All Forum Posts by: Lane Kawaoka

A little last minute but I'm putting together a small meetup for other passive investors in Seattle. It's a little tricky to hit a max headcount of 8 with the flake-y nature of Meetup, but I really wanted to get into the nuts and bolts of our topics and foster genuine relationship/networking that is only possible with a small group. Please no brokers, agents, wholesellers, or wholesellers posing as investors (you know who you are).

Before I start restricting membership, charging membership buy-ins to keep the tire kickers away, and asking a million pre-membership questions, I wanted to leave an open door to the pre-qualified BP Nation. ONLY FOR A LIMITED TIME! ;) Just kidding, there will be no sales or Guru pitching.

Maybe we can do spin-off mastermind for more advanced investors if there is interest. But I'm and introvert and I like it when there is less people.

Please RSVP below:

http://www.meetup.com/Passive-Cashflow-w-Real-Esta...

Mike D'Arrigo Actually when I buy a mutual fund I visit every company HQ and interview all their senior leaders. Not really only if I had stocks.

You taking a break from sipping Pina Coladas on the beach,

I am maxed out with the amount of Fannie Mae properties at 10 SFH loans. Now instead of the sweet 5% 30 year loans I have to cold call a bunch of credit unions to find 80 LTV 25 year amortization 5 arm for 5.25%. Its not bad but it has made me rethink my investing strategy and consider 1) apartment buildings or 2) making my own syndicate/fund or 3) keep buying more SFH with these terms.

I have been give a lot of offers for older RE investors to cash out to someone like myself so I would like to package these portfolios to other investors as a stabilized fund and offer 5-7% preferred rate paid out and retain the rest of the Cashflow as my profit. Was wondering if you would be willing to chat or give me guidance.

Yoochul C. What's special about burford that you asking?

Hi I'm Lane in Seattle. I would be willing to help other passive investors. Sorry wholesalers, flippers, birddogs I can't really help you. I promise I will not just talk you ear off and I don't really like hear my own voice ;) I will work for a Starbucks coffee and a double bacon breakfast sandwich so no you do not have to raise the limit on your credit card to work with me.

I have checked with the big national lenders such as b2r, colony, Visio, Lima who charge 6-7 percent and 3-4 points. I did find one small credit union that gave me 5.25% 25 year amortization, 80 LTV, 5 year ARM, and only 0.5 point fee - problem is they are restricted to certain states. Not saying that above rates are bad it's just there are some hidden advantages where you pay more for the ability to not have to shop around (more time spent finding deals than cold calling banks) and quickness of underwriting with less checks.

Sort of a similar situation or idea... I heard of landlords buying appliance/maintenance for their rentals and making their tenant pay for the deductible (50-100 per event). Some even empower the tenant to do all the coordination to get fixes done. Personally I'm not a fan because most of my tenants would not have the initiative to pick up the phone let alone pay the 50 dollar fee. I think you have to make it as easy as possible for your tenant because the last thing you want is to have your tenant to let a small problem get out of hand such as anything to do with water issues.

A savvy investor would not even give it a second look (inquire about Sf or bed/bath) unless it was priced at 80-110k). Just saying.

@Susan Franklin@Kevin Moenruns a Seattle meetup and he specializes in notes. 

I would really suggest if your starting out to go with the b- to a- homes even though the returns aren't that great. You will see from time to time people without a following (no votes - those who offer no value to community) post 60k deals that rent from 800-1000, I call these sucker homes that other are other more savvy buyers leftovers. Some of these places have nice pics and good rehabs but are in terrible places and you will have trouble collecting the 900 rent without a gun for protection.