All Forum Posts by: Sergey A. Petrov

@Michael Smythies and @Eric Yu - condos almost always cash flow very well right off the bat especially with a 25% downpayment. Just need to find the right one and there is just a handful of them. Single family and townhomes are a bit tougher to cash flow but there is a balance there as well between location, acquisition costs, and/or ADU/DADU options. these are limited unless it is your primary residence in the Seattle proper. Fully furnished MTRs on single family D/ADUs tend to do better…

Why is that a requirement? Prescreen your tenants and go with the system that has worked for hundreds of years. Rent is monthly. If I am a mortgage company and my question is how do I require my borrowers to prepay 6 months worth of payments, I won’t be in business for too long

Diversify! If you are not in the stock market, you should be. It doesn’t have to be individual stocks. There are mutual funds, index funds, bonds, and a million other ways to make your money make you money “in the market”

It is either passive or active. You either continue putting in the hours or pay someone for their hours. Anything in between fails. Nordstrom (high end) lives on, Wal-Mart (low end) lives on, JC Penney and Sears with their “in the middle” business model have failed 

Call the “rent control department” in your municipality/area. They will tell you what your caps are

This comes and goes. People’s goals and objectives change and you have to adjust. If you are looking for a business partner for life, it just doesn’t exist. Multiple partners for different things, multiple relationships that work today but not tomorrow. It is fluid.

Tough one. You can either walk away or sue to force the seller to perform. I am not an attorney but suspect you’ll likely win in court. It’ll cost more in legal fees which will probably get awarded to you but if the seller has no money and they are upside down on the house you likely won’t collect. You’ll still close and own the house in 12 months once the legal proceedings go through the motions but… 

Pay a title company for a title report. If you asking whether or not a property has a mortgage, the chances are you should think beyond just a mortgage…

sounds legit. capital contributions, transfer fees, move in fees, and other misc charges typically "belong" to the new owner so they are "after" you win the auction and take ownership of a property.

you have to comply with the law whether or not you have signed a contract with a property manager. you set the eligibility criteria within the legal parameters or let your manager do that. if you haven't signed the contract, you do not yet have a manager. and if that is the case (you do not yet have a manager) how are they already advertising and pre-screening the applicants?

regardless of the above, stick to the laws that apply in your area!