All Forum Posts by: Ben Lukes

Does anyone have recommendations for good property managers in the Federal Way area?

Has anyone ever used Renter's Warehouse (renterswarehouse.com)?

Very true.  I took a look at the link you sent, and it is very encouraging.  The payment standards in my area are $980 for a 1-bed and $1,175 for a 2-bed, whereas the property is currently charging about $750 and $850 respectively.  Pretty darn good spread.

These are the maximums that HUD would pay in the area for section 8 housing? Makes me wonder if the units in this property are sub-par. I haven't seen the interiors yet.

@Dawn Brenengen @Account Closed Thanks to both of you for the excellent advice.  At this point I do have a buyer's agent, and he does some rentals of his own.  Overall though I think a profession property manager in this specific area would have better insight than he does.  I'll keep this in mind though if/when I look for another agent.

I think it is below market based on what I saw on Craigslist, but it would be great to have someone with deep market knowledge confirm my suspicions.  I'll definitely take a look at the link you provided, Sue.

I should clarify that there is a chance that would manage the property, but not for the period of time I am required to live in the building (1 year, I believe...).  Maybe I could pay a property manager to price the apartments?

Hello Everyone,

I'm getting ready to make an offer on my first (potential) deal in south King County, WA.  It is a fourplex that I think is currently rented out at a significant discount to market.

I'd really like to have a local property manager either take a look at the property with me when I tour or at least look at some photos to give me their opinion of what it could rent for. However, in order to afford the property I would live in one of the units to qualify for an FHA loan, so the chances of the property manager actually managing the property in the near-term is basically zero.

Would a property management company typically do this?  Would they want to charge a fee in my case, since they won't be getting the business?  Any insight is welcome and appreciated!

Also, if anyone can recommend property management companies in south King County, I am all ears.

Many thanks!

I'm also looking at purchasing a short sale.  If we make an offer on the house, and then, say three months down the line before hearing back from the bank, we find another deal, can we cancel our offer?

I've lived in apartments in Seattle that charged a flat utility fee, which wasn't included in the rent in the listing.  Of course this doesn't mean it is legal, but it is pretty common.

I can't speak for Oregon though.

@Giovanni Isaksen have you looked at Tacoma at all for SFR and 2-4-plex investing? I've assumed that would be the best price/value market in the immediate Seattle area, but I'll have to start looking in Everett. How far afield from Everett do you look?

You should negotiate the price down by the cost of the repair.  It is fairly standard practice.

 Sounds more like a townhouse than a duplex.

I joined the meetup group, but not 100% sure yet if I'll be able to make it to this one.  Thanks for putting this together, I look forward to meeting everyone (eventually)!