All Forum Posts by: Ryan Evans

I'd get to the fixated expo this weekend. You'll find everyone you need on the team. It's in the events section! 

Welcome to the site @Channing Chanel ! And congrats on becoming a landlord! 

Next steps is a pretty broad question as there are a million ways to invest and a million opinions on what the best way to go is. If you're happy with the first property then doing another similar deal will likely be the easiest option as you've already dealt with a big part of the first time property buying learning curve. 

Flipping is a completely different business model and the competition is fierce out here. But then again it's competitive across all of Puget Sound. 

If I was in your shoes and wanted to go a more simple route, I might pull a HELOC and try to snatch up a small multifamily in the 253 with the cash you've made on appreciation. If you can find one and manage to get a non-cash offer through, that is!

EPIC! Nice work BP team! 

So many business related sites come and go, but this is the only one I always get value from and keep coming back to! 

Keep it up!

I'd just make sure the deal still pencils out as a standard rental. As others have stated, it's not uncommon to have municipalities restrict STRs. You wouldn't want to make a bet like that and have the city tell you that your business model isn't legal anymore. If it can work as a standard rental then ride the wave as an airbnb for the extra cash, but always make sure you've got a backup plan!

I'm down in Austin this week to explore the market and get away from the misery of Seattle. After just a couple days it has me seriously considering moving as well! Can't believe I'm saying that! The day-to-day lifestyle here is amazing. I can see it continuing to gentrify much like how Seattle has done over the years. There are quite a few cranes in the sky and a lot of big economic factors pointing in the right direction. But it's yet to blow up like the west coast has. 

Seattle is just ridiculous, but you can still get in at a decent price point in Austin (relatively speaking of course). The cash flow might be a bit harder to find than other areas of TX, but I imagine there will be a lot of money being made in Austin over the coming years. 

You said "time-saving" benefits? You'd have to work over 12 weeks full-time at $100/hour to save 50k. That doesn't sound like saving time to me!

Welcome to BP! I'm sure the commute is a little easier knowing you scored big by buying in T-town three years ago! 

Good luck with the deal shopping! 

Might want to go straight to the source and just call and inquire about the past years worth of bills on that specific property. Dominion energy is the supplier I have out there. Getting it straight from the source will give you the best info, especially since it will entirely depend on how much your tenants use it. 

But it sounds like you're buying more than one unit, in which case you should have gas and electric metered separately through your tenants account. And in that case it doesn't matter as much. You should only be paying water, sewer, and garbage. 

Sounds like you've got an exciting couple of years ahead. I might suggest looking into a company called Loftium as a funding source for your first deal. I'm working with a buyer to get a house hack rental through them and it's an awesome way to get some cash for a down payment. 

And you should get to the fixated on real estate expo next weekend if you want to build your network. You won't regret it! 

I wouldn't write off the guy downstairs and tell him to deal with it. You're likely going to face the same issue with future tenants. Yes, kids will be kids and adults can be just as noisy. And sure, maybe he is a complainer, but if he's not able to live his life without constant disruption then you're likely going to have the same issue in the future with anyone else that lives downstairs. 

I own duplexes as rentals and don't have kids upstairs for this very reason, but I rent a lower duplex unit where I live. I have the same issue as some kids moved in above me. I've talked with the neighbors and they've kept the noise to a minimum, but because of that and a couple other reasons, I'm choosing to move out. I'm not involving the owner because it wouldn't accomplish anything. 

There's no damage to the property, but I know the owner is going to be out well over a thousand dollars because he's not going to have a tenant in there right away. It's all because he rented an upstairs unit to a family with small children. 

Maybe you can replace the lower unit guy with a family with small kids and then the noise from upstairs will be drowned out by their own kids! haha