All Forum Posts by: Sherief Elbassuoni

@Kristine Thompson, if the association has healthy reserves, and proper insurance, and you have documentation in writing that HOA addressed the issue, you should be good.

If no propert documentaiton that issue is addressed, contact HOA in writing and ask them to provide more documents/photos that issue got fixed

3 Votes

Seattle, Washington

Quote from @Aleksandr Shmidt:

There are all these run-down houses in the King County area. Many of them are in a great location. However, most of them want $1M for it but the only valuable thing on them is the land.

Would anyone like to have a discussion on this? So we can all agree to the value of property in the outskirts of Seattle/Bellevue/Bothell/Lynnwood area?

Much appreciated!

All the best,

Alex

Primarely because what can be built on the lot, and the After Repair value.

In King County, We do not have a ton of place for horizonatal expansion compared to other counties.

In some cities of King county, deman is also pretty high because of good schools.

3 Votes

Seattle, Washington

Quote from @Rosa Le:

Hello,

Could anyone recommend a source for commercial lease agreements in Seattle, WA? I am assisting my elderly parents with their paperwork and I realized the commercial lease agreement they have be reusing as a template (drawn up by an attorney) is over 10-15 years old. They have details such as an annual 5% increase and a section that requires a notary. I would love some commercial templates online from sources that update their documents regularly OR a referral to any specific attorney or firm that is good and fair to their clients.

I really appreciate any contributions to my inquiry. Thank you in advance!

@Rosa Le,

You will need to ask a commercial attorney to draft a new one for you.

4 Votes

Seattle, Washington

@Breanna Gastaldi,

You are doing the right thing building your network for contractors.

This is important since whenever you want to start your project, your preferred contractor may be booked out, and you need to have a backup plan.

You also need to take different itemized quotes from 2-3 contractors.

Feel free to reach out anytime if you have questions!

4 Votes

Seattle, Washington

Quote from @Willie Creear III:

I currently own a Mid-Term rental located in Greater Seattle. One of the strategies I picked up early to utilize was renting by the room. Through trial & error I have learned how to support this specific rental strategy but it can take a bit more attention for those who self-manage.

Although I love the concept, I do want to explore with other strategies as I expand my residential portfolio. What has been some of the best strategies for your Rent By Room? How do you support your tenants with operations and techniques that helps you be successful? Is there specific layout of properties that help you be successful instead of forcing the issue on any property?

IG: @MattPriestJr

I have properties that I rent by the room in King/Pierce/Snohomish Counties.

Many pro tips.

For heating, I use Nest Thermostat and "lock" the temperature on 68 degrees.

I set up rules for cleaning dishes

I set up rules for quite hours

i set up rules for having guests/friends to visit

5 Votes

Seattle, Washington

Quote from @Saurabha Jirgi:

Hey, I have 2 rooms in my 4 bedroom home that I plan on putting up on airbnb. I will be living in the same property.

Does anyone know the occupancy rate I can expect in the Ballard Seattle area? Also any tips on setting up my first airbnb?

The City limit is 8 unrelated tenants.

Reach out if you have any other questions

3 Votes

Seattle, Washington

@Aleksandr Shmidt, either try the free version of public/county/... records, or skip trace the address

3 Votes

Seattle, Washington

@Ryan K.,

I helped tens of clients house hack their home.

House hack is a great way to offset mortgage in year 1, then cash flow once you move out to your next house hack

Reach out anytime wiht any questions!

4 Votes

Seattle, Washington

@Daniel Dylan, Bellevue has been appreciating a lot the past years. The appreciation trend is expected to keep going in future years becuase of high demand, good schools, and Tech buyers.

I will keep the properties for now as rentals and do same equite calculations in 1-3 years

3 Votes

Seattle, Washington

All Forum Posts by: Sherief Elbassuoni

Sherief Elbassuoni has started 15 posts and replied 851 times.

Post: Seattle seller finance/subto attorneys

Post: First investment condo; HOA considering construction lawsuit

Post: Can anyone share their thoughts on value of land in King County?

Post: Commercial Lease Agreement

Post: Looking for contractors in Seattle

Post: Mid-Term Rental Strategy: Rent By Room

Post: Airbnb rooms in the Ballard Seattle area

Post: Found a house I want to buy but can't find the OWNER!!! Please help

Post: House Hacking Couple Looking to Connect in Seattle

Post: Sell or rent? Seeking input