up in good times like we have now.

I wouldn't count on strong appreciation over the next 5 years. Home building in the area is ramping up, close to matching demand and that's going to slow further run up.

There's deals in Kalispell, east and west, but I bet better Caps in West. I wouldn't do multifamily over a quad here either.

Best of luck and check out Desoto Grill in Kalispell. One of my favorite eats in that area.