All Forum Posts by: Nicholas Zaharevich

We talk about getting into multifamily, but or goal is to create just enough passive income to equal my current income so we can do this full time.

@Keesha Duminie My wife and I found our niche accidentally. We both owned homes before we married. After we married, we moved into one and rented the other...and that's where it all began. We eventually came to the conclusion that our business model was to rent houses we would live in. We allow pets because we are a family with a dog and understand the circumstances, even though we do have restrictions.

Ultimately, we tend to buy a house, live in it and fix it up. Then we refinance, buy another, and rent out the refinanced property. We call ourselves serial home owners and have lived in every house we rent, except for one.

@Brett Palmer

As you will see from many of the replies, it ultimately depends on your investment strategy. There is no right or wrong answer. Personally, my strategy is to pay down my personal home in order to eliminate/minimize my living expenses.

However, there's a point at which I may convert my personal home to a rental and move again, since I can buy 0 down on a VA Home Loan.

I just keep my options open, but I have no intentions to pay my rentals of before my personal home because someone else is doing that for me.

Additionally, it has email and text built into it, though I use a Google Voice number to text. It tastes incoming for each property, uses DocuSign to sign leases, and is connected with zInspector for moving in and out as well as property inspections. Great product overall.

@Cameron Riley

I started with Cozy, and loved it. As I grew, I migrated to Rentec Direct. It has a small cost to it, but it does more what I want. If you have more specific questions, let me know.

Nick

@Kavin Kuykendall thanks for the reference. I look forward to hearing back from him soon.

I'm looking for recommendations for a contractor in the Walla Walla or Waitsburg WA area for some small work that I can't do myself.

I need a rim joist replaced and a new back door put in. If anyone has any recommendations, please and them my way.

I know it's small potatoes, but I'm struggling with finding contractors who want to help.

Thanks!

@Kavin Kuykendall Waitsburg has very few rentals and in need of more. The type of tenants you going to see are going to be slightly more risky. Either unemployed and living on a fixed income (like social security or disability), or younger blue collar workers who can't afford to buy.

If the rents and details are what the seller is claiming, then it will definitely cash flow. If you self manage, you'll keep even more.

@Kavin Kuykendall, something you might be interested in? I don't live in the area, otherwise I'd go. If something is scheduled when I'm in town next, if be glad to meet.

I am familiar with the area. I just purchased a house in Waitsburg in September. 868 sqft 2/1 SFH that fetches $900. I had it leased before I finished renovations with a tenant that moved in on 1 October. Tenant pays all utilities, however, the City of Waitsburg will put a lien on your property for unpaid utilities.

I charge my tenant the base utility rate and any overages I have an additional charge. You would probably want to set up a CAM charge unless there are separate meters...which I doubt there is.  

Also, there is a new pulp mill called Columbia Pulp about 20 miles away that is bringing new jobs to the area, but most commute to Walla Walla or Dayton for work.