All Forum Posts by: Tri Ly

Why not taking the original cash price and appreciation as well? Is it because of the required downpayment or avoiding PMI? Also, when finance that cash out, do you eventually pay interest on 2 loan now (first property mortgage and the equity cash loan)? Thanks for your reaponse!

I read a lot of buy and hold strategy here that first, you buy a property then rent out. Then take out the equity in the property to buy another. My question is: when you take equity out of your 1st property, do banks allow you to take all of it? Or minus the downpayment (since 20% is the limit for PMI) what is the max percentage of equity in your experience. What is the method (Heloc, home equity loan etc)? Thanks.

Anyone in the Seattle area know of a good handy man to do some hardwood floor installation? I have a small area of carpeted stair that need to be ripped and installed with hardwood. I can handle the flat floor DYI but stairs require some special tools and craftsmanship. Maybe a carpenter? Thanks

Thanks, I am not trying to skirt the permit :) just curious. Im doing a re roof for my property and seems like my HOA is demanding on the type of roof they want to see (40 years, 360lbs per sq etc). But they are fast ans easy to approve one you get it right. Also, how often that you have to get the "resale certificate", what is it essentially?

Hi, Just wonder how many percent of the flippers here apply for HOA permit? I understand some HOA is very strict and some other community are not, but is this something you think about first when start doing reno on your property and its effect on the reno options? Thanks Tri

Hi Jennifer, Greeting from Seattle, How often do you do new construction and how has it worked out for you compared to flip / remodel? I understand you do high end houses, i would love to know your stories. Thanks. Tri

Originally posted by @Michele Fischer:

Tri,

We are in the Longview/Kelso area, an hour north of Portland and two hours south of Seattle, on the Columbia river.

We have three duplexes, the nicer one does far better.  My husband is out right now trying to collect the last rent payment from the lowest end one.

Cheers.

From what you said, seems like you guys dont live in these properties. Would you mind me asking what is your method of financing? And how does loan for primary residence is easier than otherwise?

Thanks

Tri

Originally posted by @Michele Fischer:

Tri, welcome to BiggerPockets from a few hours south!  

I am so jealous that you can look at a house and see how it can be redesigned to make it better.  My husband and I have stuck with properties that don't need extensive changes.  

Of Dimitry's suggestions, the key word alerts are a great way to stay involved on the site!  Set up locations and topics that interest you.

 Thanks Michelle,

Where are you located and how is it going with the duplex investment?

Originally posted by @Tim Holmes:

Welcome to BP. I'm in Tacoma so it's good to have more locals. I spent this weekend drawing my next house. May need your review and stamp if I decide to go with it.

 Tim,

I am still in the process if licensing. Would love to look at your house design when you have it though. 

Tri

Hi all,

Just wanted to introduce myself. Seattle area residence here.

I'm Tri Ly. My profession is architecture (residential) and it is my passion. I love designing single family houses either remodeling or new construction. I am in my early stage of my career and would like to be well informed in things related to RE.  

My goal is to have a design build business so that I can create nice design, construct it and also get profit from what I do. Being an architect, I think this would give me some leverage (at least in the design fees :) )

I do not have much experience but I bought my 1st house in WA last year so I feel I have a bit of my feet wet into RE. I has subleased a lot of my previous apartments for a while, I guess it helped with some landlord experience. I love looking through the MLS listings and read all the stories about investment property, flipping, remodeling and the business behind it. This community has got some amazing stories.

Looking forward to learn from all of you.

Tri