All Forum Posts by: Alvaro Arango

Hello BP community,

I’m looking for a property manager in Harford County in the Bel Air MD area. Any recommendations would be really appreciated. 

Thank you

@Zach Edelman I will be financing with a local bank. As you know, current interest rates are high so we have to be creative. We are looking as a second home loan putting 10 to 15% down with an arm at a 6.2%. Looking at other options as well

@Lisa Marie Thank you for your input. Yes, using a property manager is going to cut into the income during this time. I will be self managing the property. I was able to get a good a rate with a local bank where the numbers still work.

Thank you @Brooklyn McCarty

Hello BP Family, 

Im looking to connect with short term rental owners in McGaheysville and Harrisonburg area. I’m in the process of buying a house for short term rental. Antibody out there who can share their experience in that area? Thank you all. 

It all depends on your tolerance and its all about the numbers and how you can pivot if something were to change dramatically. I bought my first Condo w/ an HOA as a Primary, I moved out and is currently rented. Also, look at the bylaws before you buy it because some HOAs would like to have certain percentages of owners living in the building vs renting and this could impact your investing planing as you might be placed in waiting list to rent your apt. Sometimes they would like to have 70% owners living in the building and only 30% renters as this could affect financing etc. Hope this helps and good luck.

Thank you @Russell Brazil

Hello BP Members, I'm buying a property in Norfolk/Portsmouth VA and I'm looking for a reliable property manager. If anybody has an amazing PM that you could refer me to, I would really appreciate it. Thanks

I agree with @Alyson Anderson the Eastern Shore has a lot of potential. I currently buy in Salisbury MD which is 30 minutes from Ocean City. Great rental market and cash flow.

@Rich Bales Is this a 4 unit? or is it > 5 units, this is important for financing because you have to put 25%-30% if the property is >5 units. Agree with the above, you could do owner financing, maybe de owner would agree for 10% down. Make sure you run the numbers and look out for capital expenses etc. Regarding creative financing, do you have family or friends that could let you borrow the down payment?. Also, local banks are usually more flexible, so you may want to check you local banks. If you are having trouble, maybe bringing an experience partner might help too. Good luck