All Forum Posts by: Thuan Nguyen

We have submitted the insurance claim and awaiting for approval. The business is losing money each day without a functional office. We want to get the renovation start immediately. The question is who would cover the cost if the insurance claim comes back less than the cost of renovation?

Thank you for the respond. I will look into the fine print of the lease contract. Our office manager argued that all the proposed repair such as drywall, floor, paints, doors, windows, thermal and moisture protection treatment, etc are part of the tenant responsibility.

Tenants are responsible for property taxes, insurance on the building, and common area and maintenance costs under triple net lease. We are renting one of the units in a office building. One of the restroom water pipes broke over the weekend and flooded the whole office that would need a major renovation. The contractor estimate for the cost to repair the damage is approximately 93k. Which such a large expense, does the tenant still responsible for the repair as part of the maintenance cost under triple net lease or is this consider as catastrophe/crisis and it would fall under the landlord responsibility?

This is more of an ejectment case, rather than eviction. How was your experience in working with attorneys in general? I have found a local attorney who is willing to handle the case but difficult to get a hold of. He seems very busy and maybe slow/lack of communication to keep client in the loop. Is this common practice when you're working with an attorney?

Thanks for the guidance. I will reach out to them.

Can anyone recommend an attorney who can handle eviction/ejectment of squatters in Lacey-Olympia, WA area? How much is the whole process normally cost?

Any thoughts/advice would be appreciated. I recently won the bid for a single family home through the county tax sales in Washington state for the first time. The property is currently occupied. What is the appropriate steps to take to secure the property? Should I approach the occupant to work something out immediately or wait until I have received the deed from the county? I plan on using it as long term rental so is getting a suit to quiet title make any sense at this point? 

@Nathan Gesner Yes, agreed with the market I'm in is too expensive. Price increased to 20+ percent in the past year. I was hoping to start with the local market but the numbers don't add up with current high price. It sounds like out of state is the way to go.

@Trevor Fleck Thank you for the insightful response. It was very helpful. I started talking to a few lenders who offer variable rate between 3-5%. The best offer that I got so far from Costco referral through VA loan with 2.99% rate, around $1400/month mortgage with 2.3% funding fee. Expecting switch to rental with cash flow when we move on to another residence. I will have to read up more on long distance RE investing. Though my current job doesn't allow much room for traveling. I welcome for more suggestion :). For now, will start with Long-Distance Real Estate Investing by David Greene.

Hello BB gurus, I have been reading and absorbing as much as I can into this real estate investing since my primary residence purchase 2 years ago. I live in the Pacific Northwest region with median home price around $480k. I am interested in the BRRRR strategy, but currently not in a cash position to start. It would take a few more years to save enough cash (~300k) to start this strategy (per BRRRR by David Greene). With the current market volatility and future rise in interest rate, should I do a cash-out refinance of the primary residence to lock in low interest rate and purchase my first investment property to get my feet wet through the traditional way? Or wait until I have enough cash to start the BRRRR strategy? Your inputs will be greatly appreciated.