All Forum Posts by: Tony Wooldridge

@Brad Larsen, Good post, which has stimulated a lot of good thought!  Thanks.  Full disclosure, I have very minimal PM experience compared to your's but after reading through the thread, I think I might have an idea!  Like everything, it requires work.  Won't solve your current problem but may alleviate it from happening again in the future. Similar to what our colleague, @Matthew Paul, mentioned above. When bringing in new clientele especially, make a side by side comparison of two property owners (one that gets it, and one that doesn't) and present this to them so they have something tangible in front of them instead of just telling them your verbal experiences with past problems.  Thanks for allowing me to share, sincerely hope you find a win/win of dealing with this.  Best of luck to you in your future!

@Nathan Gesner, extremely curious about your "For the first time ever, I saw homes sit vacant for up to six months." statement.  It begs the question, what happened?  Did a major employer leave?  Have you dove into the issue to figure what the underlying problem really is/was?  The reason I ask, depending on the reason as to why this happened can be a GR8 learning lesson for us all!  However, with that said, I do realize RE is local but none the less was wondering if you figured out why this happened?  Thanks ahead of time.  Here is to wishing you nothing but GR8 success in your future.

@Sam Denny, I have zero knowledge of any contractor's in your area, however, have you looked up some property management companies in your area and asked them if they would recommend anybody. Just a thought. If you aren't already doing so, another GR8 thing to do is go to a local Meetup / REIA group, there would be a plethora of people that would have contractor recommendations at these! If you don't mind me also providing a potential starting point (contact) for your architect post (looked at your profile),

@Mike Garrett, is an architect up that way (full disclosure, I have never used him, just have seen him on BP before and he is in my colleague contact list).  Have zero knowledge if he would be interested but worth a shot!  Anyway best of luck to you and hope you find what you are looking for!

Unfortunately, the very reason that led you to have to ask the BP community the question probably gives you your answer!  Tough love is the hardest to except sometimes.  I would highly recommend a new name, best of luck to you in the future.  

@Account Closed, blog post on service animals. Now, I know this post isn't specifically about that but I found this blog to be EXTREMELY insightful. Thanks Nathan GR8 blog! Anyway please feel free to check it out as I think it has some very good stuff that can CYA in the event you find yourself in this predicament! Thanks for allowing me to share and certainly wish you nothing but GR8 success in your REI ventures!

The Blog post as promised: https://www.biggerpockets.com/blogs/9553/69133-emo...

@Jon Ala, if you scroll up in the post you will see the hyperlink to the meetup.  However, here it is again.  https://www.meetup.com/Spokane-REI-Group/

Best of luck to you in the future!

@Jeff Wittig, sounds as if I missed a good one!  Thanks for sharing the information that was presented.  Looks like you and Kelsey are starting to make your splash in the Spokane market!  I am sure you guys are going to rock it, I too look forward to meeting the both of you as well.  Thanks again Jeff.  Hope you and the Fam have a GR8 weekend!

@Tony P., thanks for the insightful post.  I have heard GR8 things about the meetup before.  Like I said, I want to get up there eventually to meet everyone and see how it is run as I am in the process of trying to get my own off the ground here in Walla Walla, Washington.  Thanks again for the info and truly hope to make your acquaintance personally perhaps at the meetup!  Have a GR8 weekend!  

@Riley Holt, I am assuming from your question that you are just getting started(?)  I am fairly new myself and only have a few investments under my belt.  However, just like anything else education is the foundation for it all.  This allows us to make much more calculated decisions as opposed to irrational/emotional ones.  It also allows us to curb our inherit fears which tend to stand in our way (fear of the unknown).  So what is my point to all  of this, you are actually doing it already, asking the questions to help educate yourself, keep it up.  However, I am currently reading Matt Faircloth's book "Raising Private Capital" (It can be found here on BP).  Just stated it but it appears to give you a fairly good understanding of how private $ works and also how to structure it. 

You can structure the loan in two ways, either a loan (debt) or you can offer ownership (equity). It is how ever you two decide to structure it that benefits the both of you. That of course should and ALWAYS be the key to private $, is to structure it so it is a WIN/WIN for ALL parties involved. Anyway, if you have the time and inclination to get Mr. Faircloth's book I highly recommend it, as it sounds it might help you to not only understand the concept of private money and how it works but can give you the basis for structuring your deal with your brother. Thanks for allowing me to share and I sincerely wish you nothing but GR8 success in your future in REI!

Did anyone attend the Spokane, Washington REI-Group meeting? If so how was it? If this snow every stops, I will be heading up there and looking forward to meet all of you! Thanks and hope you all have a GR8 weekend!

@Jeff Wittig, Congrats on getting your contracting business off the ground!  I in no way know much of anything about what you are seeking.  And it appears that you have brought out some GR8 experts in the area thus far.  However, I do know a guy here on BP that has used the method(s) you are seeking to build a GR8 deal of his RE portfolio.  @Steve Vaughan, if you wouldn't mind sharing some insight into what Jeff might be able to look into that would be greatly appreciated.  Thanks Steve, I have not doubt that your advice to him wouldn't be anything less than most of your post to us on BP INFORMATIVE!  Best of luck to you in your future of contracting Jeff, congrats once again!