All Forum Posts by: Alex Chin

Hi @Ryan Blomster. I, and a couple of other investors that I know, have worked with MainLine Plumbing & Drain for projects and inspections similar to what you're looking to do I believe.

2-oh-six, 294 9691, I've worked with both Rick and Jim. My experience with them has been that they are professional and responsive, prices aren't the lowest, but not ridiculously high either.

Touch base with @Troy Fisher, @Tiffany Plovie, and @Kevin C.. They run meet-ups in the Kirkland, Seattle, and Tacoma areas. Generally have anywhere from 15-50 investors show up, free to attend and good gatherings for any level of experience.

Hi @Joy Abia. I would recommend MainLine Plumbing, message me if you'd like contact info. They have always been very professional and efficient for everything that I've used them for.

Caveat: I have only asked them to handle typical plumbing issues and inspections, I have not asked them to do any development or extensive projects, not sure what you meant by that.

@Peter Grote - I have used Rick and his partner at Mainline Plumbing & Drain for several projects. Very professional and a good communicator. You can find them with a quick google search, also 2062949691 should get you in contact.

Good luck.

I'll try to make it out! I have been a little MIA lately from all the meet-ups, will look to get back into the swing of things.

@Eduardo Bravo - I think you are underestimating your Maintenance/CapX/Vacancy expenses-reserves.

If you are this close to buying, I would really drill down. What is a new roof going to cost you? Estimate that, then divide by about 20yrs. and that's how much you should be socking away just for that. Repeat with calculations for siding, flooring, carpet, tile, paint, windows, appliances. I believe that you'll quickly find that just CapX reserves alone are running you into the $4k-$6k range annually. 

I would also assume bump up the vacancy reserve. Remember that if just one of the units sits vacant for 1 month out of the year, that's 2.01%. I would assume you'll be turning a unit at least once per year until you've had it for a couple of years and can stabilize things.

For maintenance, I usually budget 5% of gross rents if it has been recently renovated, 10% if I think there is deferred maintenance that'll need to be cleaned up quickly.

@Ted Klein - are you talking about the County Assessor maps? Pierce/King have great, interactive maps to find out zoning information on a property, Snohomish, less-so.

King - http://gismaps.kingcounty.gov/parcelviewer2/

Pierce - http://matterhorn3.co.pierce.wa.us/publicgis/

@Peter Grote - I agree with Deanna, always list it ASAP, you want to get cash positive as quickly as possible.

If you really are worried about finding a long-term renter at the end of the year, you can always turn it into an AirBnB rental for the Holiday season and look to transition to being a long-term rental once we hit January/February.

@Ryland Taniguchi has done a ton of these in the Seattle area, might also want to look up Tatiana and Dima, they do this kind of thing as well; both are pretty regular attendees at the local BP Meet-Ups.

@Elex Lee - the Kirkland meet-up is intended to serve most of the Eastside as folks can typically get from Bellevue to Kirkland pretty easily.