All Forum Posts by: Ana Vhan

Hi, I am hoping someone help me out quickly here. I am looking for an attorney in Washington state who can help with some issues we have with the tenants right now.

The 12 month lease is expiring by August end and despite numerous contacts with the tenants - they aren't communicating in a timely manner for us to move forward with a new lease or a termination. I don't want the lease to automatically go into a month to month lease as the landlord rights are limited in that case. 

Can someone talk to us and help us draw a lease asap. 

Thanks,

Ana
 

Thank you so much everyone for your insightful responses. 

Dave, and others who mentioned DST, what's the best way to research different DSTs? Is there an online resource for this?

also, just to confirm, with DSTs, with my example, I don’t need to invest the entire $1M net sale value but I can only invest what I get in my hands (net sale - leftover mortgage - selling cost). Correct? 

Thanks again!! 
Ana 

Based on what I read, I believe that if I am selling an investment property for $1M, I need to by another investment property(1 or more ) totaling value $1M. 

Talking to a CPA, she says that you only need to buy next property worth your profits from the sale(say for ex. $400K). Is this true? 

I would like above to be true since I don’t have more cash to buy another property worth $1M. Or are there other alternatives where I can still defer or save on taxes. 

Appreciate your responses as always. 

Thanks,

Ana 

Thank you Nathan and Jason for your responses. Jason, where would I be able to find a agent who covers all states? Most of the agents I have spoken to they cover mostly single state. 

Thanks in advance

I have 3 homes in 3 different states(CA, AZ,WA) and I need to buy umbrella insurance. Based on previous responses to my question, looks like I need to contact independent companies like USLI or personalumbrella for this policy. 

Question is - should I contact them directly or work with an agent? Any benefits of one vs the other? and if I should work with an agent, the agent should be based in which state? 

Thank you! 

Thank you both of you for your responses. Appreciate it. 

Thought I would ask all you experienced investors and experts on ideas on how you manage RE investments remotely? There is a lot that requires to maintain a RE investment - maintaining the building, handling issues like water leaks, tenant screening and management, yard maintenance .. the list goes on. I would love to hear from you on how you guys handle this and what would you recommend to someone who is still a newbie in this world of investment. 

Thanks again. Very happy to be part of this network . 

Thank you so much for all of you for your insightful help. Appreciate it. 

Wow! thank you so much for so many insightful solutions and tips. I very much appreciate each and every response. Thanks again. 

Tenant in my Washington state rental moved out and we find out an active leak underneath the kitchen sink. It looks like its been leaking for some time now as it has damaged the cabinet underneath. The tenant mentioned that he did notice some pipes coming down from garbage disposal. He should have notified us the first time he noticed this but he did not. 

Also, the water heater tank is leaking in the garage which we noticed at the time of final walkthrough. Again he failed to report it when it first happened. 

How would I handle such situation? How much can I charge him for this negligence? Of course, I need to charge him for the damages but we had a similar leak last year that caused us tearing down entire kitchen and installing a new one. I am terrified thinking of the potential damage/mold in the wall behind the sink cabinet. 

Thank you. Appreciate your inputs.