All Forum Posts by: Paul Doty

I can see why they like it so much. They're in the right spot if they like mountain biking and skiing. That's why I live here :)

If you're ever in the area for research or to check out properties, drop me a line. I'm always interested to poke around some properties and meet like minded investors.

That is a little frightening. The value of some local knowledge keeps going up.

That's great news! Congratulations!

Yes, an ADU or duplex type option around here would be great! Or just the biggest house (most bedrooms) you can afford and get a pile of roommates. Gotta live somewhere, may as well reduce the expense while getting started. Are you looking for other markets to live in, or invest in?
Personally I've stopped putting effort into our local market. I need deals that have a positive cashflow from day one. I don't see many options for that around here, just a lot of people competing for very low returns :/

 Hi Parker!
Maple Falls is an interesting area. Is that where you're looking for Multi-family, or did you mean Bellingham/Whatcom Co. in general?

Wow that's great! How did it go today? I'm curious to know more about this deal and how the numbers look.

Edit: I didn't read far enough in the thread. I'm still learning this forum's functionality!

--Begin Original Post--
My question as well. If the downstairs tenants choose to leave, your Airbnb business could grow. It seems like most of the negative points posted in this thread could reduce as the business scales. 

Have you made any changes to your rate or minimum night stay?

That's it? Not bad! 

I wish I had an answer here, instead of more questions. Maintenance fees are usually driven by the age of the property and to a lesser extent, the cost of labor in your area. A common rule of thumb is to have 50% of the rent value set aside for operating expenses (management, maintenance, vacancy, turnover, etc.)

Maybe you can ask the seller to be more specific with maintenance and repair records. How many years since the last roof, how often was the furnace serviced...things like that.

Those numbers look too good to be true. Management fee of only 7% (seems low), only $500 per year in maintenance (are these brand new houses?), no CapEx provision, and no listing for vacancy.

I'm also curious about the property tax. I would assume that these taxes are based on a previous purchase price or assessed value. That is subject to increase when the property changes hands. Perhaps you could estimate a more current tax bill and see if that changes things.