All Forum Posts by: Jacqueline Cliff

If it were me, I would pull out 50% of the equity so your LTV stays good and it cash flows. Then I would take that and get into another small multifamily property.

Lake Chelan comes to mind.  I've toyed with the idea of a Lake Union house boat, but that is mostly because I think it would be fun to use.  

Definitely get a better closer.  As for changing the lease terms, you would be hard pressed to add something to it until it is up for renewal.  Is there anything in the existing lease about making things secure or the common areas?

Gotta jump in here and say it is just crazy the way rents are popping up all across the region.  

Always best to walk away from deals that don't follow the rules.  Unless you just have loads of money to gamble with. 

Just a quick thought....one way to allow for ease in showing prior to current tenant vacate and better chance of upkeep may be to offer an incentive to the current tenant for keeping the property show ready for 3 weeks prior to their departure.  In theory, this would allow for a more immediate filling of the vacancy which would pay for the incentive and potentially lead to less damage to the unit overall.

Best of Luck! :)

Good choices! @Joe Specchio.  The flipping is definitely getting a bit tighter in the "Seattle" neighborhood, but there is still some potential both North and South.  Just keep true to your margins and don't forget to add in a bit for "surprises" :)

Welcome to the wonderful world of real estate :)  Have you decided what area of the business you would like to play in?

I am with @Thomas S. on this one.  Definitely need leases (and keys to the units like the last property I sold didn't) and having previous owner's relatives in there sounds like a recipe for trouble.

First thing to ask is what part of Washington?  The two sides are vastly different.