All Forum Posts by: Adrian Chu

I am seeking advice on how to proceed with a prospective tenant who has a section 8 voucher. As a first-time landlord, I'm unfamiliar with the process and would appreciate any insights or tips you can share regarding renting to tenants with vouchers.

Thanks 

Candi

Hi, I live in a close-in Seattle neighborhood: Ballard 98107 in a two bedroom home that Zillow values between 8-something K to 9K. I've always been told you must sell in the spring. I suppose that means April May June. Is it really that big of a deal if I have to delay it it and sell in July or August? I will lose a significant amount? This is a neighborhood where houses go quickly. Because of "life stuff" I just may not be ready immediately. It's May 21 as I write this. Any advice / opinion appreciated.

Hi, I live in a close-in Seattle neighborhood: Ballard 98107 in a two bedroom home that Zillow values between 8-something K to 9K. I've always been told you must sell in the spring. I suppose that means April May June. Is it really that big of a deal if I have to delay it it and sell in July or August? I will lose a significant amount? This is a neighborhood where houses go quickly. Because of "life stuff" I just may not be ready immediately. It's May 21 as I write this. Any advice / opinion appreciated.

Hi BP,

I’ve got a mixed use property I’m looking at that has zero Comps. Because it’s commercial on the bottom and mixed use on top, I’ve got nothing to compare it to. Any tips?

Thanks

Hi All, We are doing a home remodeling project, and our GC has done a poor job. When we called it out, he became rude and stopped responding to our message. I hired someone else to work on the project, and I am okay with paying him in full and just moving on to the next project.

I have already paid him ~300k, and ~40k of the last payment is remaining. I have asked for a lien waiver (the Property is in WA state), and he is not responding to me. I told him I would pay him in full if he provide a lien waiver,

I am wondering if we do not get a lien waiver, what are the options I have to get it, do I need to hire lawyer?

Hi, everyone 

I am new to the forums, but I’ve been listening to the podcasts for a few years now. I’m not at a point where I can start real estate yet, but I’m interested in learning so that when I get the opportunity, I’m ready. I’m excited to get to know everybody

Hello, Bigger Pockets! First timer here. I have bought single family owner occupied unit in seattle NR3 zoning(residential single family up to 2 ADUs allowed). 

I have 2 story house with the basement. 3/1 with opportunity to add second bathroom on the second floor.  

I am exploring the idea of removing the stairs in the main house to the 2 floor and stairs to the basement to convert the 2nd story to a separate unit(add stairs outside) and convert the basement(cut egress door). 

It seems like a very sophisticated project, but doable. I have around 150-200k.

Should I convert 2nd story unit to ADU or convert the house to the multifamily? What is the difference? What are pros and cons?

With the basement its a bit trickier. Height of the ceiling without floor is 6’ 10. It has some cracks on the floor and slight slope. To make it legal adu I need at least 7 feet of ceilings. House built in 1925, are there any grandpa low to make it legal with the current height without digging-out basement? Should I take a rout of a non-confirmed unit? What are the legal problem I can face by renting non-confirmed unit? Is it worth to dig-out 0.5 - 1 feet of the basement to make it confirmed? 

Where should I start? Architect(seems very expensive) or architectural designer will be enough? Or any other expertise could be consulted to start this project ?

I am new to the real estate business and this country, thats why I really appreciate any guidence here.

Thank you in advance folks!

for some reason I can't go back and edit the post title... 

Hi all,

I just met with a real estate broker and they let me know that in Washington the buyer is technically responsible for paying the buyers broker commission upon closing. He told me that he always gets the seller to pay though. 

Is this a Washington thing or am I not understanding correctly? I thought the seller and buyers broker split the commission.

I've tried several, they say not interested

Hey, this is my first time posting here, and I'm really hoping to get some advice.

I hold an MBA and work for a tech company in the Seattle area. I've been into real estate investing since 2015 and currently own four properties, three of which I rent out. Recently, I passed the broker exams, and I'm pondering what to do next. I haven't fully mapped out my plan for the license yet. It was relatively easy for me to pass the exams, but figuring out the next best course of action seems to be the hardest part.

While I have a decent salary at FAANG, I'm still quite a ways from achieving Financial Independence, Retire Early (FIRE) goals, especially with two young children to raise. So, I'm considering real estate as a side gig until one day it surpass my current full time job income. I want to make the most of my license without jeopardizing my current career. My primary interest lies in the commercial real estate sector, given my finance and data analytical background. However, I'm struggling to figure out how to break into commercial real estate as a part-time newbie agent. It seems like I could really benefit from a mentor, but I'm not sure where to find one who'd be willing to teach me while I help with their transactions in return. I do not mind my mentor taking a bigger split as long as I can tag along and learn from every transaction. 

I should also mention that I'm bilingual, which might be an asset in the real estate world. Additionally, I'm interested in buying and selling a couple more properties myself in the coming years. Any guidance or suggestions would be much appreciated!