All Forum Posts by: Sharon Rosendahl

@Stephen Brown

Thank you for all the info. I am currently moving into a house hack but will come back to this once I am situated. 

Sharon

@James Wise Thank you! your guide is amazing and so informative.

Sharon

@Remington Lyman Thank you. Columbus is at the top of the list but I didn't want to focus only on that city and miss out on other options.

Duplicate

Hi KC, Thank you. I will look around there. As you know, here in WA cash flow is hard to come by and not at affordable prices.

Sharon

@Garrett Minter Thank you for the tip. Our tenants should be out this week and we will assess the property next week. Hopefully, we can get it on the market quickly and start looking for our new places in TX.

@Anna Catron

Thank you. I looked at some of the listing available and the prices are certainly what I'm looking for but according to BP rent estimator the rents are also really low. But, the BP estimator also has low confidence in its pricing. I looked at a house that looked quite nice, 160k list price, 3 bed 2 bath, 2400 sf. according to BP the rent would be $950 per month. Is this accurate? 

Thanks

Sharon

Hi All,

Thank you for the welcome and the info. I still work a demanding W2 but will be reaching out to some realtors and lenders to begin with. Our tenant has until August 31 to move out but I think they are planning on being out at the end of July. We will have some work to do as we need to paint, carpet and do whatever else is needed plus finish up the other unit on the property. I am hoping that this means we will get the end of summer traffic for the sale (it is a summer tourist town).

Please keep suggestions and opinions coming!

Thanks

Sharon

Knowing it is more than one guy per day does change my answer a little but not much. If there are no complaints or problems and you are in a neighborhood where this is common then I wouldn't worry much. Also, you still don't know she is doing something illegal but she may be running a legal business, which could violate your lease terms. If your building is the problem building then you need to clean up and I would probably give everyone 60 days notice to get out, rehab and improve my tenant quality.

I know this is probably too late for OP but I use 5% of monthly rent as rule of thumb for maintenance. Older buildings may bump that up, better condition down. For the last 12 years or so I have never had to do much but I always figure if I have enough to replace a roof, I'm good. Although the last time I had to replace a roof was storm damage and the insurance paid all but the $1k deductible. The more units I have the more I look to being able to replace a roof on 50% of my units in the same month. Probably overkill but lets me sleep at night.