Hello,I’m looking for possible contacts in the Spokane area that might have some insight to off-market multi family properties. 30+ doors preferred with value add possibilities.Also, are there any meet ups scheduled anytime soon?

Hey community, I am exploring starting a hard money lending business and wanted to start a thread for all advice on the topic (including what not to do or tools not to use).  

Thanks all, Still some points are not clear to me.e.g. some Company which installs shower panel & Door which includes parts and labour and they gave us invoice and we paid them using credit card or check so now do we need to issue them 1099.

Con - as discussed; you may have to repeat your year's activities to both CPA's.You may have an overall larger bill from both professionals.Pro - You may be working with two different specialist.

The property would need to be distressed,  purchased at a significant discount, and require a larger Rehab budget.  

I'm curious about the vehement opposition to PMs listing - sure, I'd RATHER not have all that competition, but certainly many of us are scaling our portfolios to have many doors, so it becomes semantics after a certain point, IMO.  

Would you knock on their door and inquire if they were interested in selling.

In less expensive properties we need to save a larger percentage.

Some benefits I have noticed while househacking in my triplex:- I am at the property daily and can stay up on any maintenance and issues without having to remember to drive by or check in with a property manager- Rent collection is as simple as a door knock.- Tenants generally will be less inclined to try any funny business because they know you are right next door (or above/below them)- It's more conducive for learning as you go.- More favorable loan and insurance terms for an owner occupied property.There are also downsides such as:- Less privacy- Blurring of the landlord vs neighbor relationship- Can be harder to be the "bad guy" on things because you see your tenants often.

I managed the rentals myself up until early this year when I hired a property management firm in order to get some free time back, have some backup so I can go on vacations again,  and in response to the hostile political environment towards landlords in seattle.My long term plan with REI is to get to a large enough door count such that with sufficient equity the net cash flow is enough to live on comfortably  (which I would define as matching my current gross software engineer's salary).