All Forum Posts by: Nicholas Zaharevich

Allison, we use A&B Painting, Flooring. Azem is the owner and has done amazing work over the years for us and family. I'd be happy to send you pictures of his work. His number is (509) 205-2911. Let him know I sent you.

Nick 

@Jorge Barboza Jr. I currently own and manage multiple SFR and one small multi-family in the Pasco - Kennewick - Richland area. I'd be happy to connect if you're looking in the area.

@Ford Bennett. I have multiple properties in the Tri-Cities. I'd be happy to connect with you. We mostly have SFR and just bought a 4 Plex in Kennewick.

@Jason Kim Welcome to the party! I too found bigger pockets...just a a few years after purchasing our 3rd home. As many have already said, there is tons of resources here. I personally listen to the BiggerPockets Real Money and Real Estate Rookie podcasts regularly. I am in your area and there also a few local Facebook groups (OlyREI & Washington Real Estate Investors Club).  OlyREI seems to me a little more active these days if you don't mind heading south.  I'm happy to connect, feel free to reach out and good luck!

oh, sorry, the neighborhood is in an opportunity zone.  Not great, but there are worse areas in the Tricities. 

The CoC might not be relevant. I am just pulling equity from a rental (formerly personal home that I bought 0% down), in order to buy this one.

@Stephen Brown

The electric bill is just the laundry room that I would cover. The 4 units pay for their own electricity and are separately metered. Just sharing, I am under contract already. We pulled equity from another rental to buy this one. 

This particular multifamily is also in a designated Opportunity Zone...supposedly no accrual of tax (assuming capital gains) if held for ten years or more

View report

*This link comes directly from our calculators, based on information input by the member who posted.

We used to use Cozy and track expenses on Quicken Rental Property Manager. But the reliance on a single operating system pushed us to an online accounting platform. We moved to Rentec Direct and have been happy with the service. It provides all of the accounting we needed, but also includes marketing, applications, background checks, lease signing, managing/monitoring maintenance, on line rent collection...all of it.  We have ours set up to remind tenants 10 days before rent is due.  7/9 tenants have an automatic deduction, the other two set up a single transaction once a month.  Late rent automatically applies late rent fees that we built into it as well as collects credit card fees that our merchant vendor charges us.  There are many programs out there, some free, some at a cost. It just depends on what you want, and how you want to do it. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $180,000
Cash invested: $45,000

Contributors:
RaeLynn Zaharevich

2 bedroom 1 bathroom home

What made you interested in investing in this type of deal?

Initially the price! The location and size of the property meet our niche. After seeing the home, we just knew we had to have it.

How did you find this deal and how did you negotiate it?

A drive by from a family member. My wife and I received a photo of the for sale sign and immediately contacted our realtor in the area. We originally offered asking price, but then came down after the home inspection.

How did you finance this deal?

Conventional financing. 25% down.

How did you add value to the deal?

We didn't need to. We did nothing to this property and rented it within 4 days.

What was the outcome?

A rented home with very minor updates to electrical and plumbing.

Lessons learned? Challenges?

When a deal falls in your lap....go for it!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Uh yeah! Nick Kunde with Kunde Real Estate and Heather Hendrix with HomeStreet Bank.