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All Forum Posts by: Suzie Remilien

Suzie Remilien has started 11 posts and replied 141 times.

Post: interviewing property managers/ companies

Suzie RemilienPosted
  • Rental Property Investor
  • Seattle, WA
  • Posts 149
  • Votes 58

@Jason Thompson This previous post/podcast may be of help:

https://www.biggerpockets.com/...

Ask about tenant requirements for screening and for a few referrals AND call the referrals.

Post: What goes into closing costs

Suzie RemilienPosted
  • Rental Property Investor
  • Seattle, WA
  • Posts 149
  • Votes 58

@Max Lichtenstein Closing costs are typically 2-5% of purchase price. 

Seller costs = can include realtor fees for seller and buyer's agents, attorney fees, transfer taxes, owner's title insurance, prorated property taxes and HOA fees if applicable

Buyer costs = origination/processing fees to lender, escrow fees, prepaid taxes & insurance, appraisal, lender's title insurance, home inspection, survey fee (if applicable) prorated taxes and inspection fees.

For the $500,000 purchase, you would be looking at approximately $10,000-$25,000 in closing costs. A credit from the seller can help reduce closing costs.

Post: Qualify for a mortgage?

Suzie RemilienPosted
  • Rental Property Investor
  • Seattle, WA
  • Posts 149
  • Votes 58

Agree with @Stephanie Medellin. It would be best if you could get current employer to issue you a weekly paycheck and yearly W2s to document that income. A 2-year work history in the same field would also go a long way toward getting you pre-approved for a traditional loan. 

Post: Agent/PM Needed for Leasing Only - Seattle Apartment Buildings

Suzie RemilienPosted
  • Rental Property Investor
  • Seattle, WA
  • Posts 149
  • Votes 58

@Adrian Chu and @Daniel Alhadeff Thank you both for the replies. I have sent private messages.

Post: Agent/PM Needed for Leasing Only - Seattle Apartment Buildings

Suzie RemilienPosted
  • Rental Property Investor
  • Seattle, WA
  • Posts 149
  • Votes 58

The owners have been self managing for decades, but are now looking for someone to lease 2 apartment buildings --  an 8-unit in Queen Anne and an 11-unit in Magnolia -- so they have the time to travel. They want to continue to handle maintenance, repairs, and bills themselves. Please send me a PM if interested.

Post: OOS Investor Seeking to Network during 9/3/21-9/5/21 Indy Visit

Suzie RemilienPosted
  • Rental Property Investor
  • Seattle, WA
  • Posts 149
  • Votes 58

I'm an out of state buy and hold investor seeking to purchase 3 units (most likely duplex & SFR) in Indianapolis within the next 6 months. Plan to focus on B/C class neighborhoods inside the 465 loop. I will be visiting Indianapolis to check out neighborhoods (I hear it's street by street) and to meet key members of my investment team. I would really like a chance to meet with other investors as well, but the REI meetings are scheduled for later in the month. If anyone is interested in meeting, please send me a PM.

Post: Networking meetup? Who's interested

Suzie RemilienPosted
  • Rental Property Investor
  • Seattle, WA
  • Posts 149
  • Votes 58

Hello, I am in out of state investor scheduled to visit Indy weekend of 9/3-9/5. I would love to meet with a group or just one investor that weekend. Let me know if anyone is interested.

Post: New to Real Estate Investing from Corpus Christi, TX

Suzie RemilienPosted
  • Rental Property Investor
  • Seattle, WA
  • Posts 149
  • Votes 58

@Thomas B. Great plan! I like that the TSP funds at that supper low rate give you the flexibility to make cash offers or just cover the down payment. Keep us updated.

Post: New to Real Estate Investing from Corpus Christi, TX

Suzie RemilienPosted
  • Rental Property Investor
  • Seattle, WA
  • Posts 149
  • Votes 58

@Thomas B. Congratulations on coming out of the sidelines and writing your first BP Post. Using the BRRR might be a way for you to reach your goal of replacing your $5K income in 10 years. Others here may have a different opinion.

Since you are already looking at properties, I assume you have access to cash for purchases and have at least two lenders on tap. If not, talk to a few lenders in your area to get preapproved ASAP.

Consider posting specific questions in the Local Real Estate Networking forum (drill down to the Texas subforums) to find recommendations for realtors, contractors, and property managers if you don't have these partners yet. 

Good luck!

Post: Buying my 1st investment property in Jacksonville, FL

Suzie RemilienPosted
  • Rental Property Investor
  • Seattle, WA
  • Posts 149
  • Votes 58

@Molly Rivera I started to look into Springfield, Missouri as a possibility but I've put it on hold. I started a career as a mortgage loan officer, and that has taken all of my time. I would still prefer to invest in Jacksonville because I have a few contacts there, but the lack of volume is still an issue. In your case, your local knowledge gives you a great advantage in Michigan, so I would definitely look there. But it doesn't have to be one or the other. You could invest in both markets!