All Forum Posts by: Peter Grote

@Scott S. Thanks Scott, both my homes are in East Tacoma. The current 3/1.5 is 4300 block of South L street which appears to be a nice neighborhood. I've met many of the neighbors who all own and have been there for years.

Hi @Wainwright Yu, your software sounds interesting. I'm a Pierce co SFR investor and would be happy to give it some testing if you're looking for more people to try it. Thanks

I am starting to purchase SFR homes to buy and hold. The homes I'm getting tend to be older 1900-1950 and so have galvanized pipes. What rule of thumb do people tend to use for when to replace them? when something's leaking? or when the hot water flow is becoming too slow? or when it's convenient because you're doing other rehab anyway? and then do a little at a time or all at once? thanks

I just picked up my 2nd SFR in Tacoma, WA and am working on rehabbing it, hoping to be done by the end of November. I realize that this isn't the best time of year to find renters and wonder if people have an opinion on renting it out Dec. 1 vs. Jan. 1, or even waiting until Feb. 1? It's a 3bd/1.5ba and I will have to work hard to have it ready by December. If it's better to list for rent January 1 then I can relax a little with my rehab timeline, though of course the sooner it's rented the better!

@Alex Chin Thanks for the tip Alex!

Does anyone have a recommendation for a good real estate lawyer for an investor just beginning with a couple of SFR rentals? Not much to do at this point but looking for someone with broad knowledge if I have questions (lease to own, writing purchase contracts, etc.) Properties are in Tacoma so ideally someone there, though I live in Seattle. Thanks.

Does anyone have a recommendation for a good real estate lawyer for an investor just beginning with a couple of SFR rentals? Not much to do at this point but looking for someone with broad knowledge if I have questions (lease to own, writing purchase contracts, etc.) Thanks.

I'm not sure about renting rooms if it's not close to one of the colleges but this home could definitely be used for a remake of The Brady Bunch! The '70s decor was really something!  I have seen homes on craigslist offering rooms for rent but they've been a few blocks from UPS or SPU.

@Christian Bateman Good question Christian. I see the property you are considering. I've just been getting into the Tacoma market this year though have a friend who's been investing there for a decade. The Hilltop area you are referring to is definitely improving; it was quite a high crime area. North of 6th Ave. is one of the better parts of Tacoma, so S of 6th is improving. I've only done SFR and have been told to watch out for an old property which has been turned into multi family. Lots of people have done so but noise between units can be one of many issues. Separate meters is another. With such an old property you want to make sure you do your due diligence with inspection and knowing what it's going to need work wise. Hope that helps.

Thanks for the tips Bradley. Yes, having financing available and able to do quick closes has already helped. I appreciate your suggestions!