All Forum Posts by: Eddie Brady

Check out Busch Tax Company out of New Albany, OH. I use them and have been happy so far.

Where are you getting your rent estimate from? $1300 is extremely high for this area.

@Michael File look into the price-to-rent ratios. Seattle is very expensive and difficult to purchase profitable buy and hold rentals. You may want to look at other towns or out of state.

@Joshua Hilliard listen to every BP podcast. Read every real estate book you can. And most importantly, just START. You'll never feel ready.

@Jake Burgdorf the condo association should have insurance for this situation unless they can somehow prove the leak as being caused by the tenant above.

@Macintyre Braun taking the first step and starting. That's it.

@Juan Alvarez this was talked about on one of the BP podcasts (can't recall the episode). I'm paraphrasing here, but these units can do really well in urban areas but become less popular in suburban areas.

Check out permitting for the additional unit to make sure it can be used as an ADU. If you aren't sure, call the county/city permitting office.

@Tim Lewis local agents know good property managers who know good contractors. Referrals are key.

@Paul Zhang if you are self-managing, it's common to do an actual walk through of the property once a year. It's hard to trust a tenant to report all deficient items to you.

Contact the title company you are using to close on the property and ask about "quit-claiming" the property into your LLC name. Also, make sure your mortgage note with your lender does not prohibit this. If you have any more questions, don't hesitate to message me!