All Forum Posts by: Mike Toole

Hello All,

I'm planning to buy a property (most likely a townhouse) in Seattle area but the house price has been discouraging for me. The market has cooled down quite a bit due to the interest rate and big tech layoffs, but it still makes me wonder if it's still a good idea to invest a property here in Seattle, or save the down payment to buy a property somewhere else.

I currently own a SFH in eastern WA and it's been generating amazing cash flow for me. Right now I'm living in my cousin's place in Seattle and able to save up for my down payment by next year.

My thought is buying a property in Seattle next year, and refinance whenever the interest rate drops. But my question is:

1. Generally speaking, is investing RE in the Seattle area a bad idea given how saturated the market is?

I could possibly have used the down payment that I have saved and buy a cheaper property somewhere else, but then it definitely will require more effort to remotely manage the property.

Any opinions would be much appreciated.

Hello All,

There's a chance that my current tenant will move out on 9/30, and a new tenant will move in in Oct.

Of course the most ideal scenario would be having the new tenant move in on 10/01, but this seems impractical, as I will need time to inspect, repair, and clean the house.

My question is, how many days do you typically reserve for cleaning & repairing the property, before turning the property to the next tenant?

I want to maximize the profit as much as possible, but at the same time I don't want to give myself too little time to clean/repair the house.

Any inputs would be much appreciated!

Hello all,

I recently moved to Seattle area and have been thinking about buying a house there. But the housing market is so discouraging that I feel renting is a better choice than owning a house right now.

With the same amount of cash, I feel Denver would be a better place to invest. Not to mention I have a close buddy who's been living in Denver for a while and he knows the area quite well.

With that said, I'm leaning towards buying a house in Denver, but this means that I will have to keep on renting a place in Seattle and start saving again until I can buy another house in Seattle.

I would like to hear everybody's opinions on whether to buy a house in Denver or Seattle. Any thoughts and suggestions are much appreciated!

Thank you all so much for your valuable input!!!!

Hi guys,

First time being a land here. I got someone asking to live in my place and below is her message:

My family and I are looking for somewhere to rent for the next 6 months. We are currently located in Utah and would like to move closer to family. We would like to sign a 6 month lease and pay for the lease in full upon signing as my husband and father-in-law would need time to get established and find work in the area. I work from home and can take my work with me. Please let me know if this would be possible for this rental. Thank you!

I haven't run the background check yet, and will start pre-screening soon. But I just want to know if there's something to watch for when someone is willing to "pay the lease in full". Even if they do pay in full, is there any red flags along the way? Please share your thoughts.

Hi everyone,

One of my applicants has a outside cat, and I'm curious if outdoor cat is considered a pet. If so, does anyone have any bad experiences with outdoor cats? Like do they cause any damages to the properties? Do they cause any disturbance to the neighborhood? Please share your experiences. Thanks!

@Scott M.

Single family home

Hi All,

I have this applicant who has a record of domestic violence happened in Ohio. After the incident, he moved to Washington alone and applied for my unit. He has a solid profile except aforementioned Misdemeanor. My question is if anyone had any issues with tenants who had such records. Can domestic violence be problematic for landlord in terms of property damages or other issues? Please share your opinions/experiences.

Thanks!

@Julia Puig Jordan

Thanks for the input!!

Hi all,

Let's say I have two prospective tenants who applied for my property. They both meet my criteria and all have good rental and criminal records. However, one appears to have a higher credit score than the other. How do I reject the one that has lower score. I know I have to provide a reason for rejection and will "having lower score than the other tenant" be a legitimate reason even if his/her credit score still meets my minimum criteria?