All Forum Posts by: Enrique Jevons

I'll be there.  Thank you Tatiana, Dima and Kevin.

The largest I have is a 54 unit complex.  But, the owner is under water on the loans.

The owners I have that would like to sell are all 4-plexes, duplexes, and single family homes.

Thanks for asking.

I own a property management company with over 600 homes and apartments in Washington State.  Please contact me if you are interested in having your rentals in either King County or Yakima County professionally managed.

You can find more information about me at www.jevonsproperties.com

You can also listen to my BiggerPockets Podcast Show #146

Thanks so much.  I just registered an underground heating oil tank I have on one of my rentals in Yakima.

Hmmm.  I was trying to keep the podcast a secret.  And, what is going on with a 3rd property manager coming to our meetups now?  Perhaps we'll form a property manager subgroup and take over the meetings.  A coup d'etat.

Since you still need a paycheck, but are ultimately interested in real estate, I think you should get a job at a large real estate agency so that you can get paid to learn.  Don't start off as an agent, start with something that has a paycheck just to be safe and pay off your bills.  Stick with it, and it will pay off in the long run. 

Just yesterday I recommended to the owner of a rental property I manage to paint over the dark wood paneling, and she said "oh no, I heard that wood paneling is coming back in style".  

I'm with the rest of you guys on this topic.  Paint it.  I can't imagine dark wood paneling in a small bedroom coming back in style.

I used to have over 20 Section 8 tenants, but am down to 12 now. I've stopped taking any new ones as I've had the same difficulties as yourself. So through attrition I'm letting them go. Working with the government can be very frustrating. Our local housing authority is severely understaffed, so it makes it even harder to work with.

I don't think your missing anything. I would definitely recommend keeping the existing management company. Later you can shop around to see if you can find a better one. But change always brings about anxiety for tenants, so best to keep things stable while the tenants get used to the new ownership.

I love using my lines of credit.  I have one on my personal residence, one on two little rental homes, and one unsecured line of credit.  The rates all vary, with the unsecured being the highest interest rate, so I use that one last.  

I chose to get a line of credit on two single family homes valued at only $60,000 and $80,000 rather than going for traditional mortgages as the origination fees were much lower and a full appraisal was not required. 

Over time, I've been able to go back to my banks with the lines of credit and obtain better rates and higher limits.  I've found that building relationships with the lenders has proved wonders.  And, I've learned it never hurts to keep asking for better and better terms, without having to go through the trouble and costs of refinancing.