All Forum Posts by: Mike R.

i knew we needed cash flow in retirement.  RE was something i knew i could learn and it has worked out well...

sadly I actually wrote the author of the bill and provided numerical examples of how badly this will hurt landlords and I received NOTHING in response.  sad to say, this isn't about what is just and fair its all political grandstanding.  someone pointed me to a youtube video of an activist in OR, who summarized it well.  in essence the activist said they do not want small time landlords because they are too difficult to deal with (i.e. we vote).  they want the big RE developers because they have more control over them (i.e. you want to build new property, you have to bend to our rules).  Frankly, the politicians are just too stupid to understand this type of bill will KILL the development of new housing and therefore make the house crisis worse.  you just can't fix stupid......

write up in today's WSJ (1/28/19) about oregon's attack on landlords....sorry for your OR investors.  But dont come to WA, our political machine is just getting started with the rules that will actually make affordable housing harder to come by....politicians are either as sharp as a marble or actually know these rules won't make it better for the majority of renters but dont care because its good press for them....

And what did you Oregonians do when these laws were passed?  How did you biz change? 

Why move 3 day to 14 day.  My mortage company wont do that

Why cant I have fees, utilities be paid first?  That is how we ensure bills get paid.  Add in the inability to evict over fees and there is no way to make tenant pay bills

Why cant I ahve month to month leases?  

What does "plain language" mean?  Whats plain to me may not be plain to someone else.

Limits my ability to end lease for problem tenant.  A tenant that is disrespectiveful to building and neighbors, even if they are paying the rent, is not someone I want in my building

Why move 3 day to 14 day.  My mortage company wont do that

Why cant I have fees, utilities be paid first?  That is how we ensure bills get paid.  Add in the inability to evict over fees and there is no way to make tenant pay bills

Why cant I ahve month to month leases?  

What does "plain language" mean?  Whats plain to me may not be plain to someone else.

Limits my ability to end lease for problem tenant.  A tenant that is disrespectiveful to building and neighbors, even if they are paying the rent, is not someone I want in my building

FYI, Senator Patty Kuderer penned SB5600 and it will negatively impact our business.  call or write to your senator to voice your views.  

we only use craigslist.  works perfectly.  we tried Zillow several years ago and were not impressed.  

@Gary Floring

Gary you're in Bremerton?  we have prop in Bremerton.  under rated area in my opinion.  

As far as your question regarding @Lynnette E. comment, i have to say i agree with her.  Fewer properties lead to fewer calls/maintenance issues, etc.  paid off properties can yield the same net cash flow and fewer headaches.  I do not understand why some will say "but if you pay it off you lose the interest deduction".  so what.  you do not get to write off the entire interest payment, only the amount equal to your marginal tax rate--you still wrote a check for the reminder.  less debt is always better.  yes, most investors need some leverage to get started, but that doesn't mean you have to keep the debt for the entire loan period.  

i am on-board with paying off property.  no debt provides piece of mind and financial flexibility.  Both of which are important during difficult economic conditions.  One approach we have taken is to pay off one property with our $.  use the extra cash flow due to no mortgage on property X to pay off another property and repeat until all paid off.  The benefit is you use your $ only once (payoff first property) and then renters $ to pay off the remainder.  use a spreadsheet to model this out and you will be amazed at how fast you can pay off several properties.