All Forum Posts by: Mike R.

i like the complete guide to buying and selling apartment buildings by steve berges.  i used it for my initial research before i bought the first MF property.  

personally I think if the only way the deal works is if I make a bigger down payment the deal doesn't make sense

sorry but what does MIL mean?

Marcia's lease suggestions noted in here post to this topic are also very helpful and we will be using them from now on

sort of... Tenant still there but we didn't notice the smell last time we were in the apartment.    A very helpful suggestion I received was to require that they show proof    Of up to date vaccinations and local pet license.   This is usually too much work for the schemers so they go away on their own

out they go

if you are willing to take a longer term view (say 5 yrs) Bremerton WA is a very interesting place.  we have a MF place there and couldn't be happier with the way it has performed.  given the rent in seattle, we are getting applicants that want a good place to live (look at DT Bremerton and how they have upgraded the area) reasonable rent, and easy commute (take the ferry).  I know kitsap county is trying to bring back the high speed ferry and if they do, i suspect we will see more growth more quickly.  All that good news said, Bremerton has its issues and stills needs some cleaning up but it is coming but patience are required. 

now is a great time to be a landlord, but we know it won't be this way forever...

Would love to hear from other investors about how they survived the economic downturn of 2008.  During that time, what was the top two things you did with respect to your rental properties that let you sleep at night?  what didn't you do that you wish you had?  Any thing you did that you wish you hadn't?

thank you for your reply!

let them out and be done with the headache 

yes I think we are peaking.   Too many people trying to make rentals work and they haven't done their homework.  An example is how many folks post to this website asking for help on basic stuff (what should cap rates be, how do I figure out expenses, etc) AFTER they bought the property.