All Forum Posts by: Tim Holmes

Exciting project! Looking forward to the pics and updates.

Welcome to BP. I'm in Tacoma so it's good to have more locals. I spent this weekend drawing my next house. May need your review and stamp if I decide to go with it.

@Roger Carl REAPS has a meeting in Bellevue on the third Thursday of the month. If you register on line your first visit is free.

I have a similar situation so I went to the county to pull an as built. The house is too old so they didn't have one on file. So had to dig it up get a good inspection. Make sure everything's working and then you're good to go. The old systems are the most simple. I don't think you need insurance I think you need an inspection.

We are not going to loose the middle class anytime soon in western Washington. Its all about jobs. In my area, Frederickson, we have Boeing and other large employers. Sierra Pacific is building a 276000 sf lumber mill, with 3,000,000,000 sf of warehouse space. These new employees will need housing. They will be able to afford a sfr but many will choose multi because they don't have the discipline to save a down payment or they just want a crash pad with no maintenance. So its all about the microeconomics, or whats going on in your hood.

If there is a lot of trim, that takes a lot of time because of all the taping and cutting in. If you are going to change to lighter colors that will require at least two coats. The 20 foot ceiling may require scaffolding. The cracks take time but usually not to much material. So $7500, I don't like it, but it's probably in the ball park. Get two more bids and make sure they are using a quality paint.

@Lorenzo Gonzales I will admit I am old school. Before Dave Ramsey I followed Larry Burkett with his book Financial Security and A.L.Williams, buy term and invest the rest. Some say, go for it when your young, if you fail you have time to start over. However if you fail you hurt people even if that's not your intention. New investors should be warned of the dangers of leverage. Like Warren Buffett Says, when the tide goes out we'll find out who is swimming naked.

I agree with James Klafehn,and as to your idea, they have REITS for that.

Welcome @Anil Sharma. REAPS has a meeting on Jan. 22 @6pm @the Bellevue Red Lion.  It's free for first time non members if you sign up on line.

Welcome Jarrett. I'm a fellow driver and real estate investor. Hang on to that job it'll throw off a ton of income that you can invest in your real estate