All Forum Posts by: Todd Selland

Ryland Taniguchi .... Awesome explanation! I love the way you break down and explain your strategies in detail. It really helps people that are new to investing (like me) understand the thought process behind structuring a good deal. Thanks for your constant contributions!

The extent of the damage that you'll find is directly related to how long and how bad the leak is. If I were in your shoes, I would not just remove the damaged area, but also the surrounding area. Water can go anywhere so you really want to chase down the affected area to fix it right. You may have to replace framing if you find dry rot and things of that sort. After your happy with the structural integrity, spray everything with what ever mold killer you choose, let it dry, and seal it up! Fixing issues correctly always brings peace of mind. Take care and have fun!

Fixing the source of the problem is obviously priority, but I would also rip all of that out at the same time to start the dry out process asap. At that point you'll be able to see how bad it really is and you can make a better decision. You may be able to remedy the situation inexpensively just by getting some Concrobium (or another type of mold killing product) from Home Depot. Good luck!

Awesome!!! I'm so grateful to have found BP! Great job BP!

Congratulations on your success!!!

Cameron Brulotte ... I found this one a couple weeks ago as well. Look it up, you may be interested... 12705 Fremont Ave N Seattle WA. 98133

Timothy Hazlerig jr ... Welcome to BP!

Cameron Brulotte ... Obviously the numbers don't work. Investing in a rental property in Shoreline (or any other area around Seattle) will be very difficult to do for new investors like you and I. The prices are so high that finding a property that cash flows is difficult. I don't live too far from the property you're looking at. I actually drove by it and checked it out 2 weeks ago as well as another property that was on the next block. It's a nice area, but you have to figure out a way to get the price down lower or add "value" to the property to get the rent higher and at least hit the 1%. From one newbie to another... If the numbers are right, the deal is right. Good luck!

Welcome Domiano! Make sure you check out the podcasts! They are great!

Hey Ian! I live in Seattle. You know you can't go into a winter up here in the PNW with a roof that leaks. It has to be replaced. I wouldn't change the pitch of the roof. It's an unnecessary expense. Almost every commercial building that goes up now has a flat roof! With proper maintenance (like making sure the drains or scuppers or whatever you have are always clear allowing water to flow instead of stand) you should have no problems with a new flat roof. Do what you need to do to keep the cost down while making it safe and secure. Curb appeal is important, but that's something you can pick away at as your capital builds. A duplex for that price sounds like a pretty decent deal considering this area we live in. There are two duplexes sitting side by side in my neighborhood. They are run down and in need of a lot of work! They are on the market right now for 750k a piece!