All Forum Posts by: Steven Kennerley

Hi All

I just moved to the USA last year and it took me this long to get my credit score up to a good level Even though we had no debt and a reasonable amount of cash we brought with us from the sale of our home in New Zealand. We we have a mortagage free home and I just went to the bank to get a line of credit on to use for REI.

Im interested in buying multifamily out of state. Im currently in Northern Washington State. Im taking as much info in as i can with books podcasts etc and some of the concerns I have I thought Id share.

I listened to the podcast yesterday about investing in multifamily which is the area that interests me the analysis part was really helpful. The problem I have is that I think I can analyze properties but I dont know the areas. Brandon said bad areas attract bad people which I completely agree with but I dont know which areas are bad. Another issue I struggle with is many of the properties dont show many pictures at least of the inside of these multi families. So to do the initial analysis is difficult because I dont know the initial condition and its hard to put information into the analysis that would give me accurate feedback. If anyone can point me in the right direction I would really appreciate it.

Steve.

Hi All

I just moved to the USA last year and it took me this long to get my credit score up to a good level Even though we had no debt and a reasonable amount of cash we brought with us from the sale of our home in New Zealand. We we have a mortagage free home and I just went to the bank to get a line of credit on to use for REI.

 Im interested in buying  multifamily out of state. Im currently in Northern Washington State. Im taking as much info in as i can with books podcasts etc and some of the concerns I have I thought Id share.

I listened to the podcast yesterday about investing in multifamily which is the area that interests me the analysis part was really helpful. The problem I have is that I think I can analyze properties but I dont know the areas.  Brandon said bad areas attract bad people which I completely agree with but I dont know which areas are bad. Another issue I struggle with is many of the properties dont show many pictures at least of the inside of these multi families. So to do the initial analysis is difficult because I dont know the initial condition and its hard to put information into the analysis that would give me  accurate feedback.  If anyone can point me in the right direction I would really appreciate it.

Steve.

Thank you @Mary Kay Robinson that's very kind of you and I will make contact when we arrive. thats good to know the vacancy rates are so low, I'll keep looking.

Hi I'm Steven 

Im currently writing this from New Zealand but will be moving with my family to Washingtion State this month. Im fortunate to have sold our family home in a very good market and this has helped us have some capital to look at investing in RE. I am interested in buy and hold probably SFR's possibly small multi families.

I have been doing as much homework as I can over the last few months and this site has been amazing for that. There is still so much I dont know and some guidance would be awesome.

A couple questions I have are when putting together a group of professionals to help set up an LLC and assist with insurance, taxes, accounting etc. do I look locally and try find people myself or do I just look for referrals from sources like BP? Is it better to have them local to contact?

Another question I had is the area Im moving to seems to be a bit expensive and from what I have learnt so far probably not the best for cash flow, which is what we are looking for initially. I have heard a lot of talk about RE in the mid west and looked at some properties on this site. So the question I have is how do I make that decision. I have a basic understanding of how to analyze a property but I guess my concern is I dont know the area myself and I dont want to be stuck with a property in a D area with high vacancy rates and not ideal tennants.

Im moving to a small town north of Bellingham WA.

Any advice would be much appreciated.