All Forum Posts by: Curt McClements

I have rentals in the South Hill Puyallup and just rented out a 3bdrm 2 bath 2 car garage 1600sqft duplex unit for $1780 / mo. I researched current rent prices and also got a rent estimate from rentrange.com. The unit rented quickly and there was a LOT of interest in it. So I think the low end of your rent estimate is quite a bit too low. Also, there's an IRS rule that if you live in the house 2 years out of the last 5 years of owning it, you can sell it without paying capital gains tax; but there is a depreciation recapture that you'd have to pay if you sold it at that point. So you could possibly rent it out for 3 years and then sell and avoid a lot of taxes. Something to consider. I was in the same situation with my primary residence in the same area as yours, but ultimately decided to sell and invest the profits elsewhere.

What is the best way to remove a person from a lease? I have a married couple who are splitting up and she wants off the lease. They are currently month-to-month. I'm in Washington state.

I own 2 duplexes on South Hill and in my opinion, it's a great high-demand area. My units are family oriented 3 bedroom / 2 car garage, and the Puyallup School District draws good tenants. I've had no problems finding well-qualified tenants.

Welcome Carlina. I've been investing in / managing duplexes in Puyallup for about 3 years. I'll be searching for my next purchase soon. Bigger Pockets is an awesome resource that I am constantly referring to!

Hi Elijah,

Welcome to the forum and the exciting world of investment properties!

I have purchased 2 duplexes in South Hill over the last 2 1/2 years. I have always had a LOT of interest when advertising them for rent. They are both 3bdrm, 2+ bath, over 1600 sqft, 2 car garage units renting from the high $1400s to low $1600s.

I have never had military personnel apply until now. I currently have one up for rent starting December. I just received an email from an officer who is currently in Virginia and interested.

That being said, the few times that I have had vacancies, I have found renters immediately and have had zero vacancies.

When shopping for duplexes, I used this calculator: 

https://www.goodmortgage.com/calculators/investmen...

It is very accurate and is especially good to compare properties when shopping. I'll be in the market for another duplex within the next few months also.

Good luck!

The worst thing about the R10 is that we're at the mercy of the tenants' perseverance (or lack thereof) in sticking with the process and making sure it goes through.  The R10 and associated NACHA rules seem to leave no gray area. If the tenant disputes, they're due their money. But it seems to be quite a process sometimes. I offered each of my 2 tenants involved $200 if they could get the money back. Both have been successful. Once didn't accept the $200. The banks were Chase and Boeing Employees Credit Union.

I suspended eRentPayment as soon as they posted that they couldn't say when, if ever, I'd get my rent. It would be foolish to continue with them. Latest news is that the trustee of the bankruptcy of ECheckIt has petitioned the court to stop R10 claims. Time is of the essence!

@Peter Tverdov I wouldn't consider "if or when... the pending transactions will be sent to the recipients" (from ERentpayment's Facebook Statement) quick. I don't think that ERentpayment did anything malicious. But they got in a situation over their head and didn't take the time to (or spend the money to have someone else) communicate openly and honestly as hundreds of customers were left holding the bag. I hope to get some or all of my money back. But I would be a fool to continue to do business with them. I will be very surprised if ERentpayment survives this.

@Matthew Olszak, I was thinking the same thing, originally. Now I'm scrambling to come up with my own money to cover rental mortgages for November. I'm "out" $2950.

I contacted them via email yesterday and got a response that they're having trouble with accounts being "locked" because of some issue with a reserve account with their bank. It seems like they're scrambling trying to resolve it and are changing banks. If you email their customer service, you'll probably receive the same form letter response that I got. There was an update email today stating that they expect funds to be released after the new account is set up by Thursday. 

I tried copying and pasting the emails, but they pasted in backwards here. I couldn't get it to paste correctly.