All Forum Posts by: Mike R.

I believe parkland is in pierce county and they do,have a department that deals with these types of things.  They will come and take it away.  Look for a phone number on the county website (hard to find the number) and it should be an automated message where you leave address of car, etc.  It doesnt happen overnight but they get to it eventually

i agree with @Rob D.   don't get into the landlord biz due to tax breaks.  Tax laws change so what might be an advantage today may be a weakness tomorrow.  

we have a "waterfall" provision in our leases that says payments are applied in a specific order 1) utilities 2) late fees 3) rent.  That way if they pay the rent amount but not the utility/late fee, we can deduct the utility/late fee amount due and hit them with late rent because they didn't pay the full amount of rent.  easier to evict that way.  the problem is that you have to know they didn't pay the utility bill.  

@Bjorn Ahlblad,

thank you for the reply.  Our prop is in West Bremerton near the naval base.  always rented and building is in great shape.  2 bd, 1bt units all are 1k sqft with off street parking.  

@Matt A., thank you for the quick reply!!

sounds like erentpayment had some significant problems and land lords didn't get their money.  So i wonder if there are any updates to rent payment systems people use?  thank you!

i have never understood the idea that you keep a mortgage because you get to write off the interest.  You still paid the interest and you do not get to write off the entire amount of the interest.  For example, your tax rate times your total interest paid is your "write off". 

I also don't think the answer is as simple as "can you get a return higher than the interest rate of the loan".  Yes, from a purely return figure stand point, that logic works.  However, you haven't addressed the risk side of the equation--what types of risk are you taking by investing with the HOPE of a return higher than the loan rate relative to the risks you are currently taking.  Yes, you can invest in a hedge fund or some other investment and earn 7% (gross of fees), but are you taking on risk you don't like.  Tell me how the stock market volatility of the last month helped you sleep at night relative to making a known mortgage payment.  Tell me how you feel about paying off the mortgage and having the resulting extra cash flow in your checking account.  Tell me how that would feel if we are in a recession (likely in 2019 or 2020). 

we have a 6 unit building we are considering placing on the market and i wonder if anyone has a good idea what are current cap rates (or other valuation measures you use)  in Bremerton area?  thank you!!

Short answer is yes, Bremerton is booming.   Where else in Puget sound can you commute to Seattle in 30 mins and still find a newly remodeled home for well under 400k???   Downtown, near the ferry, has been revitalised, etc.  It still has a ways to go and prices have picked up but I don't see how Seattle workers can ignore the value especially where Seattle and king county taxes are going and the mess that is the Seattle city clownsule

@Rob_Beardsley

Actually I was more worried about markets that I am currently invested in becoming rent controlled