All Forum Posts by: Curt McClements

What kind of down payment are you folks having to come up with on non-owner-occupied rentals? I'm getting ready to start looking for my third duplex and my mortgage broker says 25% down is required (again).

I agree with those who say to get going with a decent deal and start making money. Rents are going up. I imagine the Seattle wave will hit before too long. And I've heard about a new walk-on only ferry... I've never found the perfect deal, but looking back, they were all perfect (appreciation / equity growth etc).

@Erin Caldwell I've used craigslist exclusively. I thought about using other sources, but as soon as I post on craigslist, my hands are full with responses.

Rentometer is awesome, but I really like Rent Range (rentrange.com) because it gives you a very detailed analysis and suggest an actual dollar amount. It does cost $12.50 per request though.

I have a 3/2 duplex with 2 car garage in South Hill Puyallup that has gone from $1350 almost 2 years ago to $1560 with the newest tenants last month ($1495 for one of the units last summer). I use Rentometer and Rent Range to help me determine rents, as well as current listings. I've had a ton of interest each time and find good tenants almost immediately.

Welcome Mike! I also live in Puyallup and have been investing in multi-family (duplex) rentals. I'm almost 2 years into it and have 2 duplexes so far. I plan on buying another within the next year or so and using the income from the 3 to supplement my retirement. I'm 54, but don't plan on retiring until 70. I love being a landlord! I agree with everything that Brandon says concerning rentals. I guess if it's something that's "your thing", then you love it! Good luck in your ventures. There's a ton of good information here!

Thanks @Jill F.. I have 4 units, so that probably wouldn't work!

Does anyone have experience using a deposit bond service like SureDeposit? What are the pros/cons of something like this? Thanks!

I have 2 duplexes in Puyallup. The most recent one purchased last summer. I think it's a great area for this type of investment. Both have great cash flow and are in high demand as rentals. I have chosen this area because I've lived here for over 30 years and it's very familiar to me.

@Mary Bass How are felons a protected class? Interesting. But I doubt that I will ever rent to one.

What is 3/1, 3/1/1, etc?