All Forum Posts by: Kishor Y.

@Jaysen Medhurst Some properties that I see have sewer 500 ft away and would need 500$ per ft to bring the sewer to property. Septic would be probably cheaper and which is why I wanted to understand the septic vs sewer pros/cons

Hello BP,

I have never done a ground up construction before but I am curious about ground up constructions in Snohomish county, WA

Couple of properties that I am checking have septic only and don't have Sewer.

(1) How does Sewer vs Septic look from resale point of view

(2) How does Sewer vs Septic look from buy and hold

(3) Any other gotcahs

Tom,

I have realized you never put your own money. All the lenders that I have used always lend only the amount that I owe to HML. Do you have any lenders that refinance upto 75% of LTV

Hello BP,

I have done a couple of flips in Snohomish county and have never flipped a mobile home before. I came across the following off-market deal in Granite falls, WA

Purchase price: 125k

Rehab budget: 100k

ARV: 325k

Existing mobile house is permitted and is currently 3 Bed 2 Bath 1050 sqft house with a septic

1) Is my rehab budget ( including tear down, ground up, permit costs) correct ?

2) Do you recommend any vendor in the area who is experienced with tearing down and building new mobile home?

3) I would appreciate any other gotchas

Thanks,

Kishor.

Thank you for all of your suggestions, I got a new PM

From https://www.biggerpockets.com/... I can see that PM doesn't need a license.

Hello BP,

I am renting out my first property next week in WA and I have few questions related to property manager.

My property manager doesn't have insurance ( General Commercial Liability Insurance and Errors and Omission Insurance proof)

I have both landlaord's insurance as well as an umbrealla insurance.

1) How can I ensure I am protected because of a fault from property manager?

2) My PM is keeping my name on the lease agreement instead of keeping his name. Is that normal ?

3) Also, I don't have an LLC, I don't want to keep my house address for privacy reasons, I am thinking of renting a mail box, any luck with that?

4) My property manager is giving an option for me to get the rent deposited into my account directly from the tenant, is that okay ? any issues with that?

5) I didn't have an agreement with my PM, should I get one? Is there any problem for not having one? 

Hello BP,

I am currently looking at a off-market property in Everett that has 0.5 acres of lot and zoned as MR, how can I subdivide the lot such
that the existing house will stay in one lot and the remaining piece of
land is subdivided into one or more lots. I came across https://snohomish.county.codes/SCC/30.23.210
but I could not understand how I can use that to subdivide the parcel
into two lots i.e., one with the house and another one without the
house.

@Gaurav Malhotra

Great, PMed you.

@Gaurav Malhotra What did you endup doing ? Did you find someone in the range that your looking for? Did you talk to tract builders?