All Forum Posts by: Karl Krauskopf

Send me photos, details, and your contract to [email protected]

Impressive sight, Melissa.  I've got a duplex in the Hillyard/Whitman block near Jim Hill Park - love that property.

I'm eager to continue finding larger multifamilies in Spokane and investing in that growth-rich city.  Would love to connect!

Tyler's price analysis and subsequently my purchase price was only 1% different in my favor.  Purchased $225 appraised at $228k

Hi @Jennifer Beadles -- I'd love to attend!  We just closed last month on our first duplex in Spokane and are eager to acquire more.  Your meetup event looks to be full at the moment, but I jumped on the waitlist.  If nothing else, I'll showup and you'll have to kick me out!

@Brian Olson reach out to me -- Tyler helped me purchase my first townhome-style duplex in Spokane last month and all is going smoothly. Within 3 days of closing on the property, we already had a renter sign a 12 month lease for the first unit (rent is $1200, PITI is $1202), and the second unit just became vacant late last week. I've got a contractor who is working on rehabbing that unit and should be rent ready by the second week of November.

Hi, Sonya, I just closed on a duplex last month (live in Seattle) and didn't have the best experience with Spokane County Title.  We had closing docs ready and to them on a Monday and we weren't able to close until Friday.  Granted, that's not much of a delay, thought you should know.

@Tyler Barranger is a great resource on multifamily in Spokane and surrounding area and very REI-friendly.

Just closed on a duplex late last month, and our inspector, Eddie Konrad, was fantastic and insanely thorough.  I was able to speak with him beforehand and let him know that I am investing remotely and setting the property up to rent.  He is a landlord himself so he took extra time to identify risks and clearly articulate requirements-to-rent.

@Kari D. I see you're in Shoreline... I live in the same town, too, I'd be happy to share a hardcopy of the report as well as discuss what your goals are and tactics specifically for Spokane.  @Tyler Barranger is actively helping me identify our next purchase and is a pleasure to work with remotely.

• $2.4k / month income for renting out 1 side + roommate on your side?  Seems high, but I don't know the CDA rates
• I'd expect that you're the property manager considering you live there, so that's good money to you
• I'd expect since you're living there you perform majority of repairs/maintenance
• I assume the units are separately measured for electricity, is $145/month for one or both units?
• Only 4% down and you're able to squeeze out 5% interest rate?
• Any cash for closing?

All-in-all, I think you'll do better than what the report shows.  I'd echo what @Ron Fletcher mentioned on paying off the asset. You can pour an additional $100k into the property's principle in year 1 but that equity won't do you any good unless you refi, sell, or take out a HELOC (i.e. your monthly payments will be unchanged)... make your money work while you do, invest elsewhere