All Forum Posts by: Pra Che

I’m looking in that area and nearby neighborhood as well. PM me to compare notes. I’m almost close to pulling the trigger on a prop with 15% cap rate.

I echo with some of the thoughts others are mentioning with better tenant with lower rent. Recently my unit came up for lease renew and I could have rented easily $250 over the current lease and looking at the tenant situation, I continued with current terms not increase what so ever. She doesn't cause any big issues but does little bit of drama from time to time. She is like in her 50's and by herself.  The place doesn't get a lot of wear and tear. It's ok. It's lot less head ache trying to find a new tenant for another $250. I would have paid that anyways in PM fees.

Wonderful to see such a great support in BP community here...I reached out to some folks recommended. Will keep posted on how my 1031 turns out.

I’m in process of selling a investment prop in WA and invest the proceeds in a different state...if I can learn and pros and cons is 1031 for this kind of transaction will be helpful. Any referrals will be greatly appreciated.

Wouldn’t county clarify the zoning?

@George Despotopoulos, appreciate the info. I meant 6 mo - 1 yr. This will be a flip. Private lenders are asking 

- 2 point transaction fee, 

- 12% interest rate

- $750 processing fee. 

If anyone has better terms and can close in 2 - 4 weeks please let me know. 

I have talked to a few private lenders and they are all over the board for terms and conditions. I would like to get a sense of what the reasonable terms I should be looking out for. Just for hypothetical reason, Purchase price is $1MM Loan term 6 - 1yr Credit score- 740+ Multiple rental props Can do upto 20% down. Please post what you think are reasonable private funding terms to consider in Seattle area. Appreciate all your comments in advance. Any other creative idea at lower rates are all welcome.

Can you tell us more about the financing you are looking for? How much down will you do? What kind of terms? How long will you stay with? What’s your exit strategy,

I have units in the midst of several companies In Seattle area. How do I get corporate rent my place? Any pointers and direction and thoughts will be helpful. What are pros and cons of leading to corporate rental approach?

When did this deal take place? Wondering is subprime is starting to show the signs...