All Forum Posts by: Account Closed

 Your insurance will be cancelled. What if a child drowns in the pool? 

There is a huge difference between equity and cash. If it's equity it is useless in buying properties. If you can get a HELOC or something like that then you can invest. So, answering a hypothetical with a hypothetical, if you bought a Ferrari would you buy a Red Ferrari or a Silver Ferrari?

 Look, you are probably a nice person, but snow flakes don't survive in real estate in Seattle. I have no effect on your investing in Seattle. I am not the enemy, the city council is and you need to stay focused and do something meaningful about them.

I held multiple properties in Seattle for 20 years, had to fight to hold onto what I had and over the years it has just gotten worse and worse. I had enough, I sold it all and now I sleep peacefully (and more profitably) investing in other states.

If you don't fight a 9 to 0 vote by the city council, against you, by suing them, nothing in your favor will happen.

Have a nice day. ;-)

Home Depot has a "Pro" account which is easy to sign up for and allows you to set up automatic email receipts to your chosen email address. Just set up an email for that purpose. When you purchase at Home Depot it asks for the job name so you can keep things sorted by project . I have three flips going right now and keeping the expenses separate is important to me.

Also, the IRS auditor loves to see organized and properly tallied lists. I have my staff sort all Home Depot, Lowes, and Ace receipts, along with USPS postage receipts and Staples and Office Max receipts into separate piles by store name. Then sort each pile by date and scan the receipts (because receipts fade over time). Receipts fit about 6 to a page. Then I make an excel spreadsheet listing store name, amount, date and project columns so I can sort them in any order I need and then tally the results. Then I have them print copies of the scans and spreadsheet and clip them together. Then I put them into a tax folder on my computer and print the spreadsheet & put the originals in my tax box sorted and clipped together by project. If the receipts have faded over time, I have the scanned sheets that are still readable.

I need all of this organized so I can track my costs, do tax planning and be prepared if an audit should be called.

It makes it very easy for the auditor to find what he is looking for, sees that I am organized and creates for a better visit for both of us. You don't want to annoy the auditor with a shoebox of receipts. That's when he wants a second and more detailed visit. Second visits are not in your favor.

@Nikki Closser Sorry, I thought you wanted a solution, not just something to make yourself feel better.

The vote was 9 to 0 against the landlords. Do you really think they give a rat's %%% about a Petition??? That is a "feel good" waste of time. It's wimpering. The only solution at this point is to involve the local brokers and sue the city council.

They way the system works is that those who "have standing" (live in the area, vote in the area, own property in the area) are the only ones that can effect change in the area. Apparently you either don't know that or don't believe that or aren't really mad enough to do anything about it.  A petition is meaningless, they voted 9 to 0! that's NINE to ZERO. A petition only works when it is 5 to 4 and you can actually change one person's mind.

 Do something constructive and take your anger to the real estate agents to get them to join you in fighting the city.

 Okay, if you want to do more than wimper about it, contact Bob Ordal, Seattle Attorney (if he is still practicing law) who is very, very good and experienced in real estate and landlord friendly and ask him if there is a 4th Amendment case involving the matter. Your assets are being seized without being consulted and without compensation. You should also contact Windermere, ReMax, John L Scott, Keller Williams, Coldwell Banker, and tell the Brokers you will no longer be buying properties in Seattle because of the threats and liabilities of doing so.

They have attorneys and lobbyists who address issues like this. You cut into the real estate agents income and they will come running to your rescue.

This is a very serious matter and if you don't take a stand like the lady running the hair salon in Dallas, you have no right to complain. Sorry, that is just how it works. No complaint, they get away with it. The reason they are doing this now is because not enough people complained (sued) about making it a felony to contact people in foreclosure. They got away it and now they know they can get away with this is you wiffle out of protecting your rights.

It is very serious.

Fourth Amendment - Search and Seizure

The right of the people to be secure in their persons, houses, papers,
and effects, against unreasonable searches and seizures, shall not be
violated, and no Warrants shall issue, but upon probable cause,
supported by Oath or affirmation, and particularly describing the place
to be searched, and the persons or things to be seized.

@Robin Morales if I tell you why I'm buying Turnkeys in AZ instead of NV I'd have more competition wouldn't I? ;-)

You are Not Welcome in Seattle. Do not underestimate what is going on.

How are people who don't pay their rent for months and months EVER going to get "caught up"? Answer: There is no intention that they will.

May 4, 2020 at 8:11 pm Updated May 4, 2020 at 9:17 pm

Monday’s council vote was 9-0, despite opposition from many landlords.
 
“This legislation … can help people stay housed, and that is the bottom line,” González said

I'm not buying in CA right now. I'm focusing on Turnkeys and Flips in Phoenix, AZ and getting good cash flow on my Turnkeys.

It depends: how much do you know about title reports, purchase and sale agreements, counter offers, negotiating the best deal, addendums, setting up escrow, closing dates, occupancy, transferring utilities, inspections, cure notices, how to handle grumpy sellers or tenants, etc?