All Forum Posts by: Christopher Hu

Thanks everyone! This is very helpful and I appreciate it.

Hi everyone! I'm getting ready to list my first large property with 3 separate units (Main Unit, ADU, DADU) on a SFH. As Landlords I'm curious to get your take on the below:

-Which utilities (Electric, Water/Sewer, Trash, Internet) do you usually have your tenant pay in addition to base rent? And if so, how do you divide this out - I have a separate meter for the DADU but I don't think I can divide it for the Main Unit & ADU. Or do you just add more to the rent to cover for this?

-As the Landlord do you set up Cable TV & internet for your tenants? Or do you allow them to set up and pick their choice?

-Do you require tenants to have renters insurance?

I would be interested in a meetup as well! I'm in the Seattle area and own a SFH here, but am looking to build out my portfolio. I'm interested in learning about more opportunities here in the PNW, but also OOS. Looking forward to chatting and meeting you all!

Thanks for the great feedback everyone, I appreciate it! Based on the responses, I'll take a look to see if I am able to act as my own agent and property manager. With it being a 1 BDRM condo, I believe I would be able to handle the responsibilities. However, as I continue to grow my portfolio, it will be a good opportunity to bring on a professional property management company.

Best,

Chris

Hi BPers!

I purchased my first 1BDRM unit in Seattle, performed the renovations, and am ready to rent it out soon. However, rather that hiring an agent, I wanted to see if managing the rental process yourself is easy enough? I feel that I would be able to find a potential and trustworthy renter on my own and I heard that the Seattle law to rent to the first qualified applicant was recently struck down, which is huge. This is my first rental property so I would love any tips or advice. For example, where would I find all of the legal documents and rental agreements to provide my prospective tenants. 

Thanks!
Chris

Hey everyone,

I'm looking into my first flip in the area. I have also looked into buying and holding, but based on how hot the market is, I thought it would be a better bet to find a property in an up-and-coming area such as Tacoma.

However, I need help in finding an agent or realtor who has the necessary experience to help me out. Do you have any recommendations of people in the area and especially Tacoma?

Thanks!
Chris

Thanks Andrew, that's super helpful!

Hi Aaron,

Thanks for the detailed information and feedback. All of your points make sense and is a great reason to work with a local mortgage lender. I will be sure to reach out to a few to interview and speak with them.

Hey everyone,

I had a quick question. Is it true that finding a local mortgage broker/lender is better than using a traditional bank like Bank of America? I've talked to real estate agents who mentioned that local brokers were better at closing deals fast. However, I'm not sure if that's true since this is my first home purchase. Thanks for the advice in advance! 

-Chris

Hey everyone!

I'm writing to see if anyone had referrals or recommendations for stellar broker/agents that specialize in investment properties? Since I am still relatively new to the region, I am looking for more information on potential areas that make sense for my budget and strategy (buy & hold). I am hoping that this person can make a big difference in which property I select as my first investment property. 

Thanks,

Chris