All Forum Posts by: Jennifer McElliott

@Mark Jennings Are you still investing in Montgomery? We have an SFR that we still rent out there and am in need of a PM to help turn our home. any help w/ a good reliable PM and painter would be greatly appreciated!!! TIA

Ooh, I’m never a fan of all studios or even 1bdrm, I feel like those just result in more turn over and out in the burbs like that, I’d think there’s higher demand for more space and bedrooms. You can check with the sellers renters history though, as a prospective buyer you can ask for his rent rolls and rental history and see what his vacancy rate is/was. I’d also Check and see how many rentals are currently listed for the area (Zillow or FB marketplace). Another option if the 4plex is close to hospitals is to set them us as furnished rentals and do Short term (3+ month rentals where utilities are included but you get a higher premium). Best of luck to you!  (Oh and if you do a search for vacancies in the city there is a site, I can’t remember if it’s city data that will tell you this basic stuff too)

@Lara Nicole we made sure to look up proximity to hospitals and when we furnished the unit we did it with nurses needs in mind (ie, blackout curtains, WiFi provided, simple and clean, washer/dryer included, you get the picture)  we posted on furnished finders (.com) and on Facebook as long as you price yourself well, you’ll find yourself consistently booked!  (I’d also recommend spending to be a verified owner on the furnished finder site, it gives the Travellers peace of mind since many will be booking sight unseen and providing deposits etc). Hope that helps!

@Lara - it all varied depending on city, but as a for instance, we bought one at the end of 2019 (for $435), and ended up selling it for about $100K more, i.e. $550K. Another duplex was purchased in mid 2019 for $435 or 440k and we're also in the process of selling that one for $565K. The duplex and triplex we purchased in 2016/2017 both appreciated about 65-67% to date. they all cash flowed when we brought the unit's to market rate, and then we did great when we converted some units to STR for traveling professionals - so maybe that's an option to help you make your numbers - or rent by the room instead of as a whole unit!

we purchased in Snohomish County from 2012 til now and we never really found the 1% rule up here... BUT appreciation has made them all winner (and w/ 25% down they all cash flowed, i think for 1% rule you need to look at the midwest!)

This is a unit in a duplex/triplex property... no, i'm not trying to evict b/c she's demanding... I'm worried about her destroying the property.  Thanks we are hiring handymen to come in to do the jobs, i'm definitely staying out of it

I’m in WA (in case that makes a difference)... question is... during this era of COVID eviction moratoriums... what recourse do I have w/ a tenant who bounces between being normal and hostile...

It’s a long story of her demanding things, her working on her timeframe but becoming irate if we’re not also working on her timeframe... she seems to constantly have issues.  After an afternoon where we had been fixing and replacing items in her unit she came home and claimed we left her front door wide open.  We don't believe we did, but she was in a crazy rage about it, and she cursed my husband out and moments later sent a photo of a brand new kitchen faucet that we had installed during the upgrade now broken and said “oh, and this is broken too, fix it”. She obviously broke it in her rage - now we worry she’ll go ahead and wreck the unit and expect us to just keep on fixing stuff in her unit as she destroys it.  

Do we have any options to evict her due to cause?  We do have a clause in her lease that she has to maintain things in working order (not worded like that, but you get the idea) - is the kitchen faucet enough to start this eviction, can I evict based on destruction during COVID?

TIA for your help, we’re just so stressed out by this lady!

Hi @Matthew Kimball - yes we were going to list it, but then found that the neighbor home had been purchased recently and they were interested in our plat as well, so we are now in contract w/ them and are set to close in early Dec.  Definitely is a hot market there!  

Hi -thanks for starting this thread William and welcome to the BP forums!  Great to 'meet' other local investors - we've been investing in Snohomish Country since 2013 - started w/ SFRs and now small multi-s.  Would love to connect w/ others in the area and swap best practices/ideas or resources!  We actually may be looking to sell a Lake Stevens Duplex before the end of year!

WOW 10 pages and going strong - so glad to see so many other ladies out here in the REI world!! I'm a 10 yr (ish) veteran of real estate investing up in the state of WA! Would love to connect with any others in the area (Snohomish County!) as we hope to make this year a big year of building out our portfolio and turning some of our triplexes into quads, or duplexes in tris (or quads!). Would love to learn from others or share resources!!