All Forum Posts by: Adrian Chu

@Adrian Chu Is the DADU accessible from the back of the lot or is there an easement across the lot of the original home? If choosing to sell the DADU, did you split the lot or is this wrapped into condo-izing the home and DADU?

Have you guys gotten any deals sending direct mail? How has that worked out?

I am wondering what a fair deduction would be from rent due to there being basically no kitchen in a 1br attached mil set up. It has the tiniest sink virtually no cupboard space a toaster oven sized toaster/convection oven a small microwave and an electric skillet but no hotplate or stove type setup. Kitchen is basically useless and cannot wash dishes in the tiny sink. The sink is the size you would find in a hotel room and is smaller than an RV sink. Basically useless. It has private entrance but is attached to house and is not private really so it is basically a glorified room for rent with a living room. The homeowners use the back entrance to their home rather than their front door which is right next to my front door entrance and comes in directly in front of my bedroom which is noisy my front window is where they park their cars so coming and going in front of my  nice big bay window. Anyhow, my question is that I'm am curious what a fair reduction in rent would be for lack of kitchen the home is on a one acre lot so is better than an apartment complex but the lack of kitchen is a huge discomfort and almost outweighs the property set up especially due to the lack of privacy and the entrance and noise right outside my bedroom door. I'm curious what a reasonable rent deduct would be for the kitchen issue as I don't want to be unfair to either the landlords or myself. This is located in oak harbor WA on Whidbey Island if that is pertinent for calculating a deduction just a general idea would give me a huge help at least would be a starting point the rent is higher than a lot of similar apartments however as I stated it's on property but the lack of kitchen almost cancels out the benefit of the setting. Thank you for any help at all even if it's a roundabout figure I would be very grateful for any input.  Please pardon my "verbose - ness" lol 

warmest regards 

shannon 

Hello everyone!

My wife and I purchased a home in the Seattle area back in 2018. It's a single family home that we were able to refi into a 3% interest rate. 

Since then we have moved out of the area and been renting it out for the past few years.

We are slightly negative on cashflow, about $100 a month or so when you account for a 3rd party property management service and expected repairs etc.

Our challenge here is the home is old. The foundation has cracks and the driveway needs to be redone. We have had a Strctural Engineer out to the property and while we don't need to conduct repairs within the next 5 years or so, we will need to address both of these things at some point and it will likely cost us about 100k.

Any advice on selling or holding for the long term?

We always thought we would hold this property as long as we can, and cashflow is not really an issue but thinking about dropping 100k on repairs for a property that is cashflow neutral at best gives me major heartburn. 

The home has a great location and has appreciated even with interest rates coming back up, but is certainly not valued as high as it once was.

Thanks for your thoughts/advice in advance!