All Forum Posts by: Kevindra Singh

I agree with @Aaron Nelson. I use Geico Homesite for my current owner occupied 4plex. And the insurance is about $163 per month. 

@Geordy Rostad @Quito Keutla Thanks for the insight. That does make sense. And I also incorporated @Aaron Nelson 's advice. So, with PM included, it comes out to be about 1% COC return (with existing rents). And I can potentially get more by fixing the 4th unit and increasing rent.

@Curt McClements good to hear about the vacancy rate! Do you know if in that area is it possible for landlords bill back utilities (electric/W/S/G) to tenants or is it included in the rent?

Hi BP,

I'm a Seattle based newbie. I am planning to buy my 2nd fourplex, but this time in South Hill Puyallup, WA. I am new to Puyallup area, don't have much idea about the upside potential of the location. Does anyone have any idea about it?

3 units are in good shape but have to do some renovation on the 4th unit. Building condition is average I think, roof is ~15 years old (composite roof). So, may also need exterior painting + roof replacement. Also, I wanted to get a second opinion on what you think about the numbers:

• PP : $650,000
• Rent (after repairs): $1275*4 = $5100
• Vacancy (6%) : $306
• Maintenance & Repairs (10%): $510
• CapEx (5%): $255
• Utilities (10%): $510
• Taxes: (10%): $510
• Insurance: $200
• Management: $0 - planning to manage myself for now but may hire PM down the line (1-2 years later)

• Total Expenses: $1975
• NOI: $3125
• Mortgage (PI) (@ 5.5%): $2514
• Cashflow: $539 / month = $6468 /year

• Down (25%) : $162500
• Closing costs: $13,000
• Repairs: $35000 (don't know what repairs are needed yet)
• Total OOP: $210500
• COC return: 3.07%

Do my estimations look fine for the location? Am I missing anything? Thanks!

@Arun Sriram

> At least this way you can get your hands dirty and gain direct experience of managing the rental the way you want to.

Does this include self-managing the rental property which is the primary residence too?

@Brandon Leong Thanks for the explanation! I'm also on the same boat. Did you finally buy the property under your name? If so, are you managing it yourself or using a Property Management (Not sure about your investment strategy, thinking if it is buy and hold)?

I have been doing some reading myself and seems like self-managing a rental property can bring some risk to H1B status. 

Thanks for your help!

Hi BP,

I'm currently in the US on H1B visa (4 years so far) and have approved I-140 (permanent labor) which allows me to extend H1B. I'm looking to buy my first rental property. 

My questions are - is it a good idea to start LLC for my very first deal can I manage it while being on H1B visa? Also, does anyone know if rental incomes are allowed on H1B visas?

Appreciate the help very much!

Hi BP, I'm looking to network with a buyer's agent in King county, Washington area. I am specifically looking for someone who specializes in working with investors. A little about myself: • I'm brand new to real estate and would be buying my very first property. • I have my property criteria locked down. • I have pre-approval from my bank and I'm ready to go. • I'm not here to waste your time. • I'm looking to buy within next 2-3 months. If you think you can help or know someone who can, please feel free to get in touch with me. I'd appreciate it. Thanks,

Amazing job! I'm blown away snd inspired. Thank you