All Forum Posts by: Lorin K.

What is the legal definition of renting a room out vs renting space in a house? IF the rent is split evenly does that mean the sub renter can put all of his things in the house next to things with the other renter? Does renting out a room mean that if the house has two occupants that both parties split the utilities? 

I am looking for forms and steps needed to just pass the deal off to a investor and be paid a referral fee and not be stung by non payment "enforced" legal form.

Thanks much ;)

BEEE carefull. Not picking on any of you guys who are under the age of 26 but men tend to be very dangerous, wreckless and end up getting killed. Case point, my ex wife's boss had a condo in whistler BC Canada. They rented the unit to a bunch of 20 year olds for a few days. The guys were idiots and cut a hole in the wall so beer could be passed to the guys in the outdoor hotub. 

Not nearly as extreme as Vancouver BC, a 2.5 hour to the north in Canada but still...its to the point of unaffordable for your average family. I once remember looking at a fixer on top of queen ann hill a house that was asking price of 90k in 1997. Today the house probably would be close to 950,000k How things have changed!

https://seattle.craigslist.org/see/reb/d/attention-investors-value-is/6486005724.html

http://www.seattletimes.com/business/real-estate/seattle-home-price-growth-is-nearly-double-any-other-u-s-city/

Pretty crazy...I think the 1% properties now are thing of the past?

Adrian, what is your position? Are you a lender/investor who does none of the physical work but helps new investors to acquire and rehab,rent or sell properties? I am looking for some one I can CALL now...when needed. Example, a house that needed new electrical and a generator because it was ripped out by copper thieves. the house was in a gorgeous area of enemclaw. Before pictures were taken and was VERY nice inside. It also included a second house and owner was motivated so sold both for 98,000 cash! Anyway.. I also have good credit and part time self employed. The amount of physical labor would limited...im no spring chicken anymore but can direct the contractor what needs to be done. Ever work with other jr new investors before?

I dont own any rentals....yet. Seems every time I ask for a co-investor to work with me, they are to busy, they do not focus on the south puget sound, they do not co-invest. I have seen deals for 50% on the dollar slip between my fingers...and all it needed was new electrical. 

As for stress, one story I read was because the guy was just dumb! he got a home for 50k in Tacoma and never inspected it "it was a foclosure". It was one one of the busissiest streets..mistake number two. He came to the house to have a look inside and vagrants were living in the house. He asked them they need to leave. So what did the vagrants do? use a sawzaw and cut the ceiling joist. He called in a contractor and it would cost him 50,000 in repairs plus renovate the house. He said "the house cost and repairs equal the total value of the house!" so he did not have the extra 50k and let the house slide into foreclosure. The bank then decides to sue him because he was not going to be the owner occupant.

I hope that if I ever buy a house, I never ever come across a house with these problems!

The best time is when you are young and have stamina. You like most other men in 40s and 50s will have some kind of disability so now is the best time to do this...dont wait, it will be your income if employers wont hire you because of age discrimination. 

I was working for a company that needed me to drive into Aberdeen. I have lived in the Sound since 1975 and never been to the city. I do agree the city is very depressed. I remember standing on the second floor of the highschool looking at all the houses and they looked all weathered and beaten. It still amazes me just how cheap these homes are compared to the rest of western washington all the way up to Blaine Washington, another town I love. 

Did some one say they had a flood plain map? What about parking a house boat on a empty lot? :) 

Wow nice spread of 335 to 1,200 ... See...you made a offer..what is the market like? Seattle is just to insane. A house goes on the market 3-7 people make more offers above asking. 

ohh and want to know the insanity of Vancouver BC properties just google "vancouver tear down" and hit the second link. house twice as bad shape asking 2.4 million.