All Forum Posts by: Heidi Wilson

I’ll be there!

Thanks for your replies! The other constraining factor is I have a pit/lab mix dog which probably precludes me from renting most places. I’ve looked around and there are a lot of “no pets” and “small dogs only” requirements. Plus she needs a yard (she’s bad with other dogs so dog parks are not fun)

Hi everyone,

I’m currentky in Columbia SC and have received a job offer which requires me to move to Seattle. I have 4 rentals here in a Columbia which I plan to keep, and my home, which I will likely sell if I move (for the capital gains tax benefit).

The question I have is that Seattle is a hot hot hot market and while I’m totally fine jumping in with both feet, part of me wonders if it might not be a better market to rent in, which would  allow me to use the cash from the sale of my house for other investments. I’m also a bit worried about a market correction (and spending $700k on a fixer upper and finding myself in the middle of a correction!)

Any thoughts on the pros and cons of the Seattle area market? My job will be in Bellevue btw.

I have come down with the flu so will miss our meet up. I’m so terribly disappointed as this sounded like it was going to be quite interesting! Will there be any summary notes or recordings of his talk? Or is it more informal. I can’t believe I’m missing it :(

Allowing the security deposit to be “delayed” - it never came and when they moved out they left the place a mess and I had to spend hours cleaning up after them. I trusted this person because she seemed trustworthy. I should have known better when I discovered an undeclared pet she was hiding. Not enforcing lease abandonment. I need to be more strict and clear on what it means if they “cancel” a lease (eg no such thing). Jumping at every little thing when they call instead of being clear when some things are their responsibility.

It’s just a standard laundry Center (integrated washer drier). I have had it for two years at more than one property and have never had this issue before. I too found it odd.

I do. It says that tenants are responsible for all appliances - maintenance and repair during the term of the lease. But nobody reads the lease that thoroughly, so I’m just wondering what they might “expect” and of this makes sense from a logic standpoint

Hi everyone, Recently the washer at one of my properties stopped working. Turns out it was due to the renters not putting lingerie in lingerie bags so their clothing went right into the drain of the washer. I think it is proper to charge them for the repair ($110). Any reason I shouldn’t? It’s their behaviour that caused the repair, right? Thoughts?

My thought is not so much that cash gets you the discount but rather it gets you the deal. Bidding on the “best” properties gets tough so while you might think you can get more properties with a mortgage, you have to win the deal for it to work. So even if you are willing to pay a bit more on these deals, you may find yourself at the losing end anyway when you are dealing with a seller who just wants to close. Also, cash sales are faster so factor that in. I guess this may be a matter of “it depends.” If there are a lot of properties on the market where you are shopping then maybe trying for multiple properties at once is a good idea. Where I am, the inventory is tight and there are a lot of investors competing so it’s hard to find and win a good BRRRR.

The best BRRRR properties are going to be competitive situations where terms of the deal are an important lever. I always pay cash first and then refinance. You will never get another chance to create that much equity as with the purchase price. Do everything you can to get the best deal possible and you will reap the rewards later. When the market is less competitive it would be less important but I can say for me in this current market paying cash is super important.