All Forum Posts by: Tim Wade

Hi Whitney (and Maire and Mike),

I may be moving up to Portland soon from McMinnville.  My wife and I run a few vacation rentals and I too am an agent.

Welcome to BP - it's a pretty powerful platform.  I'm sure you will get a lot out of it!

Who do you work for in Portland?  And do you like working there?

Cheers,

Tim

Dear Portland and OR Investors,

I just cleared a 3 month process in getting squatters out of a home purchase on Auction.com.  As one can imagine, the place is really really rough (like dog **** in the kitchen and trash everywhere rough).

I'm looking into Professional Cleanout services and wondered if anyone had a recommendation?

I also wouldn't mind an tips on how to vet and work with a cleanup company if anyone has something to offer!

Thanks all,

Tim

@Paul Bowers

Thanks, Paul.  We'll be up there the week of Sept 17 but leaving Wednesday morning.

Do you have any recommendations for agents around the south of the lakes?  Or a good agency we should look into?

Cheers,

Tim

Greetings BP!

I'm making a trip to Watkins Glen next week and I'm looking to connect with any Real Estate agents or investors there or in that area.

Any recommendations?

Cheers,

Tim

Hello BP!

I recently discovered Sandwich Leases as a way to ramp up my inventory for my vacation rental business.  Sounds super efficient and interesting.

Anyone have experience doing this?

@Brandon Turner any chance you sell these templates in the "Lease Templates for all states" packages you recently put out.

Any advice on this much welcomed!  Any owners interested in partnering on this or getting properties on airbnb, happy to talk about that too!

Cheers

Tim

BACKGROUND:

I've just won my first auction on Auction.com.  The bank has approved my winning bid and the contracts are all signed.

The house went through Judicial foreclosure in May of 2017.  The redemption period ended in November 2017.

I'm working now to get ready to evict and I want to make sure I follow all the right steps.

My first step is to talk to a few attorneys but I would really like to to work this out myself.  I know there is increased risk but I learn by doing and I've also got a very high risk tolerance.

QUESTIONS:

In order to be in compliance with local law, is the sheriff's office the best place to start?

If not, which office would be the best place to call and learn about the proper notification and eviction process?

Lastly, what is the best way to confirm that judicial foreclosure was finalized properly and get access to those records?  Should I work through my title agent for that?

Thanks for any and all thoughts!

Best,

Tim

GREETINGS ALL!

My wife and I are just starting out on our real estate investing adventure.  We bought our first investment property last year and renting on Airbnb has been working out better than projected.  We now want to get serious.  We are ready to grow and expand our portfolio asap.

(here is the link to our place if you're interested: https://www.airbnb.com/rooms/17591580?preview_for_...)

Anyway, would anyone be able to recommend a good CPA for us?  Listening to @Brandon Turner we've realized we need to set ourselves up right from the beginning!

Also, we are digging into lenders.  We're meeting with Pacific Crest Bank and Sound Community Bank next week.  Has anyone worked with them?  And are there other banks or private parties we should be talking to?

Thanks all!  Very excited to be a part of the community!

Cheers,

Tim

@Arissa Pedroza

AWESOME!  Thanks for the reply.  Could I dig a little into a few of your suggestions?

Water. I'm assuming I'll charge utilities, but are you referring to some other sort of water provision?

Admin fee.  Probably market dependent but any suggestion on a reasonable amount?

Pet rent vs fee - how are these different?

THANKS!

Hello BP Community,

I'm working my way through the "9 steps to own a rental property" video series and I've purchased one house already (I know, reverse order).

The question I'm now thinking on is "alternative or supplemental income".  I never thought of this until the video on income but now I'm curious if the community has stumbled on any good/reliable additional income streams to couple with a rental property.

I've come up with laundry and parking (assuming you buy a place with extra spaces and are urban enough that these are valuable) but what else are people doing out there?

Thanks for any comments or ideas! 

Cheers

Tim