All Forum Posts by: Elizabeth Colegrove

My husband is being transferred to whidbey island. I thought that would be a great property to get started with. When we buy personal properties I love putting as little down as possible as it allows me to stretch my funds further.

So this 9th property is really kicking my tush thanks to a white hot Whidbey Island market. I found an awesome mixed use property, bakery on the bottom, residential on top but it is zone town commercial. Everyone I am talking to is saying that the only way to buy this place is with a commercial loan. Am I missing anything? Does anyone know any ways around it?

 Yes! We will have to meet up. We are there in April. Can't find you number in my phone txt me :) 

Thank you for the welcome! Yup the market is crazy!! I will totally have to check out the different meetings.

It's official, the military is transferring my husband to NAS Whidbey Island. I will be totally forth coming and saying this area is KICKING my TUSH !!! You would never know this is my 9th house in 4.5 years lol. There is always that sale that makes you feel like a newbie, this is mine. 

TWO house hunting trips later and I still don't have an answer. I would love your help! If you know of a FANTASTIC lender that thinks out of the box, loves duplex, two houses on one parcel, etc. I would love their information.

 If you are an investor, realtor, landlord, local, resident, etc and want to talk and connect I would love to receive a pm. We are brand new to the area, so I would love to connect. Any meet up or others groups would love to start coming too.

Can't wait to connect!

LOVE this response!! Very Very True

I don't have this time and energy or situation that would allow this which is why I buy the way I do. As always it is important to look at your personal ability and see which strategy works best for you.

My absolute favorite is my break lease clause hands down!! I am tired of tenants deciding to move before the year up and not having consequences. So now, no hard feels but they pay for my time. Still I don't really have a favorite as all of my 38 addendums save my tush on a daily basis. Here is an article I wrote in depth on everything I put in my lease.

https://www.biggerpockets.com/renewsblog/2015/10/17/38-addendums-battle-ready-lease/

I am a do not put up with **** landlord. I have a 10% late fee which she would get hit with every time. I have a $100 don't let the contractor in fee. I personally wouldn't go to eviction, I would send a professional stern "get your ****" together letter. At this point you as the landlord, have provided an environment saying this behavior is okay. I personally don't tolerate so the first time this happens, I end it.

I learned the hard way, that I was respected and treated more courtesy when I didn't put up with crap. It was like the more I allowed and tried to be nice, the more I was taken advantage of. Where as the less crap I allowed and tolerated, the more I treated this like a business, the more I was respected, and the less issues I had.

Plus we were all young and stupid at one time :) Some of just might have had more "learning" moments than others.

Honestly I don't care. I don't see many of my tenants because they are sight unseen coming from out of state. If they can qualify financially, have great background and credit score, etc all good in my book :)

In all fairness, my rents are $1200-$1800 a month so to qualify at 3X rents, my tenants make a significant income. I also require W2 income or if self employed tax records, so I haven't had to worry about looking for signs of illicit activitiies.