All Forum Posts by: Tarl Yarber

It sounds like you did the right things, the question is, did you do it enough...BUT, doesnt matter now.  If I were in your current shoes, I would attempt the ozone machine again, before doing any drastic solutions.  This time though, be sure its a commercial grade ozone machine.  There are different types out there, get the expensive good kind and rent it.  Then shut every window, seal the house up, and crank that sucker (or two suckers) on for a few days straight, 2-3 days.  

If that doesnt work, then you should look more into what JD Martin said in his reply

Managing subs can sometimes be like dealing with toddlers, and toddlers play best when they are alone.  Its not uncommon for a trade to want the project to themselves for a few days so they can get in, get their work done, and get out without having to deal with a bunch of other people getting in their way.  

Something we did years ago was start making sure our trades became associated with our GC's so that they can talk and work things out together without us in the middle.  Too late for you on this one, but its worth making an intro at somepoint.

For the $750, it depends on many factors.  It sounds like based on your writing, that you are sort of stuck with this now and just need to deal with what is and move on.  These experiences are what make us better for the next deal.

I focus on cash on cash return based on the project ROI.

You can reach out to your current lender that is providing you the funds, and ask for additional funding.  They may say no, and they may also say yes and charge you a bunch more for it.

Additionally, depends on your access to other capital.  Do you have other assets you can leverage?  Do you have other investors you can borrow from?  Can you give equity away to someone in return for the remaining funds needed to finish the project up?

Bottom line, if you already own the project and it cant be sold (or rented) until the project is completed, you go to do whatever it takes to finish the project up and move on.  If you are in this business for the long run, then one deal is nothing compared to the bigger picture.

Fixated On Real Estate

The Ultimate 60 Day Challenge  -  FREE Info Session

March 3, 2020 | 6:30 PM
Location: Renton Technical College - Building H - Room H102/103

Have you wanted to take your business to the next level? Have you wanted to be with like minded go getters in real estate, who push you, who push each other, who hold you accountable and work along side you to help you grow your real estate investment business?

This is the LONG AWAITED, 60 DAY CHALLENGE!

This is the THIRD challenge our group has ran. During the previous challenges, 110 up and coming investors generated over $400k in assignment fees, many acquired their first property, and many more kick started their businesses.

This 60 Day Challenge will be a continuous work shop for a special group of those who want to get after it. Focusing on Acquisitions, Wholesaling, Marketing, and Investing. If you are already running a business and want to scale and increase, this is for you. If you are just starting out and want to take a giant leap forward in this business, this is for you.

You will be introduced to the tools of success that have helped myself, and my fellow investors kill it at wholesaling, flipping, BRRRR, and acquisitions.

This is a PERSONAL Challenge. A commitment to yourself that is backed by accountability to the group and to us. This will not be easy but it will be worth it.

On March 3rd, we will hold a FREE INFORMATION meeting to the challenge. All details, rules, and obligations will be reviewed. One week after that intro meeting, we will hold a commitment meeting. It is there that you will come, sign your commitment to your self, and the challenge begins.

Keep in mind, first come first serve. If you are committed to getting out of your comfort zone and doing what you know it takes to win at this game, then I will see you on March 3rd.

Location: Renton Technical College - Building H - Room H102/H103

RSVP HERE!

Fixated On Real Estate 

Rehab Budgets, Schedules, Negotiations, Project Management and More!!

February 19th, 2020 | 6:30 PM

3000 Landerholm Cir SE, Bellevue, WA 98007 | Building C - Cafeteria

RSVP HERE!

Do you invest in Single or Multi Family properties? Are you looking for the best contractor to work with? How do you handle budgets and schedules in today's high priced market?

Negotiations, contracts, budgets, schedules, you name it, we will be dealing with it in this meetup!
Here at Fixated On Real Estate we will be bringing a panel of some of the best in our local market and industry when it comes to dealing with contractors in the real estate investment world.
If you are like us, you have experienced first hand the rising prices of construction, the limited pool of qualified and reliable contractors, and the frustrations of going over your budget. Come to FORE this month and learn how others are handling it!
If you are brand new and just starting out, or have been getting after it for years, this meetup is going to be one of the best and most practical for all of us!
Finding investor friendly GC's and subs are a challenge for us all, how do you build and navigate a successful investment business when you can't get the project done on time and on budget? Lets dive DEEP with this panel of experts!

*Always No BS Investment experience
*Incredible Networking
*Best community in the PNW for investors

RSVP HERE!

See you there!

Tarl Yarber

Fixated On Real Estate - Tacoma: FORE TACOMA: How Tarl Yarber Plans For The Future PNW Market

Location: 5417 S Tacoma Way, Tacoma, WA, 98490

Date/Time: Wednesday, Jan 29th, 6:30pm

RSVP on Meetup.com

Do you have a plan of attack for investing in the new year?
Are you worried about the Seattle/PNW Market? How are other investors adjusting their investment strategies, if at all, in this changing market?

FIND OUT HERE and don't let poor planning get in the way of this amazing real estate market we are in!

Would you hire a builder who had a "goal" to build a house for you? NO! You would run! You want a builder who has a PLAN to build a house for you.

In this month's meetup, we have the one and only Tarl Yarber discussing the current market leading into 2020 and how to best set up your investing strategies and plans for the new year. We will explore the future of our market in the PNW and give you the tools you need in order to build a PLAN for the new year.

Tarl and his team at Fixated have invested over $50,000,000 in real estate deals in the Seattle/Tacoma market over the last few years.

As you know by now, we only focus on the best content, with the best investors around. We dig deep into the strategies local investors are using in order to take advantage of this market change; no BS allowed! Its time to change, its time to grow, its time to make money!!

Join FORE Tacoma on January 29th 2020 and kick start your best investing year!
Don't forget to RSVP!

See you there!

@Brad Warshaw do you have a contract with this GC?  Or do you just have an invoice that you paid?  

Depending on your state, i would honestly go find a solid attorney that specializes in contractor laws.  Show them what you signed, any emails etc, scope, and ask if there is anything legally here that can help push them to move forward.  I have found that the squeaky wheel gets the grease.

Im not saying to sue (not yet), just saying to explore your options and be able to get advice.

Sometimes you can reach out to your local master builders association for referrals for attorneys and consultants. 

Good luck.

Fixated On Real Estate - How to Build and Scale your Portfolio! Steve Rozenberg & Enrique Jevons

DATE/TIME: Jan 15, 2020 - 6:30 pm

Location: Bellevue College - Building C

CLICK HERE FOR MORE INFO and RSVP: FORE Meetup Website

Description:

Are you a Badass Investor building a real estate portfolio or looking to start? How do you go from ZERO to TEN rentals? Or what about TEN to FIFTY? To ONE-HUNDRED? What about building and scaling all the way to a THOUSAND units?!?
What are the pitfalls and rewards that you must face and accept with each phase of building your portfolio?
At this Fixated On Real Estate we have the EXTREME privilege of having two iconic real estate figures presenting and sharing their experiences with building huge real estate portfolios as well as managing thousands of units along the way.
Steve Rozenberg and Enrique Jevons both come from varied backgrounds in real estate. One is a full time airline pilot that stumbled into real estate and manages thousands of units while still flying planes. The other quit their career in the hospitality industry and started BRRRR'ing (Buy,rehab,rent,refi,repeat) properties years back and has since built a large portfolio and manages thousands of units.
Both Enrique and Steve will bring a dynamic approach to helping show you how to go from 0 units, to your very first! As well as for those of you who are experienced that are looking to scale to 10, 20, 100, or more units!

As always at FORE, we provide the greatest networking in the PNW for investors, along with NO BS education and experience.

AND FOOD!!! Yay!

*Always No BS Investment experience
*Incredible Networking
*Best community in the PNW for investors
See you there!

@Julie Hill

This sounds like an awesome deal, my favorite kind actually, congrats!

That said, I have had amazing experiences with cash for keys and for sure financially motivating tenants to move out.  The key is to have discussions with them, be up front with what is going on and then to have a time line for financial incentives, PLUS get it all in writing and signed.

For example, we just bought an occupied messed up property in Tacoma WA.  Prior to purchase we had the month to month tenants sign a new TERM lease that expired at a certain time.  However, within the lease we set financial incentives for if they were to vacate the property early, and we gave them a small money bonus for just signing the lease to begin with.

Here is an example from this specific house. Their current rent is $950/m from previous landlord.  We paid them $200 for signing the new lease. The new TERM lease is for 30 days.  After the term is over, we do not have to go through the very long eviction process since the lease does not renew month to month.  We can go straight to the courts and have them out in a matter of 2 weeks tops in our area because of this.  The key is, they signed a TERM lease (i keep writing that so that the other BP contributors dont write about "giving notice", this is their notice and they signed it).  In the lease, we also gave a $750 incentive if they are out within 2 weeks of signing.  Or they get $250 within 3weeks, and NOTHING if they move out at end of the term. At this point, the tenants are on track to be out within the 2 weeks. Im happy to pay the $750, its pretty much the rent we collected already and costs me nothing, but it saves me on time and holding costs AND more importantly, the headache of an eviction.

This is just one example. I have also had great experiences with hoarders by paying for movers, giving them something to sign that says they are out in 2 weeks and they get a nice check from me (with a bonus just for signing the document).  The doc basically has them waive all their rights to living there after the two weeks, and them accepting the bonus means they agree to it.  They dont get the additional money if they are not out.  This is pretty much similar to the term lease example mentioned above.

I AM NOT AN ATTORNEY, so consult your own legal advice for your specific state. All of my agreements mentioned are written by local WA state attorneys that specialize in this line of work.  I would advise you to have the attorneys help you too.  

Hope this helps.