All Forum Posts by: David Galan

Hello Jessica.  I know this area well.  Depending on the time you can dedicate to this studio you can probably earn more than rent offering it on airbnb.

If you don't have the time for and airbnb option, post your craigslist ad and direct them to an online website form.  My standard questions (especially on the phone) I ALWAYS ask in some form or another that brings most everything out are (before setting up a time to show the place):

1) what's your situation in looking for a new place to rent?   (are you getting kicked out, downsizing, etc...)

2) Would it be you and anyone else moving in?

3) It is $/mo and the deposit is $, is that affordable for you?

4) When were you looking to move in?

Also make sure you're familiar with everything the Oregon Rental Housing Association has to offer, especially their forms.  If you're new, you need them and follow what they advise.

Sorry, I should have specified that I am looking for a dollar amount.

Can anyone share their EXPERIENCE on getting around $175,000 in a similar situation.  Are there special things or nuances the lender will scrutinize?

Does anyone have EXPERIENCE with the maximum amount of money they can pull out of a free and clear owner-occ SFR on a cash-out refinance? The house is in Bremerton WA worth about $250,000. Assume good debt-to-income and 740 credit score with a foreclosure in 2012.

If BiggerPockets allows, can you refer me to your lender.

If you really want to play it safe, you should invest some $$$ for a competent attorney to check out the HOA docs, city assessments, liens, etc... That's if you want to play it real safe.
Then if you get it, also factor in about $5k-$15k in attorney's fees if things go bad with with HOA. They have a propensity to make things ugly.