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All Forum Posts by: Sherief Elbassuoni

Sherief Elbassuoni has started 15 posts and replied 851 times.

Post: CPA & Tax Accountant Recommendation - Seattle

Sherief ElbassuoniPosted
  • Realtor
  • Bellevue, WA
  • Posts 882
  • Votes 1,968
Quote from @Shreyas Desai:

@Sherief Elbassuoni - could you please send me your recommended list of CPAs in the Seattle area too? Thanks


 Sure

@Skylar Daugherty, welcome to BP, you will learn a lot by networking with like-minded investors

Post: ~50k+ to put into investment property. what/where is best option for me?

Sherief ElbassuoniPosted
  • Realtor
  • Bellevue, WA
  • Posts 882
  • Votes 1,968

@John Shotton, $50K is enough if owner occupied since you can put very little money down (3.5% FHA, or 5% conventional, ....). It may not be enough though if you wanted a single family investment loan (15% down), or a duplex/triplex/Fourplex investment (20%-25%)

@Emily Ziemba, get an eviction attorney and start the process right away!

@Rishika Kapoor, we get good cash flow in the seattle market by being creative (ADU/DADU/Rent by the room/Airbnb/....).

Investing here gets us the benefits of high appreciation and good cash flow

Post: Looking to connect

Sherief ElbassuoniPosted
  • Realtor
  • Bellevue, WA
  • Posts 882
  • Votes 1,968

@Michael Spencer, welcome to the BP. You are in the right place to connect to other investors and professionals

Quote from @Jennifer F.:

Hi Everyone, 

I am new to the STR game and wanted to ask about Rental Registration & Inspection Ordinance (RRIO) in Seattle, Washington. How do I know if I need a RRIO inspection? Is this required before publishing my listing for Airbnb?

We scheduled a separate general inspection to check for issues because our 1-year warranty is ending in March 2023. Do I need both the RRIO inspection and general inspection now?

Thanks in advance for your help!

Kind Regards, 

Jennifer


 You will need to sign up for the inspection, but the inspection itself may not happen

@Marc Sudd, if you have low maintenance tenant, do not raise rent every single year since when they leave, the property will be vacant for some time, and you may end up netting the same after a year after factoring the touch-ups you do after the tenant leaves, and the vacancy while these touch ups are done, and the vacancy to get it filled up again

Post: Seattle STFI 1 story addition

Sherief ElbassuoniPosted
  • Realtor
  • Bellevue, WA
  • Posts 882
  • Votes 1,968

@Zach Capehart, what is the estimated cost for this 750 sq ft addition?

You will need to think if it makes sense to spend this money on the addition, or put this money as a downpayment on another property!