All Forum Posts by: Rafael Ortiz

@Stephanie Howell I currently live in White Salmon, and have recently started investing in the Columbia River Gorge area.

It is a very tricky market, I will tell you that. Prices are very high, inventory is super low. I would think the Dalles is where you should be able to find better opportunities. In the past couple of years I have looked into a couple different duplexes in that market that should cash flow, just off the MLS. I personally prefer the Washington side though, as there is no state income tax, so effectively that's a 10% discount off the bat. 

I guess it all depends on your specific situation, and how much headaches you’re dealing to put up with. I could help you with a couple good investment-savvy brokers I know in the area. Let me know if that could help.

OK here is a cool hack that I just figured out if you have a renovation going during the next few months. AMEX just came out with a cool promotion – if you open a new platinum card, you will get 10X points in grocery stores for the next six months up to $15k. So you go to your grocery store and buy $15K worth of Home Depot/Lowe’s gift cards. Then you pay for materials with those cards. You are effectively getting a 10% discount, in the form of points.

A more advanced move, for any points nerds out there like me, you can also open a platinum Schwab card along with an investment account. This one lets you transfer points 1.25X to your investment account 🤓. So you’re saving $1875. You’re welcome 😜

@Zach Quick yup i own a small storage facility and about to start managing 2 other ones.

Thx for the tips!

@Steve Morris thx for all the beta Steve. Yeah i think looking for prop management business setup is gonna be the one to find!

@Sarah Brown thats a great pointer Sarah! Just found someone and am sending them my current lease to get bomb-proofed 💪🏼

@Kim Martin thx!!

Morning!

I am very excited, cz I recently had a great opportunity to start managing my friends/mentor portfolio (55 residential + 100 self storage doors). I own and manage a storage facility and 2 residential doors of my own. All in the state of Washington.

I’m trying to find advice to set off into this new journey correctly.

Do I need to get my real estate license?

Do i need to get a property management license?

What are consequences to not having one?

Also need someone that can help work on a solid lease for storage + guide me through storage eviction.

Any good Washington RE savy lawyers out there, or recommendations?

i own a rental house on a septic and i just had the tenants sign a septic addendum (look it up, you should be able to find one online). Just basically states that they can't flush anything but waste down the wc. If the system fails, they have to cover the fixing costs. That should make them think twice when flushing down paper and other things.

Thanks for the input! What are other good storage management solutions?

@Lance Langenhoven already researching SiteLink. Did you also look into storage specific software? I've looked into Easy Storage Solutions that integrates website, platform and payments.

Hey guys,

I am looking for advice regarding payment automatization vs old school checks. Here is the story.

I recently acquired a small storage facility (34 units) in Carson, WA (40 mins from Portland). It has been working great, with minimum vacancy. 

The old owner is a great real estate investor that owns other storage facilities, but had it setup so that tenants mail their checks for rent every month. Its 2020, this system feels like from 1980, and I keep trying to figure out why he wouldn't set it up on an automated platform where you don't have to be depositing 34 checks every month, and messaging numerous tenants to remind them their payment is due. He obviously doesn't loose the 3% of credit card charges this way, and also there are the late fees, that at $25 add up nicely. 

On the other hand, I truly believe in a positive costumer experience. Automatizing payments, getting people to sign up for auto-pay would make both mine and the tenants life easier. In the end, every month they have to mail a check, its a reminder that money is coming out of their pocket. By making this easier for them, costumers will probably stay longer. And I'll have more time and brain power to find new deals.

What are your guys' thoughts?

Thx,

Rafa