All Forum Posts by: Julien Jeannot

Hey Austin,

Congrats on your first house hack. I use tenantalert.com and it has worked well so far for background checks and personally call the references and employers

As far as management rent collections, fees and renter's insurance tracker, I use apartment.com

Welcome Paul,

I'd suggest starting with value in mind. Value for the seller and value for the end buyer. Essentially, know your numbers and ensure there is enough profit in the deal.

All great post, the only thing I would add is to ensure you have another exit if the need arises.

I second the attorney. Most state/county have a bar association that can provide an attorney referral with a free 30min consult.

Then based on the conversation, ask for a recommendation for a CPA. Might as well start a relationship early as you'll need one eventually.

I'd start with what are your long term goals, then work backward into what to do with the property. Run the numbers, assess the risk,  the opportunity cost and make the decision. Consult CPA, attorney, local PM and even a solid real-estate agent to vet the strategy and understand the implications.

Definitely get a property manager unless you know what you are doing and can invest the time to keep up with WA laws.

I can't see a big enough market for condos in an HOA of 4.

Too much risk if 1 unit does not pay their dues or missed an assessment, not to mention getting along in order to vote on anything.

I agree, the 1% does not apply here.

Its been an equity appreciation type of a market with great year over year rent increases (COVID aside).

If you consider selling, keep in mind selling expenses of 8% to 10%, then add buying cost. That can eat into your profits rather quickly. 

Welcome Zack!

I'm a fan of the North End for buy and hold: Everett, Snohomish, Monroe, Bothell, and Mill Creek.

At least make them sign a some sort of waiver lol.

Anything is possible and I love the owner occupied multis for first time investors. That's how I got started.

First steps is to talk to an agent and lender to get the lay of the land, set expectations and a strategy.