All Forum Posts by: Amanda Dallman

Hi Marlon,

There has been a lot of great comments here and I think a possible crash is on everyone’s minds. Without knowing your situation, I would say the best way for you to get started would be to look for a duplex-fourplex and live in one unit. Don’t over Leverage, Find something that cash flows, and screen  your applicants!  The market will always go up and down but a cash flowing property will fare the storm. You will also learn so much from having  tenants. Single family housing will suffer the most if there is a crash. If foreclosure happen it will push more people to the renter market pushing rents up. Supply and demand. Best wish in your journey!

Hi BP, 

The company I work for was just bought out and I have a chance to roll my 401K into a self directed IRA. Im looking for a host that offers IRAs that can hold real estate, rental properties and syndication. Is there a company, bank or Financial counselor you could recommend in Washington state?

Thanks!

Thank you Everyone for the support here! @Jay Hinrichs, you are right a notary is not appropriate here, and thinking back I can see how it might put me in a worse situation. I wasn't thinking straight and a little freaked out about the 10 year old "emotional support" dog that the tenant was going to train to use a pee pee pad. At the end of the day I asked the tenant to provide a letter from a health care provider, king county registration, and documentation form the vet show the animal was current on shots. I never heard back for them. At the same time this really motivated me to do a marketing blitz on the property. BINGO! I got a ton of response, and have signed a lease with a very qualified family. I truly appreciate  everyone time and feedback! 

Cheers and here to the next project! 

I have a condo for rent in an association that has a no pet policy in the bylaws, unfortunately it doesn't seem to be enough against the Fair Housing Act. I had someone look at our 3rd floor condo,  when I told them no pets, they replied I have a 10 year old dog that can't get around. "I'm getting him registered Tuesday as an emotional support animal." I asked how he would do with all the stairs, the answer "I'm look at getting indoor potty grass" UGH! story shot - I'm looking for legal hoops to discourage this. Here are some of my ideas, what do you do?

* Notarized letter from doctor prescribing an emotional support animal 

* Vet records with current vacations

*County certified dog registration - (required by law in our county)

Thank you for the replies. we're moving forward with our first rental!

Hey there,

What’s everyone getting for rental property mortgage rates? I have excellent credit and was offerd 5.5% for 20 year and 5.75% for 30 year. Washington state. Does this seem high?

Thanks you both! I just spoke with a broker and she said that it is a common foundation in the area and shouldn't be a problem. @David Clinton lll , I love the proactive idea of having lenders to hand over.

Hello,

I'm looking at my first REO deal in eastern WA and it has post and pier. I looking to brrrr this house but I'm wondering how hard it will be to sell when I decided to exit. I have heard it's hard to get lending on these house in WA. I'm talking with a broker today. What's the your experience with this?....

Hi BP Friends,

I'm starting a real estate journey in the Midland / Odessa Texas area. I will be out there at the end of this month and I'm hoping to make some connections. I'm looking for an investor friendly real estate agent and a separate property  manager. If anyone has suggestions I would love some recommendations. I hope to meet some of you at the end of February!