All Forum Posts by: Roy Nash

Yes great idea!  Then as the market appreciates more than one property will be appreciating simultaneously.  With the deals I found and putting minimum down of 25% I generated alot more cash flow with multiple properties and minimum down than if I had simply bought 1 or 2 and paid all cash for them. 

  I was thinking the same thing. I think initial Section 8 requires a 1 year lease so you can state a different lease length and they will not be able to meet Section 8 requirements for example.

Roy Nash

@Yolanda W Cuevas  Families and couples are more stable than roommates.   It seems like every unit that has a roommate situation usually ends up in flux with new roommates in and out etc.  The other issues is even though they are all on lease and maybe the parents are on as cosigners, it somebody doesn't pay their share the others are still reluctant to pay because they already paid their share.   So I have tried to pick a main tenant and the others effectively sublease from them but that can be problematic as well as if the others don't pay then the main person may not pay so same problem.    Never have had that issue with couples or families.   I would choose the couple with Rat.

@Kevin Mcnair. Shop around. My rates went up too with my long time broker but was still quoted 3.75% and 1.5% origination

@Greg M Yes my issue with Section8  Also.   My one S8 is the lowest Rent of all of all my Rents and I have not been able to raise it historically at the same rate as other similar units.   I only raise rents once a year anyway but I have to ask S8 for approval and so the ask always needs to be something  I believe they will approve.  I inherited the tenant and have honored the contract but I feel I can do better on the open Market.   Recently the S8 amount dropped to $0 for a month and previously S8 was only paying about 20% anyway.    I called S8 and asked how to terminate since they were not offering aid anyway and they said I needed to put in a 45 to 60 day notice even though S8 wasn't paying anything at all!  They recently did go back to the 20% .     Plus over time I actually go out of my way to improve properties anyway and since the last inspection I had put in all new Vinyl windows and brand new linoleum in the Bathroom, Dining, Kitchen, and Entry way which had cost Thousands of dollars.  Then S8  had the gall of writing the unit up for a small carpet tear which cost almost nothing to fix  but after spending thousands on voluntary improvements the write up totally irritated me to be honest.   I just don't appreciate the control S8 has over the landlord.   Anyway, I have stayed in the program for the sake of tenant who has been very diligent in the rental relationship.  However I have come close to withdrawing and I will not accept future S8 if I can help it!

@Jamie Bergstrom  I no longer use Craigslist but I did successfully in the past.  To overcome the reposting limitations and to keep your add from falling down you should try to post up every single day.  I used multiple email addresses and just kept cycling them so I could repost every day.  Not sure it that would still work but it did a few years ago still.  There were no charges to do that a few years ago.

I use Facebook and Zillow.   I do like Zillow's integrated features like the built in reusable application.   Lots and Lots of tire kickers on facebook.  Most of them wont even respond back to you if you respond to their request.   However one thing I like alot of about Facebook is the ability to go to the applicants page and basically pre screen them.   People should be careful about what they are posting if they are trying to move to a new rental or trying to get a new job....just saying!

I too am attracted to the nice ones. I did buy a couple nicer ones but I make my cash on the C Grade previously owned by a slumlord (actually a series of slumlords!) properties. I make in fact a lot more than I make on my 2 pretty properties. I am trying to upgrade my C Class units to B Class units so I spend a lot of time on these compared to my nice units. All of my management, tenant issues, and repair issues are generated from the C Class units as well. More work but a lot better ROI as well. In my market, I can rent as fast as I can turn it over. My C units need full remodels. I usually have to take them down for a month and work like a dog to get it done. My A units are back on the market with just a minor refresh and I don't have to take them down for a month. I like my A Units but I like the cash generation on my C units even more!

I obviously dont know but I am speculating he will be running out of reasons to extend it next time. By then everybody that wants a vaccination can get one, hopefully businesses will be opening up, restaurants will be filling up etc.   I think there is tons of pent up demand to just get out and hopefully workers will get their jobs back.  Supposedly more rental assistance will be available in the coming weeks so maybe you can get paid  I have one tenant behind by a month but that seems like a blessing compared to what some are experiencing.   With Real Estate appreciation as good as it has been the last few years if my tenant continues to not pay, I will just sell.  It seems to be the only practical way you can actually remove a non paying tenant legally for now in WA.  Not sure you can get a court date though!   Seems like quite a few rentals I have seen lately either have one or both units vacant when they put it on the market.