All Forum Posts by: Stephen Schaefer

I believe its the same lot. I'm waiting to hear back from an agent. So I guess now I need to look into commercial. Thanks for the info!

I'm looking at a single purchase 3-separate home property, currently used as nightly rentals in a touristy town. One house has 2 units, another has 3, and I'm not sure about the third, but I'm assuming the owner lives in, as I would be.

Its listed on VBRO, and is actively rented out, of course summer season is high, but according to their prices listed on VBRO, summer could net $30k just renting weekends (or any three consecutive nights).

How would a lender see this? My wife and I own our home, and we're both veterans, our current home is on her VA, and selling our home could be a pain as we've only owned it a year and some change. My VA home loan is clear and ready, but I just started working again, and my credit isn't great as we focused on hers to buy our home.

Its a great opportunity, and I'd hate to miss this chance. I'm not sure if a lender would see this as a 'job' as far as my credit/lending is concerned. I guess is my question. For the location, any one of these houses could be the price of what all three are selling for as a whole.

So I'm bringing this back up, because there's not a lot of talk about Ocean Shores.

@Sarah Becker Did you figure anything out about this area?

My wife and I want to move back to WA, specifically the Ocean Shores area, it may include up the coast to MoClips, or Grays Harbor/Aberdeen to start, but definitely that area. The reasons why not to invest, is in part a reason why I personally want to live up there. It won't grow! Tired of people lol. 

But, the market is super cheap, I've been looking at cheap houses in Aberdeen, cheap Ocean Shores houses, could be good seasonal rentals in the VRBO market. And if there is not a good selection of property managers, well this may be good news for someone who is interested in filling that void.

I'm getting read to sell here and move up that way. But the plan is to rent for 6mo or so to scope it out. Yup, I miss the 9mo drizzle, the cool temps, and the most perfect 3 summer months anywhere.

Running out of hot water with a 30 gallon tank and a 1/1 with one actual tenant, that's on her if she decides to let her BF/Guest shower first. We have a 40 gallon with two adults and 2 kids and we make it work just fine in the mornings.

If you turn the tank up, add an amendment in your paperwork stating the temp is set higher (per her request), the dangers involved, and have her sign. Just to cover your rear.

You can absolutely swap the handles and valve stems. These old fixtures are meant to be fixed, not replaced like the junk you buy today.

And I whole heartily agree, big box store employees don't know anything more than you, they just 'work here'.

Plumbing fixtures is one of the things I no longer buy at Lowes. I spend the coin and go to a real plumbing supply store. The quality is immensely better, and if I pull a valve stem out of a fixture and show the guy at the counter, 9/10 he knows who makes it and the part to replace it without even reading the numbers stamped on it. The place I go to in my town is where plumbers/contractors go, and have accounts. Try to find a place like that.

hah, well that is why buy and holds are popular. In our unknown future, we don't know what the job market will be, and whether or not people will be able to afford to buy a home. But we all have to live somewhere, even if you're renting. Population is only going up.

 I bet someone does make something like that. A month ago we went on vacation and stayed at a condo, their thermostat was connected to their smart phone. But something cheaper/simpler. Bet someone does make a lockable thermostat where perhaps a password is required to turn it below a certain temp, or something.

Sounds like you're stuck. Pipes don't just burst under normal use, they can leak. Your local weather says 31 with a low of 24 tonight. Sounds like they were gone and turned the heat off. Came home, turned it back up, noticed the leak, and turned it back down so it didn't kick on. Wild guess. Even then, with the heat all the way off, it'd take a day or two for the inside temps to drop to below freezing. Even though freezing is 32, generally pipes won't even burst unless its more near 20 degrees, and more importantly, over time. I wonder if they were gone for quite a few days.

If I had to take a guess, they were gone for a few days with the heat off. I mean, why else would it be off? Sure, perhaps turn it down 8 hours while at work, but not off. They probably just flicked it down (or off button) while walking out the door. But ya, how can you prove it.

I don't think automation is a sign of something bad. As far as loosing jobs to automation, I think its a 'negative trend' right now, while we're going through a change, most change can be difficult. 

Here's one example. Once there were men delivering ice to homes for their ice box to preserve food. Then came refrigerators and freezers. Those men lost their jobs to this new technology, but was replaced by men who had to design and build refrigerators. Automation can or will or does replace those workers who build those refrigerators, but does not replace the designers. New men have to build and create, and program the robots who build these refrigerators. And with the wave of tech, now new men build, create, and program the computer screens and software on these new computer/LCD screen refrigerators.

We're losing our factory laborers, either by automation, or overseas. But we are also replacing them with IT related jobs that never existed. Moving from the industrial age to the information age. That's our mellinials. No different than moving from an agrarian age, to the industrial age around the turn of the 20th century.

And per the article, not trusting ads or media. Well of course not. Does anyone? I'd rather trust a complete stranger giving their opinion on a blog with no agenda. Than watching an anchorman/news agency relay the bits and pieces of a story they choose, to to push people into believing what they want them to believe.

I'm sure this varies a lot by geography. I'm willing to bet the majority of home purchases in my town is people in their 30s. I guess technically that's an approximate range for millennials. (I'm one, turned 18 in 2003). Nearly everyone my age I know, or friend of friends, etc. Has made their first home purchase in roughly the last 2 years. I've bought 2.

But my area here is more trade related than careers requiring formal 4 year education, so little to no student debt. We weren't affected by the market in 2007, nor our 'recession', basically too young to have acquired too much debt overall, and now on the path with steady careers. That is the trend I'm seeing HERE.

That being said, its all the more reason I'm trying to flip in my town. 30'ish year olds are buying. They not choosing cheap fixer uppers because they have no savings to renovate, but their income and steady job and fair credit can provide them with a nice home. Therefore, they're buying nearly the best they can afford. I also notice the trend in our generation (and esp. younger) with their 'entitlist' complex, thinking they deserve better, and want it 'right now). Mix that with the recent low interest rates, great time for a first time home buyer, and relative cheap housing market, and low cost of living in this area.