All Forum Posts by: Justin Davis

I have an issue with a tenant. She was there when I bought the place. Currently on a month to month lease. She has 5 kids and some lowlife boyfriend that's not on the lease. I believe there was some domestic issues with them in the past, but that's before I bought the place. It's a 3 bedroom, 1.5 bath, with a basement/garage. About 1650 sq ft. She pays $1200 a month. Market is $1700 in my region. The other day she complained about her refrigerator not working, so immediately went to my used appliance guy and picked up an apartment sized refrigerator that I said is temporary until I can get a larger one. She said it was too small and said she was going to buy a new one and take it out of the rent. I said "no way". There has not been a solution to that issue. About a day later, her lit cigarette caught her mesh screen on her back porch on fire. It caused about $50 in damage. During that same time, I had a plumbing issue that took a few days to get resolved. The plumber came on Friday, couldn't fix the clog and had to wait until yesterday to fix it. It's finally fixed, but during the weekend, she continued to yell and complain about the clog, even though she knew the plumber was coming back on Monday. Anyway, I want to kick her out because I have someone that wants to move in and will pay $1700. He doesn't have kids and is the type that plays a lot of video games. She constantly screams at her kids and her kids are noisy. I live right next door. What's your advice on how to get her out in Washington state by 9/1. I have a $1300 deposit of hers. Thanks in advance. Am I up **** Creek without a paddle ? Or am I exempt?

Newbie here. I purchased a 3-plex. It's in Tacoma WA, Central area, near downtown. Anyway I'm concerned that I purchased near the top of the market and I'm wondering if it was a mistake? I've learned a bit since I purchased but my knowledge was pretty limited at the time. I wanted something pretty bad. I've done the math. Please let me know if I have this right. Assuming current market rent is $1 per sq ft. Give or take. Utilities are reimbursed. I'm exaggerating monthly maintenance expenses. Thanks in advance.

Asking: 500k

Sale; 449k

Bldg Sq ft. Around 5k

Unit 1: 1700 sq ft (400 sq ft basement/garage) 3 bed Current Rent: I live in it.  Market: $1500

Unit 2: 1700 sq ft (400 sq ft basement/garage) 3 bed Current Rent: $1100 Market: $1500 

Unit 3: 1100 sq ft (100 sq ft garage) 2 bed Current Rent: $900 Market: $1100

P&I, T&I: $2700/month

Expenses: $50/month

Income: $2100/month

Income if I didn't live there: $4100

NOI at full potential (current market): $49200 - $33000 = $16200

$16200/449k

Cap Rate: 3.6%

Listed Cap Rate: 5% 

Thank you everyone for the responses. This RUBS system seems like a less costly alternative to getting a water sub metering system and/or 3rd party billing service. I'm an accountant by trade so I will not have a problem with the work that it entails. 

Although, this is less expensive, I am still concerned with the tenants arguing that it is not measuring their actual usage. I've checked with Submetering Solutions LLC located in Renton, and it seems that this type of service would be more of a cost benefit for buildings with 10 or more units given that there is a minimum of $100 fee per month. My tenants would cover $10 each of the fee and I would have to pay the additional $70. Would anyone know of a submetering system and average cost that I can purchase and install that will transmit usage to a cellular device? Thank you in advance.

I own a triplex. Each unit is 1300 sq ft.

Does anyone know the best way to charge tenants, at a triplex on one water bill? I have a tenant with five kids. I live in another unit and another guy lives in the other. That's a total of 8 occupants using the water. It wouldn't be fair to split it 3 ways, equally. I was thinking usage. That brings me to my next question. Does anyone know an affordable way to measure their usage? I do not want to charge a fee because I have to count that as income. Thank you in advance.