All Forum Posts by: Andrew Nugent

@Tim Johnson Thank you for weighing in I appreciate your thoughts! I wouldn't implement an LLC until after I have moved out of the property making it a full blown rental. Are better rates offered to individuals opposed to LLC's? Hard money looks good until you have to pay for it, how does the rate and term refi's usually work?

@Stephanie P.

@Stephanie P. Sounds like I will have to check out the area thanks for the heads up! Did you and your husband continue to buy multi fams?

I would be careful with keeping the tenant as your systems will undoubtedly be different, hopefully for the better! It is hard to teach an old dog new tricks especially one that has been used to his friend being his landlord. I would just send them a notice saying you plan to increase rent starting a month or 2 down the road and give them the option to resign or move on. Best of luck with the investment and getting everything straightened out before vacation!!

Hello BP!

I am looking to do my second deal in an effort to continue building my rental portfolio. Right now I'm short on cash, could pull together some private investors however that would take more time then I wish to spend, so I'm trying to figure out whether to pursue a live in "househack" with conventional financing or a hard money loan and aim to do a rate and term refi. I know a lot is contingent upon my numbers and purchase price but generally speaking which option would YOU pursue and why? I have never used hard money and am unfamiliar with rate and refis.

Welcome to BP @Zack Clopper! You have found a truly amazing community here. I like yourself recently graduated from Towson and have begun my investing career with my first "househack" in the Towson area. There is a group that meets every 3rd Thursday of the month, while they charge a guest admission of 7 bucks I found it to be quite worthwhile http://www.baltimorereia.com/. 

@Daniel Woodall Hey buddy cool to see you on BP!! Feel free to reach out and chat, I currently have my eyes on Parkville as well for my next property

Hey guys

I just bought my first home and have my friends living with me paying my mortgage. I plan to move out after 1 years time and make it a full blown rental. Besides paying it off with my own money and rental income are there any strategies I can adopt to pay off the mortgage faster or more efficiently? 

Hello BP!

Are there any investors out there who have experience working in the rental market in Fed Hill? What's your take on status of the market and what are some of the rental rates you are charging if you feel comfortable sharing.

I'm thinking of investing there in the future.

I too stand behind the idea of calling potential PM and evaluating their response time and customer service to get an idea for how they go about business. I also wouldn't read all of these nightmares PM stories and think they will happen to you. As long as you do your homework you can find a reliable company to work with!

@Tariq B. I am a soon to be landlord. I will be graduating from Towson University in May and have just recently purchased property in the area that I intend to live in for a year with my friends, having them pay my monthly mortgage, and then move out and make it a rental that I will be responsible for.

I think this is a great idea having everything one has in a portfolio neatly organized and accessible from the palm of your hand. I would be sure to include a mortgage calculator, return on investment calculator, and other common calculations all under the same drop down to keep it concise and organized.