All Forum Posts by: Eduardo Bravo

Hey grace, did u ever got a referral? I'm in the same boat of looking for a property manager.

Kevin did you ever got a recommendation? I'm on a quest to find a multifamliy property manager that serves Kent too.

thanks for the input @Brenda E. The certificate of occupancy is 12 units.  I also concerned that this will be an issue with the lender and 

Appreciate the advice @Account Closed . I do agree that Seatlle/King county is becoming more like california in terms of regulation which is not ideal for landlords. For me is more about convinience I travel once a month from CA to Wa . I still have to do research on 

Hi! I'm in contract to buy a 13 unit multifamily (1 non-confirming unit) in the Seattle/Kent area.   Looking at the Kent Rental House Registration program. It seems that starting 2020 rental properties will have to be registered with the city and inspected every 3 years. Will there be an issue with the non-conforming unit in the near future?

Thank you in advance

Hi BIggerPockets friends,

I'm in contract to buy a 2.5m multifamily with a non-confirming unit in the seattle/kent area. The building is being marketed as a 13 unit, with a decent cap rate of 6%, however, after looking at the property details in the property assessor website the building is legally a 12 unit although still zoned Multifamliy (MR-M).

My questions are:

- How common are these situations in the Multifamliy space?

- Would the bank/appraiser take into account the income from the 1 non-conforming unit.

- Should I be concerned of future city property inspections?

Thanks for you advice

I got a Heloc for an investment property using Fremont Bank , so yes its possible, you will have to pay a higher interest rate than if the Heloc was on your primary home.

Just got a quote from fremont bank at 6.25% with a checking account, and 75LTV 

@Mathew Wray I will share more details soon, still wrapping my head around all the paperwork, process, etc :). Thanks for the referrals, I will reach out to them

Today I spent part of the the day getting quotes from companies that  I found through yelp/angie's list and was surprise by the difference in price, some quote 1k,3k, 5k, is this usual? Any recommendations on what is fair price for a multifamily inspection in the portland area?

HI BP Friends,

I just got in contract for a multifamily apt building in the portland, oregon area, I'm looking for any referrals for a good property inspector and sewer scope contractors.

Thank you!