But now, they actually held them to a higher standard than regular homes. Now, you guys have continued to grow your portfolio since then. I guess, walk us through your journey since that first investment. Trey:Well, first before the duplex, we bought a house in Snohomish, another area in Washington, just a single family home. We had some money from the deal that we did before, but we still wanted to be a little conservative. We looked in the Seattle area, but the risk was really high, low reward, it seemed like. I still was trying to figure out what a syndication was. I knew that I could find people that would do a good job, charge a fair rate, and I could trust. So we went and found one in a little town right next to the Lake. Ashley:So when you purchased this property, did you go and look at it? How many times did you actually travel to see the property once you bought it?
The first rapid payday loans time I went, I actually met up with a couple of realtors, one in the Jamestown area, loan application and then another one actually up in the Buffalo area and looked around a little bit up there. I got a long story about that, but save advance loans that for another podcast, but some shady stuff going on. And then when we went to actually buy it, I went back before we closed and checked it out.
Trey:Once we bought it, we actually closed December 28th, it took a payday advance bad credit little while. So I went back for three weeks and worked like 16-hour days trying to flip this house. But I got it to a point where I handed it over to my contractor buddy and he finished it off for me. And instant decision loans then I had another guy do the siding and fix some of the roofing. I will definitely say that they just did one of payday loans corpus christi my properties too. The guy that I would call him, because he carries the cell phone, call him, schedule it and then they get their ride, and the guy sits in the van waits for them to be done.
We had most of our furniture in our house built by the Amish, and they would send us a postcard when it was ready to be picked up. Trey:So we did get a mortgage originally, and then I used all my own money to flip it. Tony:You were scared early on, Trey, about being a landlord. You have the right team loan application to help you rehab the property.
And then COVID hit and we got scared, because we were like, "Ooh, this is a lot of cash. And then a deal popped up on MLS last summer, and it was a single family home in the area that we look in. And it was on 10 lots, and so that made us really attracted to it. Ashley:And what are your plans for this property then?
I think we could sell the single family home pretty easy because there was multiple offers, but we had a cash offer so they picked us.
So you guys plan to keep expanding in that same general area?
You one day loans guys also have a really cool dynamic, because it sounds like you guys are each holding different responsibilities within your real estate business. Can you guys walk us through who does what and how that dynamic works? We attended two meet ups in Seattle right before COVID hit, and then they ended that in February when stuff was starting to shut down, and then we just missed talking about real estate. I think you mentioned, Ashley, going and having adrenaline or like a high after talking real estate, and we were just missing that. Ashley:Keeping each other accountable and motivated to keep going. And so that was hard for us to decide what market we want to live in and raise our family.
So our goals for 2021 are building our home in Alaska and then adding an ADU to Airbnb. Ashley:What goes into the planning process of building in a different state, especially Alaska.
What are some resources for maybe someone else that wants to do this or go into a completely new market, they want to build new construction and they want to have a short-term rental there? But we just put in the work and tried to do it and we got pre-approved.
We contacted the builder, sent him our plans for the home we want to build. Talking to people there too and the real estate agents there and stuff. Tony:Now, you guys have, I think, a unique journey in real estate. One thing I want to say is that how you said before you went into that just said, people have already probably said this a lot, but I want to say it again. And sometimes it also takes the right person for you to hear that from.
This is where we learn about someone who is a valuable player on your real estate team and has really helped you grow your real estate business.
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Trey:I think just to add to that, I think the why, like you guys talk about, is really important. I like especially the why are we doing it together too. Well, thank you guys so much for joining us on the show today. We loved to hear your story and the advice that you guys gave. Annie and Trey, are you guys in the Facebook group? RentRedi is all about helping new landlords manage their business and be happy customers.
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Feeling stretched for time in your investing career? Today we talk with Adam Whitney, an active duty military member, working full-time, with children, a wife, and an active investment portfolio! With so much going on at once, Adam makes it look easy, juggling his hectic military life while accomplishing his long term goals. RentRedi is all about helping new landlords manage their business and be happy customers. Go mobile and manage your properties from anywhere at RentRedi. In personal loans with bad credit and no credit check fact, crunching numbers is one of the things Policygenius does best. Their insurance marketplace makes it easy to compare rates from the top home and auto insurance companies to find you the best price. He thought that professional tennis is what his life would end up revolving around. After playing for 2 years and being burnt out from work, Andres decided to take some advice from his family members: start buying real estate. After buying his primary residence, he started looking into multi-family homes that could make him some cash flow each month. He sold his condo, had some cash, and was ready to start investing more. Andres had some pretty creative ways of getting funding for his real estate deals. He started calling every contact in his phone, asking if they were interested in real estate, and if they were, he packaged up a deal for them. He does the work and the analysis, payday loans no credit check they do the financing. These types of partnerships have worked well for Andres and they can work loan application for other rookies as well. His advice is to test the partnership, build the trust, and use the BiggerPockets Rental Property Calculator! And I am here with my co-host, Tony Robinson, who is about to jet off on his honeymoon. So a lot of really good nuggets that listeners are going to get from his episode today. Andres touches on a lot of stuff that me and Tony hop on too.
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