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Investor-friendly real estate agent

October 16th, 2010 | posted by bobkelly

Hi Seattle Investors,

I'm a newly licensed real estate agent since June and experienced real estate investor. I live in Bellevue and range all over: Snohomish, King, Pierce, Thurston, and Grays Harbor counties. My wife and I own six rental houses, a vacation rental at the coast, and we've just started buying mobile homes for flips. We've done landlording, lease options, and owner financing. I'm interested in hooking with investors to make deals happen. Ideas:

1. Bank REOs - I've been touring lots of bank REOs. I notice that the banks list the houses unrealistically at the after-repair value. We'll need to ignore the list prices. If you can show proof-of-funds, there are several houses I can recommend bidding on and I'd love to preview many more for you.

2. Privately owned, vacant, 120+ days on the market - I've been touring vacant houses of all sorts and would love to submit some low bids for you. Sometimes I see estate sales with an owner/heir located out of the area - they ought to be highly motivated.

3. Mobile homes - These deals are extremely easy. I'm closing on a mobile home on November 1st that I picked up for $3.44 per square foot (1,782sf total). We bought it for $6K, it will need maybe $8K in repairs, there should be $5K in other costs (commissions, lot rent, etc.), and then it should sell over $40,000. These aren't worth my time on a commission basis, but I might get some extra ones under contract and assign it to you for $1,000. Any takers?

4. Vacation rentals - These are not great as investments, but you can set up a vacation rental house that will pay its own operating costs, giving you and your family a free place to take vacations. Take a look at my house at http://www.BobsPacificBeachHouse.com.

Or what ideas do you have? I've got inside access to the NWMLS (private info like days on market, search on bank owned, etc. - very flexible system versus what the public sees). I'm very willing to submit low bids and shock the lazy listing agents. How would you like to use me?

Thanks,

Bob Kelly
Summit Properties NW
peaktobeach@****

On 5:54am, December 15th, 2010 bobkelly said:

How to contact me

bobkelly's picture

To the two Richards who posted this evening and any interested investors in future...

I switched brokerages last week. Please find me on...

http://www.BellevuePowerSearch.com

...and e-mail me at the address you find there.

I will happily send lists of properties to local investors: bank owned, estates sales, 120+ days on the market, etc. I'll let you know about properties I've toured recently. I'll tell you about my experience investing in mobile homes, as that might be a good way for newbie investors to get started with little money.

I've made about 10 wholesale offers for a lady in Bothell: 9 rejected, 1 countered at just $20K below list price. Frankly, I don't know how I could find time to make 25 offers per week a la Graziosi, and certainly not for more than one investor at a time.

I'm recommending three techniques for newbie investors:

1. Use hard money and bid on bank owned homes, estate sales, and other distressed situations. See, for example, http://www.dohardmoney.com.

2. Make offers with 10% cash down, full price, 5 years of owner financing, 0% interest, and a payment towards principal equal to 85% of market rent.

3. Flip mobile homes in senior parks: buy under $10K, fix under $10K, $5K in lot rent/commissions/other costs, and sell for $40K+.

If there are well-funded investors out there who can make all cash offers at 50% of market value, I'd love to hear from you.

Bob

On 2:39am, December 21st, 2010 bobkelly said:

Networking

bobkelly's picture

You can find my contact info through a new site I just put up:

http://www.InvestorPowerSearch.com

I can't find your e-mail address on this site. It hides a part of it. And I can't find your profile either.

I'll hope to hear from you.

Bob

On 20:03pm, May 1st, 2011 micheledmoore said:

Looking to do birddogging in Pierce County

I am looking to do some birddogging for someone in Pierce County area. I am currently doing an internship for my Masters program at Fort Lewis and would like to earn money in my spare time. Please let me know if we can work together.

Thanks,
Michele

On 15:10pm, July 4th, 2011 RDschreiber said:

Have my eyes on 4, or 5 places.

This might not be the way to do this. (If not, Dean, I do appologuise in advance.) I've got my eyes on about 5 places, in Midland, and Spanaway.
I'm sure they're all going to need refurbishing. I want to start my own business, but want to have someone walk me through the process on a couple of deals. Let me know if you are interested.

Thanks, Robert.