All Forum Posts by: Ana Marie B.

Nicely done!  Thanks for posting the pics @Ori Skloot!

Pictures?

@Lynn McGeein - Thanks for your excellent advice!  We really appreciate it.  We're not opposed to purchasing new property and we like your idea of making a cash offer on a 3rd property (where we can hopefully negotiate a discount), then using the cash flow from that 3rd rental to pay down the other rentals.  This makes further sense because I'm hearing from others that interest rates are climbing so may exceed 5% in the future.

Also want to thank everyone else who responded to this thread with terrific advice/ideas.  However, we need to do our homework on these other options mentioned before leaping head-first (i.e. REITs, annuities, private lending).  

Thanks for the idea @Shaun Weekes.  You and @Jeff B. make a good point about the primary residence in terms of security.  I guess we need to mull over this topic a while longer :)

Thanks @John Woodington and everyone for your responses.  Yes, getting rid of one of the 5% mortgages makes most sense.  @Deanna McCormick - I am leaning toward Rental 2 (SFH). Thanks again.

@Account Closed - Good point.  I'd need to look into what other investments can offer a higher rate of return than 5% aside from stocks I suppose.  If anyone has any suggestions, please feel free to chime in!  

Hi BP Fam - The hubby and I have enough money saved to pay off either 1 of our rentals or our primary residence.  Wondering how others might approach this, what makes the most sense, and why.  Below are some data:

1.) Rental 1 (Condo) - $200k left on mortgage w/ a 5% interest rate. Cash flow take home would be $1100/ per mo. (includes PM fees & HOA).

2.) Rental 1 (SFH) - $260k left on mortgage w/ a 5% interest rate. Cash flow take home would be $1,830/ per mo. (includes PM fees).

3.) Primary residence (SFH) - $330k left on mortgage w/ a 3.2% interest rate. Mortgage payments are on a 15% yr. fixed escrow acct. We pay about $3200/mo.

NOTE:  About us, we're pretty conservative in our decision-making and dislike debt.  We're thinking of paying off one of these properties before buying our next rental.  

Thanks in advance for any tips/advice!

Thanks @Kim Meredith Hampton.  I'll check out that website.  Also, thanks Lane for that comparison...6% definitely sounds better than 8.5%.

Hi All - Tax season is in full swing and I'm looking for a seasoned tax professional/ CPA who can handle my taxes, preferably someone in the San Francisco/ Peninsula area.  We have a couple of rentals, a primary residence, and stock options from my husband's job.  

Any recommendations would be greatly appreciated!  Thanks BP Fam!

Hi BP Fam - We're looking into possibly changing our property manager. He currently charges us 8.5% of monthly rent. We only have 2 rentals in the Seattle area (1 condo and 1 SFR). We're interested in someone with competitive rates and stellar service (to both LL and tenants).

Our current property manager was also our realtor who helped us to score our 2 rentals.  He hustles and is a super nice guy, which is great, but recently his communication has become more and more delayed.  For instance, one of our tenants are up for lease renewal and we want to increase rent; shot the PM an email and didn't hear back for 3 weeks.  I had to text him at which point I got a 2 word response.  We're guessing he's becoming too busy since the Seattle market is red hot.  

Anyway, whatever referrals folks can send me way would be much appreciated!  

@Mike McCarthy - Great advice re. new dishwasher.  The dishwasher in one of our properties recently broke down.  That dishwasher was included in the home when we purchased it about a year ago.  We're currently shopping for a new one and found some decently priced and rated dishwashers at Sears for roughly $299.  I think we'll heed your advice and add an addendum to the lease re. this.  I'd be pretty upset if the new one breaks down soon, as I wouldn't constitute that normal wear and tear.