All Forum Posts by: Tony Wooldridge

@Nicholas Zaharevich, how often due you get over to the EAST side to check on your properties? More specifically your property in Waitsburg, Washington? Reach out if and when you know you are going to be over our way we would love to have you! Here is to wishing you nothing but GR8 success in your 2019 REI ventures!

@Andrew Bang, RE as I am sure you know, always has to start with the sincerity of wanting to establish long lasting relationships with like minded people. So in my humble opinion the most cost effective way is to try to establish relationships with the folks you seek by adding value to what would interest them ($ for their projects)! Write a blog that gives insight or give something to them first before asking them for something! You have to know your target audience to be effective in this area. I know this seems like common sense but most of the time it is the simplest solutions to problems that work the best. Best of luck to you in finding what you seek. Here is to wishing you nothing but success in your 2019 REI ventures!

@Kavin Kuykendall, it appears that you have the concept of running the #'s down.  The more you do it the better you will become like anything else.  No need to apologize for the lack of knowledge as that is the beauty of why BP is so powerful.  Draw on others knowledge base to help you over time develop your own.  When you make an offer and put in your earnest money, you will be given a inspection period (due diligence) to have contractors and inspectors come in and address the known (and through the inspections unknown things as well) concerns/projects that you want to take care with the given property.  This inspection period can be negotiated as far as the time needed depending on the condition of the property.  For example if it is a value add and the property is in poor shape you may want to ask for a little bit more time to get bids and inspections done.  A newer more turn key place might not need as much time.  I recommend always have an inspection done.  There is ALWAYS things in a home that you will not anticipate.  By getting an inspection (it doesn't guarantee you will find and see everything) it will  help to eliminate a good majority of things you wouldn't know if you didn't get one.  

If after you have your inspections / contractors come in and they don't find anything unexpected and the bid is doable, then you might go back and close on the property.  However, if in doing the inspections / contractors come back with some unforeseen hidden HUGE cost you could back out of the purchase.  But make sure that your offer has the language that allows for you to get out of the deal and still get your earnest money back in the event financing/unforeseen high cost of something wasn't anticipated.  

A GR8 book to look into is J Scott "Estimating Rehab cost" it goes into extreme detail about how to come up with a fairly good # for repairs.  I believe that he just revised it with updated prices in today's market.  Anyway hope this helps.  I will be looking forward to the opportunity to meet up sometime.    

@Anthony Theokary, this may sound like a broken record but cozy appears to be fairly user friendly. Although I am utilizing their service for my new tenant to pay rent, this will be the first time that I have done this so we will see. But the reviews on cozy have been good. Not to mention as stated above it is free. What made it attractive for my tenant is they allow the tenant to report their actual rent payments to their credit report (experian if I am not mistaken). They offer a lot of services and most all but two are free! Hope this helps. Best of luck in your search. Here is to wishing you nothing but GR8 success in your 2019 REI ventures!

@Jeff Wittig, my wife and I have been toying with the idea of looking at the Multi-Family space in Spokane.  Our son has recently moved over there for college.  Trying to make some connections  in Spokane with the thought that we might invest over there some day soon.  I think Spokane is one of those hidden gems (for now at least)!  Would love to get ahead of the path of progress!  Hope this finds you well.  

@Christine Kankowski, was just checking to see if you got the kiddo in college, if I may ask which one? My wife attended Whitman. Regardless, they are all pretty good schools. Did you guys determine if you are going to be relocating? If so do you plan on providing PM services in the WW area? Hope this finds you well. Here is to wishing you nothing but GR8 success in your REI ventures!

@Kavin Kuykendall, I want to commend you on putting in the work to make your REI dream become a reality. I see you are putting in the work to analyze deals and make this happen, once again GR8 job and keep after it. With that said, may I ask you a couple of questions about some of your #'s (?) How did you come about the $1000 a month per unit? It also appears that your insurance payment ($36 (2%)) may be slightly low. However, it looks like the rest of your numbers are fairly solid. If you haven't already done so, I might recommend making contact with a local PM to get real time #'s as they relate to the WW duplex rental community and more specifically in this neighborhood. Keep me posted on how things are going! Here is to wishing you best of luck in your 2019 REI ventures!

Hello once again BP Nation (Walla Walla), I am attempting to get us all together once again to see if you all would like to attend a Walla Walla Washington BP meet up. I tried approximately a year ago (a lot has happened in that time!) to get us all together (life is busy for us all!) to no avail. However, I am trying to find out what day of the week and time works best for you. Please feel free to PM me and or leave a comment as to your preference in this forum post.  This event is for nothing more than to get local BP members together in the hopes of networking with one another and talking about what we all love REI! I will be looking forward to your responses! If I don't hear from you all, I will post again and again until I achieve success. Thanks guys. 

Tony Wooldridge

@Jeff Wittig, GR8 job man it looks good! Are you going to be listing it yourself or are you using an agent? The first is always the most gratifying! Keep up the good work and hope to see more like this from you. Best of luck selling this one. Here is wishing you GR8 success in your future 2019 REI ventures!

@Nate Currier, welcome to BP! Saw you owned property in my area just wanted to reach out and say hello.  If you don't mind me asking, you mentioned hiring a PM in WW how did that go and is it still working as you hoped?  And if I may whom did you hire?  If you are ever back over in the area feel free to reach out as I always enjoy meeting with other like minded investors.  Best of luck to you in the future!