All Forum Posts by: Tiffany Plovie

@Stacey Olson 

I hosted an Official BP Meet-Up with Brandon Turner last night, and I wish you had been able to attend! We discussed both amongst each other and collectively our goals and ways to pursue them. I feel that you would have really enjoyed it!

I have been an active investor and agent in the Puget Sound area since 2002. Contrary to popular belief, some agents are able to bring their clients off-the-market deals much like wholesalers, plus we have the added benefit of having access to the MLS. The agent just has to be investor-friendly.

Welcome to BP!

  I am so looking forward to meeting everyone tomorrow, and finally putting faces to names. I know this will be a spectacular event, if only for the people involved.

   As @Brandon Turner has mentioned before, this will be a relaxing, fun event that will focus on providing valuable opportunities to network, develop solid connections and simply to be around others who speak and think 'Investor'.

We are certainly our own breed of people!

Location:   The Ram- Lakewoood    

                   10019 59th Avenue

                   Lakewood, WA 98496

                   Phone: 253-584-3191

When:        7pm-10pm, July 8th

Website: http://www.theram.com/locations/wa-lakewood/

If you have any questions, please do not hesitate to call me at 206-849-5730. We look forward to seeing you there!

@Lucas Pinto 

@Timothy Tooker 

@Kenneth Hynes 

@Lori Valene 

@Jeff S. 

@Eric Belgau 

@Aaron Reynolds 

   I have added you all to the list! I will post the event details again tomorrow (location, address and contact information).

At long last, the day is almost here!

@Darin M. I am here to help! Whatever I can do...

@Bill Larsen  and @Karen Margrave 

     I agree with Karen. Orange County will not be subject to same level of market volatility as other areas due to the simple law of supply and demand. 

  It is geographically situated on a piece of land that is not only coastal, but easily accessible to one of the largest cities in the nation. It has excellent airline access, a temperate climate and a limited amount of space available. How many other places in the country can lay claim to the same attributes?

   The population desiring to live in OC will always outweigh the amount of housing that is readily available. Hence, more demand and higher prices.

@Darin M. Ask for a longer inspection window to make sure you are not missing anything. I am concerned about the termites. They often do more damage than expected, and will not know until those walls are opened up.

   If there is one thing I do know about flips, it is that they always cost more and take more time than you think they will. I would use the framing issues and inspection reports to drive the seller's price down. Frankly, you need about 10 to 15K more profit to allow for a larger margin of error to make this deal worth your time.

@Rob Cee 

Where is the property located?

  I would have to know more about the location to help you. You are making a great deal of assumptions in regards to appreciation, and I am afraid you are betting the bank (and your future) on an economic climate that may or may not happen.

   I always lean towards generating positive cash flow and buying and holding, if at all possible. I understand that you have expensive repairs looming in the future, and that those may severely impact any cash flow you DO make now. However, loans don't last forever, but property does. Eventually, this loan will be paid off, you will have tenants paying you a monthly sum, and you will be able to afford all of the expenses while generating positive cash flow in the future.

     You have held on to it for ten years, why the rush to sell now? The market may be steadily increasing, but you are still facing a loss.

 The true question is how to take this dog and turn into a goldmine.

More details, please!

@Casey Stratton 

Welcome to BP!  You are in a solid place! Congratulations! Most people do not even get to this point until much later in life.

   The whole point of real estate is to fund the things you value... Family, friends and the creation of priceless memories. Your motivation is in the right place, with hard work, the rest will come.

   Start small.

   Listen to @Michele Fischer , she knows what she is talking about.

Investments are not a 'one size fits all' proposition. You have to do what works for you. Ultimately, the deal should determine what investment you chose to make. I would focus on getting SFH's and duplexes with highly motivated sellers, properties that already have equity in them, and then improve them some more (up to, but not exceeding the value of the area) to create even more value.

Keep a contingency fund, and get moving!

@Nana K. 

Welcome to BP!  You have certainly come to the right place. My advice to you is this:

Start small.

You are at a good starting point. You have a clear idea of where you stand. However, you are short on cash reserves. Save your money. Get familiar with your area (I mean really familiar... Drive around and look at neighborhoods, even those outside of your comfort zone. If buy and hold is your goal, the best places to invest may not be the areas that you are considering). The best deals are not on the MLS. Network within the site and your local community to find people who can find you deals. This may be an experienced agent who is well-connected, a wholesaler, an investor or a combination of the above.

Read this:

http://beta.biggerpockets.com/real-estate-investing

Finally, know where you are going. What is your ultimate goal? What level of income will make you feel safe and secure? Set a number. A clear, precise goal. Then set-up actionable steps to reach whatever goal you set for yourself.

Start small, grow with confidence and know that you will make mistakes. We all do. Success in real estate depends on your ability to withstand set-backs, push-downs and unexpected challenges. Pick yourself up, brush yourself off, learn and keep going... And I guarantee you that you will be successful.

@Mike Hartzog 

   Welcome to BP! It will be a pleasure to 'see' you around. It sounds like you have had quite the collection of experiences in real estate!