All Forum Posts by: Julie Marquez

@John Teachout About how long do you think it will take you guys to turnover that apartment? Sounds like you do similar things to what I do, and I just wonder how long it take other people - I do most everything myself, and I feel like I'm slow at turnovers.

@Erik W. I'm as busy as ever! Just finished up a flip house and it will go on the market today, and have two vacant apartments, but not much interested in the apartments. Also continuing to work on our other new build duplex project and our daycare is still open so we can still work days like normal.

@Nathan Gesner What specifically are you doing to work with those who can't pay rent? Do you make them fill out a bunch of hardship paperwork, work out a payment plan, change the terms of their rental agreement? It's easy to work with the good tenants that mean well, but not so much for the always late (I should have kicked him out months ago) person.

@Nathan Gesner I have two vacancies right now (they both left because they bought houses), and I am not getting much response right now. Maybe 25% of the usual inquiry amount and I usually hold open houses, but can't do that now, so I don't know how it would have compared.

I've had no problem with my usual contractors coming in to work solo to clean the carpets or get the hot water heater replace.

For rent day, it was all the same. A lot of my tenants are on social security or some other already established government subsidies, and the same people that always pay late, still pay later and ask "what are you going to do for me?" Nothing different yet in that camp. I hope this isn't classified as discrimination, but my late fees and waivers will vary by tenant - if s/he is in good standing or not.

Our state has a moratorium on evictions, but I'm unclear about my usual (just cause) 20-Day Notice to Vacate. I'd still like to use that one, we have all M2M rental agreements.

More interesting is calling all my lenders to understand their options. The Fannie Mae backed ones only offer forbearance of 90 days or 7 months. Chase is a 90 day forbearance, and my local portfolio lender and commercial bank offer deferrals.

@Matt Joplin Hi Matt, I'm an agent in Skagit with Pellego. Check out their website for analyzing properties.

I think both your options are great, and you can't go wrong with selling it or holding it. It just really depends on what you want to do. Do you like the idea of holding properties, or do you get excited about the next new thing? I personally think it's still a great time to sell and that we will continue to see a strong real estate market in this area.

We have 16 rentals in MV and Anacortes, and I personally would love to keep everything we get our hands on. I think about our legacy and long term wealth of holding on to everything. We are also about to list a 2/1 flip in MV and believe it will sell for top dollar. It sounds like you would just like more information to help you make the best decision, and I think you are at the point of personal preference of two great options!

@Michael Ablan I just applied through that link. That seemed way to easy and didn't really ask much about the nature of my business or how I came up with amount of lost rents, I just used a 6 month period assuming 100% of renters can't pay.

@Katie Miller So no iphone pics of the before? That's how I make the after photos look so good. lol

We are almost done with a little flip in Mount Vernon, WA. Hopefully we get some good pictures, but photographers are not deemed essential right now. We purchased for $130,000 from an Instagram DM from another local investor. This is our first flip and our first partnership, and we have done most of the work ourselves in the past 3 months. I should hit the market in a couple of days!

Here's an in progress (not professional) picture so you get the idea of what kind of house we are talking about. I would love to get you more information if this fits your criteria.

@Blaine Alger It all depends on what you want to do. Tenant Cloud has a lot more features, but I don't use them anymore. They were always glitchy and the application feature was never working for the tenant, always crashing. I have 20 units and use google sheets for my bookkeeping. I continue to use Cozy for application and screening and rent collection and it's simply, easy and does the job without being more complicated than it needs to be.

@Grace P. I guess I'd just just shoot for the lower end of the ARV or even shave off your rehab budget if you can. People still need places to live and the Navy is considered essential and probably not closing down. We have a flip ready to sell in a week and we are just going day by day to see how the market goes.

@James C Norman Jr The auction in Skagit County just went to an online system, maybe that will be easier to access for you