All Forum Posts by: JR T.

Send the statement, calculated in accordance with your lease agreement. Then apply a "courtesy discount" or credit against whatever you're charging and refund the deposit with interest as required by law.

You're within your rights to discount your receivables on a case-by-case basis. In this case you're pricing in your risk some attorney will mess with you for years hoping for some outrageous fee award for pursuing you to the ends of the earth to recover the minimal deposit funds and penalty. 

Then it's unlikely you will ever raise money like this. If you can't make friends with means to lend to you you lack the basic skills needed to raise capital. 

@Daniel Saunders If the idea of doing business with you makes your own family so nervous they flake out why should a private investor ever trust you with their money?

The main issue you will run into is Maryland will deny your foreign entity access to the Maryland Courts. You must register each named entity at a cost of $300 per year and file state tax returns reflecting your business activity here. 

You start by pitching your friends and family to invest. Until you can get someone you know to trust you don't attempt it with strangers. 

Check out PayNearMe - perfect for unbanked tenants and costs you nothing. 

As much as possible.

This is a very tough season for finding tenants. Rather than suffer the vacancy my advice is to offer a six month lease at $2,050 - let the tenants know it's a winter teaser rate and do not approve anyone who is incapable of paying $2,300 a month when it comes time to renew their lease in July. 

The Maryland Mortgage Program can only be used for your principal residence. Not investment property. 

@Aaron M. In a 3 unit multifamily you'll have one roof, one common area, often one hot water heater/heating system reduced costs from visiting each unit more often. Three single families you'll have 3 yards, 3 roofs, etc etc Over the life of the 3 singles vs 1 triplex the operating expenses will be slightly less with the triplex. 

But as Russell Brazil, a wise man, said you have to work with what can grow in your garden. Get into SFH or perhaps some condos with lower dollar HOAs that take care of a lot of the landlording for you. Long distance landlording is for the people who buy gold bars on late night TV.