All Forum Posts by: Christine Kwasny

I have all of the documents; the case is quite black and white in that regard.  

In Oregon, the case must be presented to the PM first (which is the professional first step anyhow), followed by an appeal to the Realtor's Licensing Board, and ultimately court (small claims or other as appropriate).

I'd like to hear if anyone has faced a similar or same situation (as the owner or the PM), how they approached it, and if it was worth the effort.

I have recently changed PMs after 10 years with the same manager.  First 7+ years were great but then things went down hill.   Since the PM created a in-house repair and maintenance company in early 2024, all repairs have been completed and billed without gaining prior to authorization - as is per the contract - like a blank check on my part.   I am currently auditing the past 15 months of statements, but I suspect this will amount to well over $10,000 across the three properties they previously managed. 

Does anyone have experience making a similar claim against their PM, and is it worth pursuing? 

HI Christian.  Sounds interesting.  How long do you anticipate this meeting lasting? Thanks!

I am under contract to make a cash purchase on a 4-plex in the Portland, Oregon market for $800k.  

I can fund the project myself, but would prefer to get a short-term hard-money loan for approximately $350k for 90 days or less, since I plan to immediately finance the property at the purchase price upon taking possession.  I have a relationship with four conventional mortgage lenders that have assured me that they can close on this deal. 

I would ideally like a LOC backed my existing rental property(ies), some of which have substantial equity, but that seems to be impossible in today's credit market.

Some basics on this deal: 

contract purchase price: $808k.  Due diligence will be completed by the end of this week (Friday, July 7).  

value-add short-term improvements: ~$80k

long-term capex improvements (non urgent): ~$90k

post-rehab value: $1.1M at 14GRM

Please message me if you are interested.  Thanks!

I am looking for a LOC secured by one or both of my rental properties; a 4-plex and a SFH. Both have substantial equity that I'd like to access without using a cash-out re-fi. We have strong reserves, and good paycheck income. Seems like this would be easy, but it's proving impossible.

Trick is that 1) both properties have a primary mortgage, and 2) my husband and I are US citizens but live outside of the US.  I have contacted numerous local banks (local to my rentals), but one or the other of the above issues is a stopping point. 

I'd love to find a lender, so appreciate any leads!

In my experience, both above answers are correct. I do not currently hold my properties in an LLC since they are residential loans (less than 4 units), but I will be transferring them there soon (I will get to that in a minute). No bank I have spoken with will make a residential loan to an LLC. As mentioned, it is possible to transfer the title at a later date from your personal name to your LLC, but you do run the chance of the bank calling the loan (or sending you a nasty-gram to change it back). You wouldn't want to do this if you re-financing the property. However, both my attorney and my lender have never personally had a client's loan called for this reason, so you are weighing the risk of personal liability against the bank finding (and caring) that the title has transferred. For me, I will be transferring all of my property into individual LLCs since my personal real estate portfolio, and personal assets, have grown in value. This makes me feel better than some founded, or not, lawsuit will likely not result in financial collapse for my family.

As for commercial loans (more than 4 units), many lenders will lend to an LLC, some without personal guarantees (although with less favorable terms). I know Chase bank will do this. You can contact Patti Condon in Portland - she is great. I have a long list of local Portland banks and brokers that can provide more flexible terms as well. You may need to seek out what financing solution you are looking for.

It sounds like you are trying to control your personal liability.  This is sort of complex and you are best speaking to an attorney, and a CPA, since LLCs will affect not only your personal liability but the way your taxes are filed. Also, everyone's personal situation (and comfort level), are unique.   I just completed a bunch of liability and estate planning with Neda Soofi in Portland.  I thought she was excellent.  My CPA is Tonya Bennet at Brown Armstrong.  I like her a lot also.  In my opinion, spending a few hundred dollars in initial planning to understand how all this works, is money well spent. 

Good luck!

I am looking to sell two single family homes I own in Beaverton.  One in the Murray, Garden Home area; the other in the Cedar Mill/Nike area.  Both are in nice neighborhoods with excellent long-term families that want to stay.  Rents are at market.  Properties are in good condition and are low-maintenance.  Easy rental.

Looking for 4-20 unit buildings in the Portland area.  Upside potential preferred.

Looking for plexes.  4-20 units.  Portland metro area.  Prefer upside potential with improvements, but not necessary.

I have a handful of properties in the Portland metro area, and am actively looking to exchange into or purchase close-in multi-family properties.  Preferably with upside potential through renovation.

You can learn more about me at christinekwasny.com