All Forum Posts by: Tim Haag

@Bill Gulley

@Account Closed

Great info. Thank you both. We do have an estate attorney. I'll make sure we do the contract either thru him and/or get with a real estate attorney as well to make sure we are legal. I'll have to check and see if they buyer plans to remove the trailer and build or if he plans on rehabbing the trailer. Its been vacant for a few years, had a small fire, and probably has mold. If he does plan to build, then I'm sure we can get him to wrap the property up with the construction loan and pay off the estate once its complete. I think I need to get some more info on the buyer's intentions.

@Zach Schwarzmiller

That sounds good. I appreciate the info.

Thank you @Tom Keith

My mom is handling her mother's estate which includes a lot with an old trailer in Cle Elum, Washington. She has an offer on the property but the buyer wants the estate to carry the contract. We are going to give the buyer a 5 year contract with a balloon payment to give him time to finance it with a bank. The sales price is $42,000 with a down payment of $9000. What is a typical interest rate to charge for something like this? Would you recommend interest only or a normal amortization? Thank you.

@Michele Fischer

I might have to try that. I've been meeting some great people online here and looks like I might get to meet a few in person over coffee. Looking forward that. I'll ask around if there are any BP meet ups around here, and if not, maybe we can get one started.

@Dmitriy Fomichenko

Thank you.

@Jose Figueroa

I'm brand new, haven't bought anything - yet, but I've read both the J Scott books and they are amazing from a newbies perspective. I got both the hard copies and the digital copies and they came with spreadsheets to help in figuring out repair costs and how he analyzes deals. As for TV shows, I've really enjoyed the flipping ones for inspiration, but they are more drama than anything. DIY shows have been great, and I've learned a few things to look for when buying a house (my personal residence). I knew to look in the crawl space, where I found standing water, and learned a couple tricks on how to spot water damage or signs of previous water damage in the ceiling and around the outside of the home. Holmes on homes is a great show to be aware of bad workmanship as well. Good luck to you.

Thank you all so much for the advice, welcome, and great info.

@J. Martin Thank you for this info. I wasn't sure what the vote button was for and now I see how to tag people.

@Jay Hinrichs @Marcia Maynard Great to meet some locals. Jay, I'd love to meet for coffee. Can I message you to set up an appointment? Marcia, my goal is to build that buy and hold portfolio. I'd love to meet you for coffee sometime as well.

@Gerald K. I did set up some alerts with the terms Vancouver and Clark County. Hope that will work. I'll play with it a bit to fine tune it as I go.

@Paul Timmins I did find a couple REI groups online down here. I'm looking forward to checking them out.

There's so much info and resources available on here that I could spend days going thru it all. I appreciate all the great advice and encouragement. I'm looking forward to meeting and talking with more and more people in the industry and in my neck of the woods.

Plan of attack: Get a plan of attack together. I've got goals, now I need to work them backwards to a starting point. I see this site as the perfect starting point. Now to plan my next move.

Thank you Josh. I did buy both books in hard copy and digital and have read them both. Great information and now I'm having my wife read the Book on Flipping. Love the pod casts and all the great info you've created here.

Hello Bigger Pockets. My name is Tim Haag, and I live in Vancouver, WA just a few miles north of Portland, OR and I’m brand new to investing. I grew up watching Carleton Sheets and Dave Del Dotto on TV when I was a kids. I even went to a Dave Del Dotto seminar where he was selling a $10k program that came with a computer (1991) to help you get started and invest in real estate. Of course I didn’t buy that, but I did buy the Sheets program and listened to the tapes while I was in college. I just never had time or money to get started. Flash forward 20 years or so to today where I read Rich Dad Poor Dad and had a renewed interest in real estate. Today, I’m married with boy girl twins who will be 3 very soon, and I’ve decided that I want a better future for them and I’d like to eventually have more time at home. Currently, I’m a project manager for a asphalt paving company in Vancouver. I love the company and I love my job, so I plan to invest in my “spare time”.

I’m looking to get started flipping at first. I have some cash and credit cards and thought I could do a couple of flips (over time) to build a bigger reserve and eventually move into buy and holds for the passive income flows. I know there is no get rich quick other than the lottery, so I plan on the methodical get rich over time philosophy. I’ve been listening to the pod casts over the past few months and I’m up to #41 or so now and I love hearing the stories and different strategies that everyone has.

I’m interested in getting involved in REI clubs or meetings around here, and I think I’ve found a couple online. I’m going to start checking them out so if anyone knows of a good meet ups here in Clark County, I’m all ears. I’m also thinking of taking some real estate classes to get licensed so I can actually view houses without bothering my agent all the time. The last thing I want to do is waste someone’s time.

This is all pretty overwhelming for me right now. I’m just trying to take things one day at a time and get a game plan together so I’ll keep listening to the pod casts and scrolling thru BP for ideas on getting started and strategies