All Forum Posts by: Account Closed

Hi @Justin NA

Welcome to bigger pockets, I am also from Bonney Lake and invest locally. I flip in pierce county and out of state as well as having several houses and duplex’s as rentals. 

Let me know if there is anything I can do to help with getting started investing or deal analysis. Have you thought about house hacking a duplex to get started?

Tyson

@James Marszalek runs one that meets once a week and we also connect on Facebook.

State Farm Insurance Shane Ennis in Puyallup. 

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I get the Aristocrat II Pale Clay from Lowes for $1 a square foot and $97 install.

I just rented to new renters and they are going to do autopay with direct deposit into my account. They are asking for a receipt for paying rent each month for peace of mind. I have never had a renter ask for something like this. What would the bigger pockets community do with a request like this?

Welcome! Pierce county is a great place to invest. Let me know if you have any questions.

My wife is a real estate agent in Pierce County and she highly recommends CW Title and Escrow in Puyallup.

@Sterling White - I was thinking we take 1/3rd of our buyin cost of $14204 and then having him pay $5k for our time and effort getting fixed up and rented as well as my dad and I would take current profits from it of roughly $10,000 and split between the two of us.

@Curt Davis - The thought is to add him into the LLC so we can combine both properties into one loan and pull the equity out to purchase additional properties.

I have a somewhat complex situation that I am trying to work through and wanted to ask the bigger pockets community for some advice. A little background on the situation is that 14 months ago I purchased a rental property with my father. 6 months ago I purchased another property with my father, brother In-law and I under and LLC. We have been discussing adding my brother in-law onto the property purchased with my dad and are trying to come up with a fair value for him to buy into the property so then we can move it under the LLC.

The property we are looking to add in my brother in law was purchased at $137,500 and when including 25% down, closing costs and fix-up costs my dad and I are all into it for $42,612.  The property is now worth $210,000.  My dad and I have discussed what would be a fair buy in price and are thinking about it in different ways.  I was hoping the bigger pockets community could help us come to a reasonable price.