All Forum Posts by: Inessa Stysis

@Alyssa Dyer does that lockbox you linked require wifi? I tried looking through the description and didn’t see anything definite.

If not - do you have to get within Bluetooth range to communicate with the box?

@Nikki Closser I would look at the properties that have been actually selling and see how they compare to the stagnant properties and what differentiates them. And their locations. Someone earlier mentioned finding properties on the edges of nice neighborhoods, not sure how long you’ve lived there now but that would be a good strategy and help you learn about the area on a more micro level. You should also look at overall amenities nearby, how close it is to a highway exit, schools, etc. Properties that are just off of a main road attract more buyers usually.

You know how crazy the PNW is so if you’re able to find something with value-add in a good neighborhood I say go for it!

@Jingwen Dunford that’s amazing! Have you posted any details of how you did this on the forums? I would love to find out more!

@Jason Allaway hello and thank you for your service! My husband is in the Navy and we live in Tacoma as well. Fixated on real estate does meetups here and in Seattle, can’t speak for them personally as I haven’t gone yet, but I’m hoping to make one soon!

@Chris Levarek that’s so amazing! Did you have contacts out there? Are the investors you found local to that area?

@Nathan Shankles a few other items I haven’t seen mentioned yet:

IRA directed investments can't take depreciation, which is why storage facilities, mobile home parks and other land investments are the best choice.

Absolutely no sweat equity or personal management would be allowed. The IRS considers that combining personal and investment “funds”.

@Andy Reichert ours did end up taking right around a month. We submitted with a three week close, but then did a few extensions. The thing that held us up was the appraisal - the VA has very strict requirements and you have to schedule it through them. But like I mentioned earlier, having a team behind you that's on the ball and ready to go as soon as paperwork comes in really helped.

There's now a new VA form that specifically allows you to back out of an offer if it doesn't appraise so make sure you're aware of that also!

@Andy Reichert thank you also for your service! How extensive of work are you trying to do to a property? My husband and I just bought a house with VA financing and we bought a property with a lot of cosmetic work needed. During our search though, we did put some offers on duplexes that we got beat out but had definitely needed some work!

@Victor Wasson thank you for your service! My comments on your percentages would be:

Vacancy - this is an area dependent statistic and I’m not sure where you are located but this seems high (I estimate 5% for my analyses).

Property management - while you’re occupying the property, you could self manage and save here. If you eventually move out and hire a company usually it’s 6% unless you’re in a lower grade neighborhood. Some companies will charge more in these situations because they’re handling more issues.

Capex and repairs seem alright, and it's good to have those reserves even if you have a newer property because even new construction can have issues.

Having gone through a VA loan home buying process myself, I definitely agree there are more hurdles to jump over but having the right people can make all of the difference. Make sure your lender and agent are both savvy with VA loans and finding investment properties and are working towards your goal of house hacking. Again, depending on where you live, mother in law suites or ADUs could be a great option for you. In my area both of these are very common, and we just had some very pro-ADU laws pass as well.

And if you are able to refinance after a few years, you could get a conventional loan on your property that potentially will then cash flow and then use your VA loan again. That's our plan!

Hey all! I was paroozing the RE Magazine autumn edition and saw an article on some tenant law changes in Washington state that seemed pretty major. I posted this on my Instagram and figured I would share it here also for any Seattle, Tacoma, etc. investors! (Disclosure: not a lawyer).

Washington investors.. are you well versed in the 2019 Residential Landlord Tenant Act? It went into effect this past July, but just in case, here are some fun facts:

Month to month tenants are required to get at minimum, a 60 day notice of rent increases (up from 30 days).

Month to month tenants who are members of the armed forces can terminate their tenancy agreements on less notice if their orders don’t allow a twenty day written notice.

If a landlord intends to demolish, or substantially rehab or change the use of their property, tenants must be notified a minimum of 120 days prior.

Finally, the law created a way for tenants who lose an eviction hearing to reinstate their tenancy in the property. So even if you win the hearing, you may end up still keeping your tenant.

I may be a badass negotiator, but I’m not a lawyer. So don’t take my word without consulting your own attorney. But I wanted to share because #themoreyouknow