All Forum Posts by: Andrew Kniffin

Hi all-

December 1 is supposed to be the date by which my Buy-Rehab-Rent-Refinance strategy of a Bremerton property is supposed to be finished (rehab portion) and available for walkthroughs by potential tenants.  The property is less than 2 miles from dowtown Bremerton.  

If anyone's interested, we could do a walkthrough together.  I'd be happy to share the numbers.  This would allow us to actually look at R.E. and combine that with our happy hour merriment!  :)  

I have it pencilled it for 12/1.  There are some other obligations competing with my time, but I will try to be there!  Thanks.  

Drew (cell: 206-465-5771)

I will join a Kitsap meetup!  

Hi Mike-  I own 1 sfr in Bremerton and am pursuing more small MF there.  I like the market for cash flow and the idea of building a "platform" of properties.  It's unlikely to have equity gains but should be steady on cash. So it's like hitting doubles, but not swinging for home runs.

How many properties in Bremerton do you own?  Why did you first pursue it as a strategy?

Hi BP nation! Does anyone know whether the law in Minnesota requires that all Property Managers need to have their Real Estate Agent's license in order to be a PM? I heard this today, but have never heard it before. It surprised me since I've been in real estate in Minnesota for many years. Thanks, Drew Keywords: Minnesota, Saint Paul, PM, Washington County

@Zach Schwarzmiller I'm thinking of the area immediately surrounding Snoqualmie Pass ski area, or Alpentaal.  @Troy Fisher was very helpful with providing a good contact and I had a 30-minute conversation with the person.  

Zach, how have the Snohomish, Index, and Edmonds STRs worked for you?  Are you pursuing additional ones?  

Hi All-

I want to research short-term rental (STR) opportunities in Snoqualmie Pass here just outside of Seattle. Does anyone have experience with this method, within this region?

Specifically, I'm looking to see whether anyone has an agent that is specialized in these two areas.  

Much appreciated.  @DaveBebb.  

Regards,

Drew

Hello all-

I recently bought a SFR here in Bremerton, Washington state. It was purchased all-cash from FannieMae (Homepath). It is currently being rehabbed.

Purchase price was $105K.  I'll put in ~$15K additional in rehab.  Post-rehab, I think it's value will be ~$175K.  

I'm looking for the highest LTV I can extract from this property after completing the rehab. Does anyone know of >80% LTVs being offered on investment properties? If so, what financial instutions are providing these loans?

Thanks in advance for any input!

-Drew Kniffin

Keywords: Kitsap County, Washington, BRRRR, Tacoma, Pierce County, Snohomish County

I'm finding SFRs in Bremerton now.  But it takes awhile to build your team of qualified repairmen, and the smaller the economic region the fewer your opportunities are to find reliable "team".  Caveat emptor.  

I suggest finding one area and focusing on it, so that you can get leverage out of your knowledge and network.  

Hello BP family:

I have a few projects around my house, and am looking for a Contractor who is trustworthy for these tasks.  Can you suggest anyone?  I live in the Columbia City region of Seattle, Washington.  

Here are the jobs:

• Install kitchen (approximately 35 square feet total) and bathroom (approximately 4 square feet total) backsplash. Will require some minor adjusting of electrical outlets (pulling them out a bit) to accommodate backsplash tile.
• Install a small (approximately 1x4ft long) piece of laminate countertop plus wood trim for edge in the bathroom.
• Install trim for four windows. Two of them will require removing old trim first. Trim packages are already cut but will need to be measured and cut precisely for each window.

Any input you can provide would be greatly appreciated!  

Thanks