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All Forum Posts by: Adah N.

Adah N. has started 29 posts and replied 284 times.

Post: Short Term Rental Bellevue WA

Adah N.Posted
  • Investor
  • Atlanta, GA
  • Posts 293
  • Votes 141

Where is your go to website to list your Rent by the Room, Short or Mid Term rental in Bellevue WA?

Post: Is it legal to put a dividing wall(s) in a SFH to rent out a portion of it?

Adah N.Posted
  • Investor
  • Atlanta, GA
  • Posts 293
  • Votes 141

@David L.

Many homes have separate in-law suites, there would be no difference between what you described and a home with an in-law suite. There should be a door connecting the two units, otherwise some lenders will label it ”non-conforming” and refuse to lend when you go to sell or buy.

However, many cities/counties have rules about unrelated guests living in a SFH. Call your city/county and ask.

Post: LLC vs Individual loan

Adah N.Posted
  • Investor
  • Atlanta, GA
  • Posts 293
  • Votes 141

@Jason Wray

Who are some portfolio lenders you know or have worked with?

Post: Are crime stats enough to justify designating an area as A, B, C, or D?

Adah N.Posted
  • Investor
  • Atlanta, GA
  • Posts 293
  • Votes 141

@Marcus Brown

Drive through the areas during the day and at night. Does it look desirable to the average home buyer or renter?

Post: Manage your property by yourself

Adah N.Posted
  • Investor
  • Atlanta, GA
  • Posts 293
  • Votes 141

@Eliott Elias

I think a good PM is a needle in a haystack.

I am watching the property next door that came up for rent. Has been sitting for 3 months, no photos, no meaningful description that would make a renter go for it, initially overpriced and reduced twice already. You guessed it, it was listed by a lame duck PM. Another one on same street came up for rent, colorful description and photos, listed by owner, rented within a month.

I use Avail, I am in state though. I have yet to go to my properties for maintenance issues. I just send the plumber or HVAC contractor or handyman etc.

Avail will cross post your rental ad across major websites(Zillow is king for my area). It also handles screening, lease signing, rent collection and maintenance requests.

Post: 5 unit apartment building

Adah N.Posted
  • Investor
  • Atlanta, GA
  • Posts 293
  • Votes 141
Quote from @Anthony Cortello:

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $550,000
Cash invested: $55,000

5 unit apartment complex

What made you interested in investing in this type of deal?

the neighborhood is very good

How did you find this deal and how did you negotiate it?

through real estate networking

How did you finance this deal?

Bond for Deed

How did you add value to the deal?

Bringing rents up to market average

What was the outcome?

Been going very well so far

Lessons learned? Challenges?

have to be more direct with more tenants living close to each other

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

yes

Congratulations!

Post: Should I go to College?

Adah N.Posted
  • Investor
  • Atlanta, GA
  • Posts 293
  • Votes 141

@Luke Westmoreland

Go to college, no one regrets going to college except the ones who partied and drank the whole time. Perhaps one related to RE. And you can be involved in real estate while in college.

Post: buying duplex in Atlanta area

Adah N.Posted
  • Investor
  • Atlanta, GA
  • Posts 293
  • Votes 141
Quote from @Adah N.:
Quote from @Doug Davis:
Quote from @Michael Dumler:

@Doug Davis, here's an example we're all referring to, link. Talk about a sweet house hack deal. 


Ok thanks.  I see it says this: "Basement has 2 separate apartments; one studio and one 2 bedroom"

To make sure I understand, does this mean that this has three units?  The main one and two in the basement?  

I'm not sure if I would know how to look for something like this.  A Realtor may know, but I would like to be able to find them myself as well.


 Be careful with "basement apartments". It will be a hard sell for quality renters if the "bedrooms" and living area do not have windows, walls are too low or it overall feels dingy. Also, different counties and cities have different rules for house hacking. For example in Dekalb you must live in one of the units. Others have regulation and limits on how many people can live in it. 


*in Dekalb homeowner has to live in main house or ADU or basement apartment as their primary resident.

Post: buying duplex in Atlanta area

Adah N.Posted
  • Investor
  • Atlanta, GA
  • Posts 293
  • Votes 141
Quote from @Doug Davis:
Quote from @Michael Dumler:

@Doug Davis, here's an example we're all referring to, link. Talk about a sweet house hack deal. 


Ok thanks.  I see it says this: "Basement has 2 separate apartments; one studio and one 2 bedroom"

To make sure I understand, does this mean that this has three units?  The main one and two in the basement?  

I'm not sure if I would know how to look for something like this.  A Realtor may know, but I would like to be able to find them myself as well.


 Be careful with "basement apartments". It will be a hard sell for quality renters if the "bedrooms" and living area do not have windows, walls are too low or it overall feels dingy. Also, different counties and cities have different rules for house hacking. For example in Dekalb you must live in one of the units. Others have regulation and limits on how many people can live in it. 

Post: Rentometer alternatives? What do you recommend?

Adah N.Posted
  • Investor
  • Atlanta, GA
  • Posts 293
  • Votes 141

@Javier Perez

Zillow. Look up properties on same street and streets in neighborhood. You get actual rent data, many times with photos to see condition of property.