All Forum Posts by: Stephanie Dupuis

Please don't beat yourself up on this. It's part of the learning experience. Better you lost money on this than with a guru, imo.

Learn to calculate your own cash flow using pro formas. If you go to my page, you can download the one I use. If you need help using it - PM me. You may need colleague request to download, so colleague request me. Use the people on BP to help you. You're welcome to run any deals past me and others. I'm more than willing help you run numbers. Post on the forum, BPers will help also. I tend to be conservative with my numbers. But...you run your numbers and use your knowledge and experience the best you can. Look at those numbers, what you know about the property, area, etc.

I make mistakes all the time. I like how you're continuing on. You simply need to look honestly at the situation, learn and grow. The mark of a winner. You have a great attitude and approach.

Hi Rick - I also offer my condolences. I recently lost my mom and was PR for the estate.

Even though the will identifies you as PR (personal representative), also called executor, an estate attorney needs to execute and record these documents for you before you can act as PR. Being a PR can be a time consuming and thankless job. You do not need to be PR (at least in WA State) to receive the benefits stated in the will, even if you are named as PR. You can assign the duties of PR to someone else, such as an attorney, paralegal (much more affordable), CPA, or someone else. This may seem counter-intuitive, but it can really free up your time to focus on things that matter (like real estate, sleeping, eating).

As stated above by @Marcia Maynard , you need both an estate attorney (not a specialist - find an attorney that specializes in estate law). Get a referral from another attorney if you can. You also need an attorney that specializes in landlord-tenant law.

I am not an attorney, do see an attorney.

I've had good experiences with rentlinx - it's free and posts to dozens of sites (trulia, Zillow, CL, etc.). There are many others that are great, but I keep it simple (I can only remember rentlinx). Sure others will post on here.

In agreement with the above posters. Have savings for a downpay and reserves. Reserves are essential. It's likely you will need the reserves.

Agreed.

Hi Matt - I am a real estate broker in WA State. Pocket listings are not allowed by the MLS in Washington State. This is a recent rule change.

I talk to tenants, colleagues, watch CL and the MLS. The other sources seem to be a step (or more) behind or in lala land.

You may want to consider renting in Bainbridge Island (a quick 20 min ferry ride into downtown Seattle) - Bainbridge has very nice rentals and the rates are still reasonable. The commute is faster than commuting from the outskirts of Seattle (Edmonds, Bothell, Issaquah, etc.) and it's an upscale community.

Bremerton also offers a nice community, not as upscale as Bainbridge. Although, Bremerton has several pocket communities that are very nice and within walking distance to the ferry. One of those communities is Manette. Manette offers incredible views, beaches, shops, restaurants, walking distance to ferry. Drawback is that the ferry commute (as of right now) is 45 min. to Seattle and does not run as often. Although commuter times are frequent. Rents are lower. Cost of living is incredibly low compared to Seattle and Bainbridge. Almost 2/3 to half.

There are openings on the Bainbridge/Bremerton side. Let me know if I can help. I'd recommend contacting a RE Agent when looking for a place in Seattle - a Seattle RE Agent who works the area. They have access to rentals that the general public does not. Some rentals in Seattle only allow access with an agent. Holler if you want some agent names for that area. I know some good agents downtown Seattle and others on the forum may also know some agents to contribute.

Welcome to BP, Ryan!

Welcome, Sam! You're going to enjoy Tacoma. I'm an agent/investor in Bremerton just west of Tacoma. Tacoma is a great town for both living and investing. Some nice downtown areas. Great to see you here!