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All Forum Posts by: Kirill Chervets

Kirill Chervets has started 5 posts and replied 54 times.

Post: UMM. Why is this possible?

Kirill ChervetsPosted
  • Investor
  • Bothell, WA
  • Posts 61
  • Votes 27

Please tell us more? I am more curious about the numbers on the 60b and how it was used.

@J Scott

Where is the best place to find a checklist for maintenance and upkeep. I manage my own 4 doors with nearly no vacancy at the top price point but always struggle with knowing when to do maintenance like sealing windows, cleaning roof, ect ect ect

Post: Trying to Time the Market

Kirill ChervetsPosted
  • Investor
  • Bothell, WA
  • Posts 61
  • Votes 27

@Greg Harriman 

@Patrick Britton

I am also in a dilema regarding my Bothell home. The home is in Holly Hills (manufactured home) on land I own. I bought it in 2013 for 150k and have rented it for $1690 since. It is rented to a professional, it is within a coupe miles to UW Bothell, Woodinville High is a mile away and 405 is a mile away! Pretty much perfect location. I believe it would sell for 240-250k. I can't pull money out of it as it is not owner occupied and being a manufactured home (built after 1976) banks don't do second mortgages on them. I think I should sell as a manufactured home historically cannot keep going up in value?? I am not sure what I would do with proceeds quite yet but have thought about buying a multi in pierce county. Help!

Post: Success in the Pacific Northwest and questions

Kirill ChervetsPosted
  • Investor
  • Bothell, WA
  • Posts 61
  • Votes 27

@Charlie Fitzgerald see that's where the problems lies. I have 30 yr 4.0% mortgages on all of them. That's hard to let go of... Something I'm missing? 

Post: Success in the Pacific Northwest and questions

Kirill ChervetsPosted
  • Investor
  • Bothell, WA
  • Posts 61
  • Votes 27

@Charlie Fitzgerald so your company would potentionally put a 2nd mortgage on one of my rentals? Does dti factor in, I'm curious to learn more.

Post: Success in the Pacific Northwest and questions

Kirill ChervetsPosted
  • Investor
  • Bothell, WA
  • Posts 61
  • Votes 27

@Roy N. iIdon't know if I can find better use for the money... My area is expensive, the townhouse was a Hud deal I found the day before Christmas and believe I walked it the day after Christmas. The home in Bothell I bought from an owner whose son wasn't taking care of the property and needed to sell.. Urgency. And this duplex I bought was sold because the owner was renting to family and we all know how that goes. Basically it's been perfect timing to find these deals and I'm scared to liquidate and invest "good money" into "bad money."

@Charlie Fitzgerald This was kind of my thinking, thank you for your insight.

@Steve Vaughan I like to manage my own properties and think I do a better job then someone who doesn't have any incentive other than pay to manage. If I was too look into eastern WA do you have any recommendations for multifamily?

@Kim Martin I hear you loud and clear, staying the course and acquiring a property every other year or two sounds good but is slower than I would like to go. What areas would recommend for multifamily on the other side of the mountains?

@Roger Vi I will message you when I get a chance to discuss further. Thank you 

Post: Success in the Pacific Northwest and questions

Kirill ChervetsPosted
  • Investor
  • Bothell, WA
  • Posts 61
  • Votes 27

First of all I want to thank Biggerpockets for an awesome site and tons and tons of information that has helped me succeed. Wouldn't have been able to do this without you guys.

Here is a little back story, I purchased my first townhouse in 2011 in the city of Mill Creek, Wa for 110k and have been renting it since producing great cash flow. It now is worth 275k all day.

In 2013 I bought a home in Bothell, Wa for 150k and now worth 240k also rented and producing great cash flow.

My latest purchase is a duplex in Everett, Wa purchased for 243k with 10k into it for maintenance and repairs. Rented for 1240 and living in the other side for free.

I feel like Snohomish County is now overpriced and at 2006 levels. My question is whether I should sell all three properties, net around 300k and reinvest it as the properties values are no longer in line with the rents or just continue to allow tenants to pay off properties and keep saving more money. I don't make very much at my day job and it takes a while to save money for down payments. My goal is to build enough passive income to not have to work until 60. I am 27 years old now with a bachelors degree and no debt outside of real estate. Can someone local please help or offer suggestions? Feel free to ask other questions that would help clear up the situation. Thank you!

Post: Coming To Seattle

Kirill ChervetsPosted
  • Investor
  • Bothell, WA
  • Posts 61
  • Votes 27

Wish I would have seen this earlier! How was your trip to Seattle?

Post: I Just Got Pre-Approved For My First Mortgage

Kirill ChervetsPosted
  • Investor
  • Bothell, WA
  • Posts 61
  • Votes 27

Congrats! The first brick of your empire

I just did a HEL or Home Equity Loan on an investment property (I don't occupy it). I got a 75% LTV with under 400 in fees. 20 yr fixed rate. Try giving Key Bank a call.