All Forum Posts by: Walter W.

Andy,

This is a tough one. But I don't have enough info to say one way or the other. How well is the HOA capitalized? Do you have the reserves to cover vacancies and repairs? Is the $20k in appreciation before closing costs? Do you have a fixed rate mortgage? How much principal do you pay every month? Is the principal pay-down greater than $150?

Do you believe that the property value will rise? If so, why? Will it rise enough to off-set the $150~? Are rents trending up in the neighborhood?

There is nothing wrong with thinking of the condo as a savings account. Just need to make sure that the property’s value is stable/increasing and that you have adequate reserves. 

Walter

Hi Joe,

I work in Bellevue as a commercial banker. I own a few properties and would be happy to share my experience. Shoot me a note if you want to grab coffee. Your tax background will be useful I suspect.

Best,

Walter

Welcome to BP. 

Welcome to BP!

Thanks for sharing. Very interesting. 

Lisa,

I rent my personal residence and it has never stopped me from getting a mortgage.

Good luck!

Walter

HI Jim,

I will send you a PM. I work with a TK group in KC.

Walter

Welcome to BP!  Keep an eye out for a BP Seattle meetup. I think there will be one soon.  

Awesome thread! My goal is to replace my income in 4 years. I want to have the option to retire before I am 35.

Chet,

Did you listen to Seth Williams on podcast #39?

http://www.biggerpockets.com/renewsblog/2013/10/10...

Best,
Walter