All Forum Posts by: Carin Moore

Thank you both!

My husband and I would like to purchase a new primary residence and rent out the home we currently own in Woodinville (Seattle area suburb) as an entree into real estate investment. Is there a way to leverage equity from our current home to secure a jumbo loan? I believe funds from a HELOC must only be spent on the home you leverage the loan from. Yes? We could do a minimal down payment for the new home, but we prefer to put more money down since the market is so competitive and it is easy to get outbid on a property here if your down payment is small. Any suggestions? Thank you!

That makes sense. Thanks, @Steve Vaughan!

Thank you, Steve G. We are just now trying out some investor groups in the area and will get the chance to network with other wholesalers, I'm sure! 

Scott Egbert, thanks for offering up some advice via  quick call.  Rod will be giving you a call this week!

Kevin R., your suggestion was smart to call on multiple title companies. We have talked with two and will keep trying. We really appreciate your very specific ideas that you shared! 

Thank you Pete Perez and Ellis Jackson.

Very impressed by the response from the BP community. Let's do this!

We have talked with Chicago Title's senior escrow professional, and they told us it is not possible to structure a contract using "and/or assigns" with a simultaneous close in the state of Washington. Or, more importantly, we have to show funds available to close before we assign or switch to the new owner. Is that truly the case? We have talked with Mortgage lenders and no one in the Greater Seattle area seems familiar with the concept of wholesaling. Can anyone point us to a title company that has experience with a wholesale contract? Or is WA state better for flipping, the BRRRR method and/or wholetailing? Thank you for ANY help you can offer. Carin and Rod