All Forum Posts by: Tim Lynch

Hi Sophie! I invest in multifamily 5+ units in the Clarksville area primarily. I would love to see any deals you have around there. 

Hi @Jason Bohling! I’m a life king resident and realtor in Olympia. For construction loans in Olympia I like Lindsey Bamba at Olympia Federal. 

I work with several builders, and I see costs vary quite a bit. Depending on your finishes and size of home you can estimate the cost to build your home (this does not include the cost of the land, installing utilities, land development, etc.) to be around $250-$300 sq/ft for a custom home.

Hope this helps! Let me know if there’s anything else I can answer for you.

@Kyle Curtin. Thanks for the suggestion, the podcast is great!! So much to unpack!

Hi @Judd Meng! If capital is what’s preventing you from getting started you could find some creative financing opportunities (subject to or seller financing), or find a partner that brings the down payment funds. 

Getting started is difficult, but if you find a good deal, have a team and plan in place to operate the property and you manage the asset, there are people that will put up the down payment funds so they don’t have to do any work. 

Hi @Slim Geransar! I used to invest solely in my local market in Olympia, WA, but made the change to OOS investing to capitalize on better COC returns. Yes, the COC is better, but the equity gains will be lower since you are purchasing at a lower point (20% of $100,000 purchase is $20k, where as 20% of a $300,000 purchase is $60k), so you really need to think about if you are an equity or COC investor. Where I am at, I prefer to take more cash returns and realize lesser equity. I have seen some great success in TN and KY, but like everyone else is saying, you have got to build a strong, trustworthy team.

Best of luck!

Hi Timothy. I an a real estate agent in Olympia and would love to help you find your first house hack! I’ll send you a private message. 

Thanks @Gary Abner and @Dave Foster!  I will run some scenarios with your suggestions.  So many options! :)

@Dave Foster Thanks Dave! I have two properties that I have and am holding long term, a 10-unit and 4-unit, and just completed the refinance part of the BRRR on the 10-unit before COVID. It worked great!! Waiting for fees to settle a bit now to refi the four unit.

The business strategy I was hoping to achieve would be to flip a few properties each year and take those proceeds to buy a long term hold property in the same year. I figured if I can take those proceeds and buy a long term hold property in the same tax year I could show zero income for the entire year for the LLC, thus not have any taxable income. I suppose the tax man will always come knocking and win...

@Wayne Brooks Thanks Wayne. It's actually a two member LLC so we get K-1s, but for East math in the scenario I went with it being a one member. Appreciate your time and insight!

@Wayne Brooks Thanks Wayne! I have reached out to my CPA to get a meeting but was curious if anyone else had some advice on BP.

To see if I'm understanding correctly here's a scenario. The LLC closes two deals in 2020; 1 deal nets a profit of $60k and the second nets a loss of $20k, so the LLC would report annual revenue of $40k. The LLC then gives me my K-1 at the end of the year and I personally report that $40k as income (assuming Im 100% owner of the LLC). Is that correct?