All Forum Posts by: Tyler Morgan

Just happened on this post @Melissa Murphy. Glad you are staying involved on BP. That’s a great first time Real Estate story. 

Originally posted by @Ana P.:

@Tyler Morgan  

Thank you for he information you provide. Do you know any agents in the area of Spokane you recommend working with? Thank you!

 I am sorry, Ana. Somehow I missed your message till now. Look in my post signature for my contact info.  

@Shelby Williams @Nicholas Q. @Zack Clark  @Jacob Wyatt  @Ana P.

This is the 2017 Market Data Report for Spokane. PDF Let me know if you have any questions.

@Jacob Wyatt  

Spokane is a great place to invest right now if you can find the deals. Vacancies are at record lows and rents are keeping up with inflation+. 1700+ new units are permitted/planned to be constructed in 2017. These will all be class-A units that will have the highest rents. What we are expecting then is that class-B units will be very popular as there is little planned expansion in those working-class unit types. This means that owners of Spokane's mid-sized and small multifamily should see vacancy rates lower still and rents able to increase due to the high lessor's market. 

I hope that helps. Feel free to reach out if you have specific questions or need help finding properties.

Here is a link to NIA Black's 2016 Market Report for Spokane/Coeur d'Alene. The 2017 report hasn't yet been published online, but I have access to it if you are interested.

Tyler H. Morgan | Prime Real Estate Group

It can be hard to find a real estate agent/broker that is willing to team together to find properties, crunch numbers, and submit numerous offers. That's how I decided to become a real estate broker myself. My agent was helpful, but he didn't move as fast as I needed and was reluctant to write offers that were aggressive.  I see requests regularly on the BiggerPockets forums from people looking for a Realtor that is ready to work with investors. 

Here I am! Call, email, or text anytime. 

www.tylerhmorgan.com
[email protected]
c: 509-240-2235

Originally posted by @Casey Eason:

Sorry I missed it! I planned to meet up and then my kids came home and found their favorite chicken had died. The resulting funeral service got in the way.

 Great dad! Way to keep the priorities straight. 

Wish I could have been there. I have been trying to get connected with other investors here in Spokane. I just moved shop from Knoxville, TN a month ago and am now trying to get my barrings back. It's a lot of work to learn totally new market!

@Josh Sicotte

Hey Josh! I am glad you have joined in. I am in Knoxville and have been working on finding my first deal for a couple months now. I'd love to get together and talk shop. I "drive for dollars" many days a week and have some, I think, valuable insights I'd be happy to share about areas to invest. I am by no means an expert but would be happy to help in any way I can. 

I too am working on becoming an RE agent. It is my desire to be one of those "investor friendly" agents. My test is coming up (fingers crossed!). 

If you are available, you should come to the Knox REIA (Real Estate Investor's Association) meeting this Tuesday at the Holiday Inn on Cedar Bluff. It starts with a networking hour at 5:30. I went for the first time last month and it went so well I have been counting the days till the next one. I was shocked at just how friendly and encouraging everyone was and how freely they shared valuable information. Truely inspiring. The $20 enterance fee was the best money I spent all month. Seriously great. Their website is KnoxREIA.com Hope to see you there.

Come to the Knox Real Estate Investors Association next week! 5:30 at the Holiday Inn on Cedar Bluff. It's awesome. More networking than you can handle and tons of great insider info and tips. KnoxREIA.com for more info.

Wholesaling has two main methods of operation, as I understand it. 1. Purchase a home outright at a low price, usually with cash, from any source (FSBO, MLS listing, auction, etc.) and then without improving the property immediately sell the property, usually to a real estate investor (but not always). 2. Find a property and negotiate a low price for it with the owner. Once the offer has been signed you now have the property under contract. When you made the offer to buy contract you included language that gives you the right to "assign the contract" at or before closing. So now, before the date for closing) you have to find a buyer (or you already had one lined up) that will pay more for the property than the property owner agreed upon. BE WARNED: if you fail to assign the contract, you are likely contractually obligated to purchase the property on or before the closing date. (Always consult a lawyer, I'm not one 😉) As you can see, wholesaling is not easy nor simple. If everything doesn't line up perfect, you can be stuck with a property that you hadn't planned on owning for very long or at all!!!! Though, if you are well connected in your region with other REIs and experienced with real estate sales, it could be for you!

Yes, like Micki said, no need to worry about a contract assignment deal. Actually assigning a contract is one of the main tools for wholesaling properties. No need to be intimidated by it. Do your due diligence. Follow the guidelines found on BP and if the numbers work, pull the trigger!👍🏻