All Forum Posts by: Jared Boundy

Sounds like they must have damaged the old oven, so they replaced it. I’d ask, but not care as long as it works. I don’t think I’ve ever had the anti-tip bracket installed in my own homes or rentals, and never had a problem. I also don’t bolt my bookshelves to the wall, but never had either tip over.

@Mark Fitzpatrick, you're doing the right thing by asking for advice here. While there's always a risk no matter what you do, you just need to evaluate what risks you're willing to take to achieve your goals.  Since your plan is to purchase another property, I'd start with how much money you need for the down payment on that.  If the price is fair, and you won't pay commissions, it may be worth considering selling to this person. However, you need to know your minimum requirements. I'd worry less about whether they are going to default, or the value is going to drop. Getting the cash you need up front is the main thing, and then secondary would be to not have your mortgage canceled unless you're planning on it (the suggestion of offering a lease, with an option to purchase could solve that issue, as you don't transfer ownership until the buyer gets their own loan). The salse price is not the only thing that matters, but, in most cases, you end up actually getting more by listing it on the open market. Best of luck!

Hi @Ginger Carr, I'm sorry nobody has responded.  I was using Cozy, which was purchased by Apartments.com in the last couple of years. Apartments.com works fine, but there is about a 5 day delay to actually receive funds into your bank account. The biggest challenge I have is that when you're creating a new posting of a vacancy, you have to wait for it to get approved. So now I mainly just use it for the rent collection, and I use Zillow, craigslist, and Facebook Marketplace to advertise my rentals. I've recently started using Intellirent.com for screening, as it further automates the reference checks (only works perfectly if the employers and former landlords respond), but it includes an authorization form (electronically signed by the applicant) that you can download. Previously, I sometimes couldn't get much info from landlords who required a signed authorization.  I'm looking into Azibo now, but it looks like I'll keep using Intellirent for the screenings.

@Carlos Villegas the best place to start investing is where you CAN and where you WILL! So it that means Atlanta because that's what you can afford, then you know you don't need to be looking elsewhere. There will always be other opportunities down the line. And the fact that you are from there probably means you have connections there that make it more likely that you will be able to make it work, even if you aren't currently living there. I'm not sure on what the requirements are for a VA loan, so you'd want to speak to a lender. I know that sometimes on a primary residence, they want you to live there for a certain period of time, and others just say that you need to intend to live there. Cross Country Mortgage is a good lender if you want someone who can lend all over the US. I'd be happy to connect you with some great loan officers there.

Definitely local...I'm looking at city zoning that has specific adjustments to zoning density, parking requirements, etc.

Hi @Steven Woods, I'm sorry to see no responses here.  I don't know anything about the Lake Elsinore area, but I'm very interested in this topic too. I'm considering a small affordable housing development, and it seems like there are some significant benefits to doing so. However, I'd agree with you that screening will be a very important issue. I'm also concerned with whether the low income rent limits will continue to increase at a similar pace as inflation.  I don't mind charging lower rents (as long as the numbers work with my plans), but am I going to be stuck at today's low income rental rates while regular rental prices skyrocket? If so, the quality of the low income tenants could be decreasing over time.

@Dave Madoch, welcome to the Evergreen State soon! It can be tricky to find multi family for a good price around here, but I think some of the best opportunities are when you can add a unit to something existing. Sorry I don’t have exact construction costs (can vary a lot). I wouldn’t expect the actual construction costs to be very different from Seattle to Everett or Snohomish. Just the permitting process will be different. I’m getting ready to build a couple of units in the city of Snohomish, and would be happy to share what the costs end up being, but it won’t be that soon.

In most areas you can add an ADU to any single family home, and in Seattle you can even have 2! There are several pre-designed plans available, and even 10 pre-approved by the city for quick permitting.

@Carlos Villegas it sounds like you're thinking the right way, and have a plan. Just keep going! And as you've probably read/heard a million times already, it's a good practice to start analyzing prospective deals to see what kind of numbers you're looking for in a deal (and how to get them).

Welcome Carlos. The best time to start is now! I don't have any specific books to recommend, other than "Rich Dad, Poor Dad" or "the Alchemist", but you can read up on lots of articles and posts right here on BP. I'd recommend figuring out how you're going to fund your purchases.  It's always easiest when you have a steady income at first. And you don't have to go to a place where you know the market, but it really helps to be a place where you have relatives or friends nearby, or where you would want to travel somewhat frequently.  So if you have family in Georgia, that should be on your list of placed to consider, if you would like to vacation in Alaska, or Florida at least yearly...then put a place like that on your list too. Probably the most important is to identify your personal goals, figure out markets that will work for those goals, and then start to make contacts in those markets.  As you progress, it should become clearer where you want to invest.