All Forum Posts by: Michael Kimmell

It's ridiculous. The Seattle city counsel cares more about fighting trump than its citizens. I just paid the Mass transit tax on my cars this weekend.

I really do appreciate the quick and useful information. Also for setting me straight on a few misconceptions I had.

Thanks for the information! I'm always learning something.

So I have been in the SFH and duplex landlord business since 2003. I was very lucky and sold in 2006 and starting buying again in 2011. I am at the point where starting to look at apartment buildings over 4 units. I have done a lot of reading on commercial loans and especially on all the different ones tailored to apts. My question is, is the potential rental income from an apartment building used to secure the loan? How does that work? I have been down this road with my residential loans. I understand the property had to have been rented for two years before you can count the income and even then it I'd only count at 25% of what it makes. Thanks for taking the time to read my question. Mike

Yes they are. I'm not an expert but I think they run between 0.5 to 1.0 higher than if you where living in it. also you typically have to put 25 percent down instead of 20. At least that's my experience.