All Forum Posts by: Bryan Doan

Hi,

I'm interested in a listing in Lynnwood -- the house has been on the market for 50 days and thru two inspection failures (went pending inspections & then reslisted shortly after that each  time).  It's originally listed for 500K and then lowered it down to 475K.  I'm thinking of making an offer at 450K but not sure if that would work or if I would offend the listing agent :). Does anybody have any experience with this or if you have any advice on how I should go about it.

BTW, the house definitely needs some work but in a good location.

Any advice would be greatly appreciated!

Thanks!

-Bryan

In the Seattle areas, I don't know if any SFH landlords can get any more than .5%. A 500K SFH can only be rented for around 2.5K a month. Probably, SFH landlords here in Seattle areas are more for over the years appreciations?

Just a newbie question please! If you do a HELOC on your rental (assuming you paid cash for it initially), how do you claim the interests paid for this rental property when you do tax returns?

Thanks!

-Bryan

Hi,

I'm owning an investment home in Bothell, WA and in the process of signing first lease to a tenant for May. I also have another one that is currently listed for sale also in Bothell (bought "as is" and get it fixed up); however, I'm planning to take that house off market and then put it up for rent as well. My question is if there are any advantages/disadvantages of putting them into an LLC instead of our names (me and my wife).

Also, I'm interested in another fixer upper house close by as well. Since I have a mortgage on one of the houses mentioned above as well as a HELOC on my primary residence (I used this to pay cash for the fixer upper that is currently listed for sale), what would be the good way(s) to get another mortgage for the third investment homes? I was thinking of using the signed lease of one of the houses to get a mortgage for the new purchase but not sure if that will work. Any advice would be really appreciated!

BTW, I have a good credit score (used to be above 800 but now like 750 due to the HELOC & the mortgage for one of the houses). I'm working fulltime and earning in the range of 160K.

Thanks!

-Bryan

Hi everyone,

I've been researching a procedure to divide a lot (a parcel) into two.  There is currently a ~2000 sqf house on the lot of .34 acres. (~14800 sqf).  The zoning code is R-9600/UGA and future land use is ULDR.  I went to the snohomish county planning & development office to ask for the possibility of division of the lot and the person who helped me said it would be possible because the lot is compliant (does meet the future land use) and there are houses across the street have been rezoned to R-7200.

Does anyone have any experience doing this previously?  If so, would you please give me some advice or guidance on how to go about this?  My plan is to turn the extra big back yard into another lot with approximately 6K-7K sqf and then build another house or duplex on it.

Thank you very much for your help.