All Forum Posts by: Nate Bell

@Todd MacDonald

Welcome! I’m up in the Columbia Gorge and know your area well. You’re in the right place on BP and in a great market down there. Best of luck!

@Misael Carlos Vera

Yes, but the two things are sometimes incompatible because off market deals often involve a promise for a quick close. It can be done, but conventional financing removes some of the competitive advantage you have to get the deal off market.

@Mark Ross

I started out using Cozy for property management and still use that platform for receiving applications/background checks.

I like Rent Redi better for managing the property once it’s up and running, but applicants really struggle with the application process on RR- it’s too onerous.

The main drawback with cozy is that they don’t have an app- so you have to navigate a website on your phone and they want to like triple authenticate every sign in. It’s annoying.

@Nicholas Pritzl

If you can see yourself living in a 4-plex, I’d go that route. Especially early on, it’s nice to know that the property will likely never be entirely vacant. Also, as rents go up over time, and because they tend to go up in $25 or $50 increments, having rent go up in four units has a bit of an advantage.

@Matt Cox

I have an ADU and some of my friends do as well. Any home builder can also build you and ADU. You should expect to pay ~ $250/square foot in this area now. You get no economies of scale on small dwellings, so the cost/sf is really bad.

Look into water/sewer connection requirements, driveway cuts, and parking requirements. Those are typical hidden costs and complications that can really impact the profitability/feasibility of ADUs.

@Aaron F.

This might be the best post title I’ve seen yet!

You need to get into a “what’s the worst that could happen” mindset. The downside of the worst possible outcome from one of these interactions is so insignificant. A rejection isn’t going to change your life at all. Know your subject matter and be yourself- those two things will go a long way and should be all you need to break the ice.

@Cameron Riley

It sounds like people have access to an online application without you sending it to them. I meet with folks, show them the unit, talk about the rules, ask about their lives, and then send them a link to the application. After I get about 3 in process, I start telling new prospects that I have applications in already and I’ll put them on a list in case they all fall through.

There would never be a scenario where I’d receive 25 applications.

@Maxim K.

They are exercising the only leverage they have, and it reads like you’ve known about these things for a while and have left them no choice. Critters in the house is very unsettling for people- they’re a nuisance, unsanitary, and they make people ashamed of where they live.

Fix the issues quickly, mend the relationship, and see how it goes from there.

@Calvin Jordan

Drywall and roofing- just pay for it. If you don’t already have drywall skills DO NOT try to learn on your own job if there’s more than one sheet of drywall involved. And a decent roofing crew will do in two days what would take you a week and a half of soul crushing labor.

@Ryan Reddy

On a cosmetic rehab, I don’t think a GC is adding a lot of value. If you can spend an hour or two a day on the phone or at the site, you can do it yourself, learn something, build some relationships, and save some money.