All Forum Posts by: Kory Thaut

@Dave Foster Just to confirm, the 1031 is based on the net sale of a property or properties, not gross? E.g. if someone sold an SFR for $500k with 10% in commissions, etc... the likekind would be for $450k+, not the $500k?

Thanks,

@Lacey Hunter I am familiar with the 3 parcels that make up the 12 unit complex (as well as the Beech street units). Given the sale price delta from listing and how fast closing occurred, I had assumed you originally purchased with cash. Very good job on making that all happen with bank financing.

That same seller / investment group in addition to Beech St. had a very large portfolio of 2-4s and multi's they put up for sale in 2018. 

@Lacey Hunter looks great. Congratulations. 

@Mathew Wray I know Clackamas Federal Credit Union does at 75% - it's their RELOC product. However, the draw and payback periods are VERY short.  Something like 2 years if I recall correctly.  

@Nick Salmon Welcome to BP!

I invest in Moses Lake from out of state and my business uses GRQ Property Management. However, I do have close friends at other companies there as well. I am originally from Moses Lake and head up that way from Portland, OR several times a year. If you'd like to connect, feel free to send me a message. 

@Jack Gallacci Congratulations on the wedding and welcome to BP. I invest in Moses Lake and am there several times a year (originally from Moses). I'd be happy to chat as well.  Feel free to send me a message if you'd like to connect.

@Nate Currier Lots of multi construction in Moses Lake. I live and invest in the Portland, OR area but have a duplex in Moses. Who is managing your SFR there?

@Patrick James Welcome!  Fellow WL resident myself. 

BP - I am considering making an offer on a four-plex that is waterfront to a large recreational lake in Washington State. According to my insurance agent, the only additional insurance requirements from a “normal” four-plex is taking into account flood risk / insurance - no other liability concerns.

I’ve never owned water front property myself, let alone rental property on a lake. Seems like there would be more issues / risks to take into consideration and I wanted to get thoughts from those that have rented property with waterfront access.

The first issue that comes to mind is the shared back area and access to the water. For example, the property has a single dock (room for 2 boats, 1 on each side) but the seawall would support 2 more boats. I could see issue with who gets what access and when. Maybe boat moorage would be an additional income opportunity?

Any other questions / concerns I should be taking into consideration with renting waterfront property to multiple families?

Thanks,

@Katelyn Convery Great introduction and welcome to posting on BP. It's great you know why you do what you're doing and have a love for both music and REI. Finish 2017 strong and have a great 2018.